TiVo (Nasdaq: TIVO) likes to believe its DVR products offer a little bit of everything for those willing to dig around a bit. Apparently that attitude extends to the company's earnings as well, as second quarter results on the surface indicated that the company, even with a new deal with Cox Communications and a new Premiere product line, was continuing to lose money and subscribers. But TiVo's CEO saw a bright future.
Financially speaking, TiVo lost $15.3 million compared to a loss of $2.71 million a year ago. That's not that bad, TiVo CEO Tom Rogers said, and things are getting ready to turn around. "The last quarter has been a quite productive one. Operators around the world are embracing TiVo's speed and value proposition and as a result our domestic distribution continues to gain momentum," he noted.
Rogers also puffed his chest when confronted with TiVo's ongoing--and seemingly slippery--patent litigation with EchoStar. It seemed at first TiVo had won--and won big in a monetary way--but recent rulings have changed that momentum a bit. Nevertheless, Rogers said, "We remain confident that the right to the patent holders and judges to enforce against the willful infringer will be upheld."
There was one other big piece of information that seemed to push the earnings announcement to the negative, despite Rogers' upbeat take. The company lost 125,000 subscribers in the quarter and expects to post another loss in the current quarter.
For more:
- see this story
- and this news release
- Multichannel News has this story
- and see this story
- and the earnings call transcript
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