Post by Skaggs on May 28, 2009 7:05:18 GMT -5
TiVo Posts Loss as Its Growth Slows
By REUTERS, May 28, 2009, NY Times
TiVo, the maker of digital video recorders, posted its second straight quarterly loss on Wednesday, but it was smaller than expected as the company reined in costs to offset sliding revenue and slowing user growth.
The company said it swung to a net loss of $4.1 million, or 4 cents a share, from a profit of $3.6 million, or 4 cents a share, a year earlier.
Revenue in the period, which ended April 30 and was the first quarter of TiVo’s fiscal year, fell 9 percent, to $54.9 million.
TiVo added 37,000 direct subscriptions in the quarter, down from 48,000 a year earlier.
Over all, direct subscriptions ended the quarter at 1.6 million, with total subscriptions of 3.2 million when those through other companies are included.
TiVo, based in Alviso, Calif., posted its results after the close of market trading. After hours, its stock fell 20 cents, to $6.78 a share.
By REUTERS, May 28, 2009, NY Times
TiVo, the maker of digital video recorders, posted its second straight quarterly loss on Wednesday, but it was smaller than expected as the company reined in costs to offset sliding revenue and slowing user growth.
The company said it swung to a net loss of $4.1 million, or 4 cents a share, from a profit of $3.6 million, or 4 cents a share, a year earlier.
Revenue in the period, which ended April 30 and was the first quarter of TiVo’s fiscal year, fell 9 percent, to $54.9 million.
TiVo added 37,000 direct subscriptions in the quarter, down from 48,000 a year earlier.
Over all, direct subscriptions ended the quarter at 1.6 million, with total subscriptions of 3.2 million when those through other companies are included.
TiVo, based in Alviso, Calif., posted its results after the close of market trading. After hours, its stock fell 20 cents, to $6.78 a share.