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TiVo Posts Higher Q4 Sales, Reduced Loss

3/08/2007 09:31:00 AM Eastern

Alviso, Calif. — TiVo reported 22 percent higher revenues and a reduced loss for its fiscal fourth quarter, ended Jan. 31.

Fourth-quarter service and technology revenues increased 22 percent to $57.4 million compared with $47 million for the same period last year. TiVo reported a net loss of $18.7 million compared with the previous year’s final quarter loss of $21.1 million. The adjusted EBITDA loss for the quarter was $14.2 million vs. the previous year’s $19.9 million loss.

Fourth-quarter TiVo-owned subscription gross additions were 163,000, increasing overall TiVo-owned subscriptions to 1.7 million. As expected, the company reported a net decline to 2.7 million DirecTV TiVo subscriptions during the period as DirecTV deployed fewer TiVo boxes and there was continued churn of existing DirecTV TiVo subscriptions. Cumulative total subscriptions as of January 31 were up slightly from last quarter, to 4.4 million, the company said.

For the year, total service and technology revenues were $217.9 million up from the previous year’s $170.8 million. TiVo’s net loss from for its fiscal year, ended Jan. 31, rose $10 million to $46.9 million from the previous year’s $36.9 million.

TiVo also announced Wednesday that it has reached an agreement with Amazon.com to provide Amazon Unbox On TiVo to more than 1.5 million broadband-ready TiVo subscribers. The service offers TiVo subscribers a way to find favorite movies and TV shows that are available on Amazon Unbox, download and watch them on their TV.

The company’s are promoting the service with a $15 in free movie and TV show downloads to anyone who signs up for the service by April 30.