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TiVo Narrows Loss

8/22/2003 09:25:00 AM Eastern

San Jose, Calif. - TiVo posted a $4.4 million operating loss for its second quarter, a significant improvement compared to the $13.3 million loss reported during the same period last year.

The second quarter, ended July 31, loss came on net revenues of $26.7 million, a small improvement over the $23.3 million made during 2002’s second quarter.

TiVo also added 90,000 new subscribers during the quarter and expects an additional 130,000 to come on board during the third quarter, ending Oct. 31, The company expects to hit the 1 million subscriber mark sometime during the holiday season.

The company’s third quarter guidance stated it expects a $9 million operating loss.