TiVo Reports Loss, Lower Sales
By Steve Smith -- TWICE, 8/27/2009
Alviso, Calif. - TiVo reported lower sales and a loss for its fiscal second quarter, ended July 31.
At the same time, TiVo also filed complaints against AT&T and Verizon for patent infringement.
On the financial front, TiVo's service and technology revenues were $48.8 million, compared with $53.5 million for the same period last year. TiVo reported a net loss of $2.9 million, compared with a net income of $2.9 million in the second quarter of last year.
TiVo-owned subscription gross additions for the second quarter were approximately 31,000, compared with 36,000 gross additions for the year-ago period.
The TiVo-owned monthly churn rate was 1.5 percent. Overall, TiVo-owned subscriptions ended the quarter at 1.6 million. Cumulative total subscriptions as of July 31 were approximately 3 million.
Concerning TiVo's lawsuit, it filed complaints in the United States District Court, Eastern District of Texas against AT&T and Verizon Communications for infringement of three TiVo patents, including the Time Warp patent, TiVo said.
The complaints seek damages for past infringement and a permanent injunction, similar to the one issued by the United States District Court, Eastern District of Texas against Dish/EchoStar, TiVo noted.
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