TiVo Posts Lower Sales, Net Loss
By TWICE Staff On Mar 23 2010 - 12:02pm
ALVISO, CALIF. — TiVo reported lower
revenue and a higher net loss for its
fourth quarter, ended Jan. 31.
Net revenues were $68.5 million, compared
with $59.2 million for the same
period last year.
TiVo reported a net loss of $10.2 million
for the fourth quarter, compared
with a net loss of $3.6 million net loss
in the year-ago quarter.
For its fiscal year, which also ended
Jan. 31, TiVo reported net revenues
of $237.6 million, down from the prior
year’s $249.7 million. The net loss for
the year was $23.9 million, compared
with $103.6 million.
Days before the release of its financials,
the U.S. Court of Appeals for the
Federal Circuit in Washington D.C. fully
affi rmed the U.S. District Court for the
Eastern District of Texas’s finding of
contempt of its permanent injunction
against EchoStar, including both the
disablement and infringement provisions,
regarding EchoStar’s ongoing infringement
of our Time Warp patent.
TiVo said the ruling paves the way for
TiVo to collect the previously awarded
approximately $300 million in damages
and contempt sanctions for EchoStar’s
continued infringement through July 1st,
2009, bringing the total awards related to
this case to date to about $400 million.
EchoStar is appealing the decision.