Net Loss Widens at TiVo

ALVISO: On revenues that fell 10.5 percent to $51.5 million in the second quarter, TiVo’s net loss widened from $2.7 million to $15.3 million.

The loss for the period came in under the company’s forecasted loss of between $17 million and $19 million. And service and technology revenues were above its expectations at $42.1 million.

Announcing the results, president and CEO Tom Rogers noted, "This quarter we put several strategic relationships in place that further demonstrate our growth plans, led by fast, cost-efficient solutions that bring the TiVo experience to consumers and operators around the world. At the same time, TiVo remains on solid financial footing, exceeding our revenue and earnings guidance and with a strong balance sheet of over $240 million in cash and short-term investments, and no debt."

He continued, "We are confident in our ability to drive the distribution of our products and are investing in our ability to do so now, as well as for future generation products. We are accomplishing these goals while aggressively protecting our intellectual property, which we see as a solid investment for the company.”

Rogers also pointed to the growth of TiVo’s international operations, with deals in place with ONO in Spain, Virgin Media in the U.K., among others. "The catalysts for this international progress are clear and we see a strong pipeline of interest. Unlike some of the large operators in the U.S., international players must rely on outside partners to provide their set-top-box software. There are very few players who can credibly provide solutions that handle an incredibly dynamic and strategically important set of consumer-facing features in combination with an increasingly complex set-top box and network infrastructure. Within that small universe of players, TiVo remains the only advanced solution that has proven deployments, the only solution that offers a branded experience, and the only solution that does not come with an agenda which seeks to leverage its user interface as a Trojan horse to sell middleware, conditional access, or set-top boxes. We are truly a pure play built around the consumer experience, and that gives our customers across the globe a great deal of flexibility in their platform decisions and confidence that they will have the optimal consumer offering.”