TiVo Affirms Fiscal Q2, Year Outlook

Staff On Jul 23 2001 - 6:00am

Personal television recording services provider TiVo confirmed previously announced guidance for its fiscal second quarter and fiscal full year. The company said it still expects second-quarter revenue of $3.5 million to $4 million, and full-year revenue of $20 million to $24 million. The second quarter ends July 31 and the year Jan. 31, 2002.

In fiscal 2003, TiVo said total revenues would triple fiscal 2002 guidance, with non-subscription revenue — mainly from advertising and technology licensing sources — expected to reach about 30 percent to 40 percent of total revenue. Range of expected total revenue for the year ending January 2003 is expected to be $63 million to $72 million, said TiVo.

"We expect new subscriber additions in fiscal year 2003 to be about 300,000, and expect to end fiscal year 2003 with over 650,000 total subscribers to the TiVo service, an 85 percent increase in total subscribers, compared with the prior fiscal year guidance," said president/CEO Mike Ramsey.

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