TiVo Posts Lower Sales, Net Loss

By TWICE Staff -- TWICE, 3/22/2010

ALVISO, CALIF. — TiVo reported lower revenue and a higher net loss for its fourth quarter, ended Jan. 31.

Net revenues were $68.5 million, compared with $59.2 million for the same period last year.

TiVo reported a net loss of $10.2 million for the fourth quarter, compared with a net loss of $3.6 million net loss in the year-ago quarter.

For its fiscal year, which also ended Jan. 31, TiVo reported net revenues of $237.6 million, down from the prior year’s $249.7 million. The net loss for the year was $23.9 million, compared with $103.6 million.

Days before the release of its financials, the U.S. Court of Appeals for the Federal Circuit in Washington D.C. fully affi rmed the U.S. District Court for the Eastern District of Texas’s finding of contempt of its permanent injunction against EchoStar, including both the disablement and infringement provisions, regarding EchoStar’s ongoing infringement of our Time Warp patent.

TiVo said the ruling paves the way for TiVo to collect the previously awarded approximately $300 million in damages and contempt sanctions for EchoStar’s continued infringement through July 1st, 2009, bringing the total awards related to this case to date to about $400 million. EchoStar is appealing the decision.