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Home >> TiVo Reports Net Loss, Higher Sales For Fiscal Q4
San Jose, Calif. — TiVo reported a net loss but higher sales for its fiscal fourth quarter, ended Jan. 31, 2013
For the fourth quarter, net revenues were $88.8 million, compared with $66.5 million for the same quarter last year.
TiVo reported a net loss of $15.8 million, compared with net income of $7.2 million in the same quarter last year when excluding the $54.4 million in litigation proceeds from the AT&T settlement.
For the fiscal year, TiVo’s net revenues increased almost $66 million, to $303.9 million, while posting a net loss of $5.3 million compared with $102,000 in net earnings for the prior year.
Tom Rogers, president and CEO of TiVo, said that the U.S. “operator efforts, the strategic benefit of getting TiVo in front of subscribers, has motivated many of our operator partners to look for ways to distribute TiVo beyond a single advanced-DVR experience. “
For the TiVo-owned business, Rogers said, “We were pleased with our progress this quarter as gross subscription additions were up roughly 10 percent year over year while churn remained relatively low.