TiVo’s Loss Widens On Litigation Costs
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TiVo Incorporated said after the market closed yesterday that its fiscal first-quarter loss widened from that of a year ago on costs associated with its lawsuit against EchoStar Communications Corporation, reduced prices, and the expensing of stock options.
The pioneer of digital video-recording technology said it lost $10.7 million, or 13 cents a share, in the latest three months, compared with a loss of $857,000, or 1 cent a share, in the prior year’s period. Service and technology revenue rose to $55.1 million from $40 million.
Analysts polled by Thomson First Call were expecting a loss of 19 cents a share on revenue of $50.6 million.
TiVo-owned subscription gross additions were 91,000, compared with 104,000 a year earlier. The company ended the last quarter with just more than 4.4 million subscribers, representing 33% growth in the past 12 months.
