 |
TiVo’s Loss Rises Sharply on Legal Costs
By THE ASSOCIATED PRESS
SAN FRANCISCO, Aug. 30 (AP) — TiVo reported a quarterly loss Wednesday that was seven times the size of its loss a year ago, largely because of hefty legal costs associated with a high-stakes intellectual property patent dispute.
In the three months ended April 30, the company, which makes digital video recorders, lost $6.45 million, or 7 cents a share, compared with a loss of $892,000, or a penny a share, a year ago. Revenue rose 50 percent, to $59.2 million, from $39.3 million a year ago.
Analysts, on average, were expecting a loss of $10.54 million, or 14 cents a share, on sales of $51.32 million, according to a poll by Thomson Financial.
TiVo, based in Alviso, Calif., said it had 4.4 million subscribers on July 31, up slightly from last quarter and up 24 percent from the same time in 2005.
The company’s competitive position has shrunk as other video recorders have become available. But TiVo contends that successor models infringe on its 2001 patent on the underlying technology and that makers should license the technology.
