By Lisa Johnston
New products on display at the American International Toy Fair, held in N
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 multichannel 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.
In the period, TiVo said it sold more standard-definition set-top boxes than expected and reduced subsidies on its $299 high-definition products.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.