TiVo Posts Lower Fis. Q1 Sales
By TWICE Staff -- TWICE, 6/1/2009
ALVISO, CALIF. — TiVo reported lower sales and a loss for its first fiscal quarter, ended April 30.
For the first quarter, service and technology revenues were $48.5 million, compared with $54.9 million for the same period last year.
TiVo reported a net loss of $4.1 million, compared with net income of $3.6 million in the first quarter of last year.
TiVo-Owned subscription gross additions for the first quarter were approximately 37,000, compared with 48,000 gross additions for the year-ago period. The TiVo-Owned monthly churn rate was 1.4 percent, slightly higher than the prior quarter but improved as the quarter progressed, the company said. Overall, TiVo-Owned subscriptions ended the quarter at 1.6 million. Cumulative total subscriptions as of April 30 were 3.2 million.
Tom Rogers, president, said, “We are acutely aware of the challenges advertisers, broadcasters and networks are facing, compounded by these difficult economic times, and we continue to work with them to provide advertising solutions and audience research tools to help make reaching target viewers more effective and impactful.”
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