TiVo has racked up notable wins with cable operators recently, but the
DVR pioneer continues to bleed subscribers -- losing 125,000 in the
three months ended July 31 -- and the company expects to post another
net loss for the current quarter.
The vendor had 1.37 million
"TiVo-owned" subscribers as of July 31, down 13.7% year over year, and
1.02 million customers through cable and satellite TV operators
including DirecTV and Comcast, down 30.7%. Overall, TiVo had 2.38
million subs at the end of the period, versus 3.05 million in July 2009.
overall revenue of $51.6 million was down 10.5% year over year and the
company's net loss widened to $15.3 million, compared with a net loss of
$2.7 million in the year-ago quarter.
However, according to TiVo
president and CEO Tom Rogers, the company "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."
Added Rogers, in announcing the earnings, "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
For the third quarter of its fiscal 2011, TiVo
anticipates service and technology revenues in the range of $40 million
to $42 million, a net loss of between $19 million to $21 million.