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Second-Quarter Losses for TiVo

TiVo, Incorportated, posted a second quarter loss seven times greater than its 2005 second-quarter loss, saying it is primarily due to legal expenses related to patent disputes. TiVo says it lost $6.45 million, or 7 cents per share, in the three months that ended on April 30 of this year. This loss compares to a loss of $892,000, or 1 cent per share,last year. The Alviso, California-based company says it had 4.4 million subscribers as of July 31.

Revenue for TiVo, a producer and provider of digital video recorders, went up 50 percent to $59.2 million, from $39.3 million last year. However, despite a higher second-quarter loss than last year, TiVo says it still beat Wall Street forecasts for the company, which apparently predicted a loss of $10.54 million, or 14 cents per share. A survey by Thomson Financial showed sales were expected to be $51.32 million.

TiVo`s subscriber numbers were reported to be 24% higher from the same period in 2005, but expects to lose $12 million to $17 million this quarter. TiVo also announced revenue expectations of around $54 million to $56 million. Wall Street predicts for TiVo an average loss of $14.8 million, or 16 cents a share, on total revenue of $54.6 million. TiVo`s Chief Executive, Tom Rogers, said "We believe the best way to grow our company is to increase our distribution. Right now we`re in a subscriber-building phase."