Alviso, Calif. — TiVo reported a lower-than-expected $6.4 million loss during its fiscal fourth quarter, ended Jan. 31, as a result of lowered expenses and reduced subsidies on DVR equipment.
The results reflected a significant improvement from the $19.5 million loss the DVR producer reported in the year ago period, and was significantly lower than many analysts had estimated.
Revenue in the quarter fell to $74.1 million, down 3.6 percent from $76.9 million during the year ago period. Annual revenue rose to $272.7 million, up 5.3 percent from $258.9 million in fiscal 2007.
For the year, TiVo lost $31.4 million, which was a 34 percent improvement from the $47.7 million loss in fiscal 2007.
The company said it is looking to move toward profitability as it expands its partnerships with multi-channel TV service providers. This will include a just announced trial of set-top boxes running TiVo’s DVR software by cable-operator Cox Communications in the MSO’s New England territories. Earlier, Comcast began a similar offering in its New England regions.
In the period, TiVo said it sold more standard-definition set-top boxes than expected and reduced subsidies on its $299 high-definition products.