"It will be critical for advertisers to become experts in consumption patterns in DVR homes, and we are the only player out there providing them with both new forms of inventory as well as measurement and accountability tools that enable them to better assess how to reach the television audience increasingly looking to avoid commercials," TiVo CEO Tom Rogers said.
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TiVo (Nasdaq: TIVO) beat analysts' estimates Wednesday with a fourth-quarter loss of US$6.4 million as expenses fell and sales of older-model units were better than expected.
The digital video recorder maker's loss in the quarter that ended Jan. 31 was equivalent to 6 cents per share, much lower than its quarterly loss of $19.5 million, or 20 cents per share, the year before.
Analysts surveyed by Thomson Financial had forecast, on average, a fourth-quarter loss of 11 cents per share on revenue of $59.3 million.
Red All Over
The Alviso, Calif.-based company has never had a profitable quarter, but CEO Tom Rogers assured investors in a conference call Wednesday that it would continue to narrow the gap toward profitability as it creates partnerships with cable and satellite TV providers.
Cox Communications announced Wednesday it is launching a trial in New England markets of set-top boxes that run TiVo's DVR technology.
That follows a rollout of the same technology in the fourth quarter by Comcast (Nasdaq: CMCSK) .
Looking Ahead
Rogers also said there would be growth in sales of stand-alone DVRs because of rising demand for content downloaded from the Internet and increased revenues from its StopWatch service, which allows advertisers to track which commercials TiVo users watch.
"It will be critical for advertisers to become experts in consumption patterns in DVR homes, and we are the only player out there providing them with both new forms of inventory as well as measurement and accountability tools that enable them to better assess how to reach the television audience increasingly looking to avoid commercials," Rogers said.
TiVo's stock rose 31 cents, or 3.8 percent, to $8.45 in after-hours trading Wednesday.
Quarterly revenue fell to $74.1 million, down 3.6 percent from $76.9 million during the year ago period, as service and hardware revenue slipped. Annual revenue rose to $272.7 million, up 5.3 percent from $258.9 million in fiscal 2007.
Best Year Yet
For the year, TiVo lost $31.4 million, or 32 cents per share. That's 34 percent less than in fiscal 2007, when the company lost $47.7 million, or 53 cents per share. Analysts had forecast, on average, an annual loss 37 cents per share on revenue of $232 million.
"This is TiVo's best annual performance in its history," Rogers told investors.
The company said it sold more standard-definition set-top boxes than expected and provided fewer subsidies on its $299 high-definition products in the fourth quarter.
In the current quarter, TiVo expects a net loss between $1 million and $3 million on revenues in the range of $53 million to $55 million.
beat analysts' estimates Wednesday with a fourth-quarter loss of US$6.4 million as expenses fell and sales of older-model units were better than expected.
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