TiVo Inc. posted a net loss of $14.2 million, or $0.17 per share, in its fiscal third quarter ended Oct. 31, compared with a net loss of $26.4 million ($0.33) in the year-ago period.
The digital-video-recorder vendor said service and technology revenues rose 52% to $43.2 million from $28.4 million in the previous-year quarter.
TiVo said total subscriptions as of Oct. 31 were 4.008 million, representing 74% growth during the past year. Total net new-subscription additions in the quarter were 434,000, up from 419,000 in the third quarter of last year.
TiVo-owned gross subscription additions were 92,000 for the quarter versus 119,000 in the year-earlier period. TiVo-owned net subscription additions were 55,000 compared with 103,000 in the third quarter of last year. DirecTV Inc. net subscription additions were 379,000 for the quarter compared with 316,000 in the prior-year period.
“Three factors affected our results: more cable competition; a far greater increase in DirecTV subscriptions following a rebate program that offered an effectively free TiVo DVR; and our own marketing program that started well into the quarter compared to the full quarter last year,” TiVo CEO Tom Rogers said in a prepared statement.
“We are focused on growing our subscription base through three major efforts: by reinvigorating our sales and marketing efforts; differentiating ourselves from generic DVRs with unique features; and continuing to develop partnerships and alliances to further broaden TiVo's reach,” he added.