Pakistanis angry over detentions in Times Sq. case Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They
AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e
BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German
Minister seeks closure of anti-Berlusconi websites Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who
By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an
My Profile
Top News
Reuters top ten news stories delivered to your inbox each day.
Subscribe
You are here:
Home
>
News
>
Technology
>
Article
Home
Business & Finance
News
U.S.
Politics
International
Technology
Internet
Entertainment
Sports
Lifestyle
Oddly Enough
Environment
Health
Science
Special Coverage
Video
Pictures
Your View
The Great Debate
Blogs
Weather
Reader Feedback
Do More With Reuters
RSS
Widgets
Mobile
Podcasts
Newsletters
Your View
Make Reuters My Homepage
Partner Services
CareerBuilder
Affiliate Network
Professional Products
Support (Customer Zone)
Reuters Media
Financial Products
About Thomson Reuters
TiVo quarterly loss narrows; outlook light
Mon Mar 2, 2009 7:00pm EST
Email | Print |
Share
| Reprints | Single Page
[-]
Text
[+]
BY Gabriel Madway
SAN FRANCISCO (Reuters) - Digital video recorder maker TiVo Inc reported a narrower quarterly loss than a year ago, topping Wall Street's expectations, as cost cuts helped offset a 20 percent decline in revenue.
TiVo shares rose as much as 9 percent in light after-hours trading on Monday, even as the company forecast revenue in the current quarter would be below average analysts' estimates.
Although subscriber growth slowed, the company reined in subscriber acquisition costs and spending on marketing. TiVo said it is focused on having plenty of cash to weather the challenging economy.
"A number of things contributed to the quarter. Certainly we held costs down, we reduced churn some, we ended up with some enviable positions relative to our balance sheet," Chief Executive Tom Rogers told Reuters in an interview.
TiVo's net loss in its fiscal fourth quarter ended January 31 was $3.6 million, or 4 cents a share, compared to a loss of $6.4 million, or 6 cents a share, in the year-ago period. Analysts had been expecting a net loss of 10 cents a share, according to Reuters Estimates.
Overall revenue fell 20 percent to $59.2 million. Service and technology revenue fell 16.5 percent to $48.5 million, in line with the average Wall Street estimate of $49 million.
For the current quarter, TiVo forecast service and technology revenue of $47 million to $49 million, which was below the average analyst forecast of $51 million, according to Reuters Estimates. TiVo forecast a net loss of $6 million to $8 million for its fiscal first quarter.
COST CONTROLS
TiVo-owned subscriptions added a gross 59,000 customers in the fourth quarter, down from 109,000 a year ago. Its monthly churn -- or subscriber loss -- rate was 1.3 percent, down from the third quarter and a year ago.
TiVo-owned subscriptions reached 1.6 million at the end of the quarter, with total subscriptions of 3.3 million. TiVo's software is also used in DVRs offered by television service providers such as Comcast Corp and DirecTV Group Inc.
"Overall, I think they're doing the right things as far as controlling costs and I think I'm optimistic as far as how they're tracking as Comcast is concerned," said Maxim Group analyst Mark Harding.
TiVo reported more than $200 million in cash, cash equivalents and short-term investments, and no debt.
Rogers said TiVo has repositioned itself to appeal to cost- conscious consumers.
"There are all kinds of ways that people are cutting back on out-of-home entertainment and we provide a really cheap alternative," the CEO said.
The company has been locked in a patent infringement dispute with satellite TV provider EchoStar Corp that dates back to 2004. A court ruled in TiVo's favor in 2006 and the company was paid $104 million in damages by Dish Network Corp and EchoStar. Continued...
View article on single page
Share:
Del.icio.us
Digg
Mixx
Yahoo!
Facebook
LinkedIn
Next Article:
Industry coalition launches health IT security plan
also on reuters
Slideshow
Slideshow: Snow snarls the east coast
Ex-Governor Blagojevich gets a book deal
Video
Video: Boater rescued, NFL players still missing
More Technology News
Microsoft testing new search service internally
Notebooks may offer hackers private data gateway
Micron seeks role in Taiwan DRAM chip restructuring
Thomson Reuters to debut video news service in June
Intel, TSMC form tech alliance, target new markets
More Technology News...
Editor's Choice
Slideshow
A selection of our best photos from the past 24 hours. Slideshow
Most Popular on Reuters
Articles
Video
U.S. rescue efforts may risk double-dip recession
Sri Lankan cricketers hurt in Pakistan attack
Obama pushes centers as one focus of health reform
Cost of locking up Americans too high: Pew study
Rebellion on "Sarah Silverman" set
HSBC in $18 billion rights issue, retreats from U.S. | Video
Obama considers funds to buy bad assets: report | Video
Doctor tells Venezuela's Chavez to stop talking
French farmer is new sun king
Receiver says Stanford finances "dire"
Most Popular Articles RSS Feed
Video
Obama embarks on health reform
Clinton's hope for Mideast peace
Boater rescued, NFL players missing
Wall St. hammered by AIG fallout
Chinese bidder refuses to pay
Talk of the Town-Boyle goes home
Whales die on beach
Guinea-Bissau president murdered
U.S. pounded by winter storm
Fishermen rescue endangered shark
Most Popular Videos RSS Feed
The Great Debate
Facebook's privacy snag
Eric Auchard
Social networking phenomenon Facebook has beaten out arch-rival and former market leader MySpace by most measures, except the one that pays the bills. Commentary
Follow The Great Debate on Twitter @reutersgr8db8
Reuters Deals
The global destination for corporate leaders, deal-makers and innovators
Knowledge to Act
Reuters.com:
Help and Contact Us |
Advertise With Us |
Mobile |
Newsletters |
RSS |
Interactive TV |
Labs |
Reuters in Second Life |
Archive |
Site Index |
Video Index
Thomson Reuters Corporate:
Copyright |
Disclaimer |
Privacy |
Professional Products |
Professional Products Support |
About Thomson Reuters |
Careers
International Editions:
Africa |
Arabic |
Argentina |
Brazil |
Canada |
China |
France |
Germany |
India |
Italy |
Japan |
Latin America |
Mexico |
Russia |
Spain |
United Kingdom |
United States
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.