Alviso, Calif. - TiVo reported higher net revenues but a higher net loss in its fiscal first quarter, ended April 30.
Net revenues were $61.4 million, up from the prior year's $55.1 million. But the net loss was $14.2 million, up year on year from $3.9 million.
In a prepared statement Tom Rogers, president/CEO of TiVo, commented, "This quarter we continued to aggressively drive our long-term growth initiatives in the U.S. and internationally through strategic partnerships that further distinguish TiVo as a leader in advanced television solutions and bring the TiVo experience into more homes though new distribution partners."
TiVo's newest strategic alliance is with Best Buy's Insignia brand to integrate TiVo's software and advanced television services into broadband-connected Insignia televisions, Rogers said.
"The new Insignia televisions will provide Best Buy customers with an exceptional, intuitive user experience for accessing online content by utilizing our latest non-DVR software, giving the viewer a one-stop-shop for delivering and searching content right on the television," he noted.