TiVo slashes Q1 net loss on strong customer additions

News Broadband United States 21 MEI 2013
TiVo slashes Q1 net loss on strong customer additions

PVR maker TiVo halved its net loss to USD 10.32 million from USD 20.77 million in the first quarter, compared to the first quarter of 2012, after recording the highest number of MSO subscriber additions in 7 years. The company added 255,000 net subscribers in the quarter, compared to 206,000 in the year-earlier period, and took its total subscriber base to 3.4 million, up on 2.49 million a year earlier. TiVo exceeded its net loss guidance of USD 16 million to USD 19 million.

The company’s net revenues grew to USD 82.57 million from USD 67.77 million, meeting its guidance of USD 60 million to USD 62 million. Adjusted EBITDA also exceeded guidance, reaching USD 0.8 million, compared to an expected negative EBITDA of USD 8 million to USD 10 million. Both the net loss and EBITDA included USD 10.9 million of litigation expenses, compared to USD 5.4 million in the first quarter of 2012.

For the second quarter, TiVo expects to make a net loss of USD 13 million to USD 16 million, and an adjusted EBITDA of positive USD  million to negative USD 2 million, including litigation spend. Adjusted EBITDA profitability is anticipated for the full year.

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Sales figures, Financial figures, Consumer devices, Wireline, Broadcast, Consumer

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