Operating deficit at 19¢ a share
TiVo trimmed its net loss in the quarter ended Jan. 31 to $18.7 million from $21.1 million a year ago, but full-year results were more mixed.
The 10-year-old TV tech firm saw subscriber growth of 16% to 1.7 million and boosted revenue by 32% to $259 million, but net loss increased to $46.9 million from $37 million the previous year.
The company, whose name is synonymous with digital video recording from television, is trying to capitalize on its brand and differentiate its product from generic DVRs offered by cable companies and satcasters.
Execs touted several strategic initiatives, such as a joint venture with Amazon that allows subscribers to rent or buy pics or shows from the likes of Fox, Paramount, Warner Bros., Lionsgate and CBS. Sony was added to that roster on Wednesday.
“Going forward, our goal will be to grow subscription levels on a more efficient basis,” CEO Tom Rogers said. “We are also focused on building a broader brand value proposition through advertising the unique and distinctive elements of the TiVo service.”
To that end, Rogers said the company has retained ad firm Kaplan Thaler Group to help it break even for fiscal 2008 given subscriber growth projections similar to the fiscal 2007 numbers.
TiVo shares climbed 20¢ on the day, or 3%, to close at $6.14