TiVo Back in Black for Fiscal 1Q
Digital-Video-Recorder Vendor Posts All-Around Growth
By Multi Channel News Staff -- Multichannel News, 5/30/2007 1:14:00 PM
TiVo reported solid results across the board for its fiscal first quarter ended April 30.
The digital-video-recorder vendor posted net income of $835,000, or $0.01 per share, versus a net loss of $10.7 million ($0.13) in the year-earlier quarter.
Adjusted earnings before interest, debt, taxes and amortization was $6.7 million for the period compared with an adjusted EBITDA loss of $6.9 million in the first quarter of last year.
Service revenues rose to $54.2 million from $47 million, and service and technology revenues were $58.1 million versus $55 million in the previous-year quarter. Technology revenues for the year-ago period included $4.6 million in connection with TiVo's Comcast development work done during fiscal-year 2006.
“This quarter was all about steady progress across many areas of our business,” TiVo CEO Tom Rogers said in a prepared statement. “Through the successful launch of Amazon Unbox on TiVo, which now has about 10,000 titles available to TiVo subscribers, we ushered in a new era of delivering premium broadband content directly to the television.”
Rogers added, “In terms of our overall strategy, we are focused on driving our distribution, both through increased TiVo-owned subscriptions and through significant partnerships. To accomplish this strategy, we must continue to differentiate TiVo in ways that better connect viewers with when, where and how they get their television. In doing so, we expect our advertising business to grow with the number of subscriptions, as well as the number of advertisers that are adopting TiVo advertising solutions.”
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