TiVo Q2 Loss Nearly Triples30 Aug, 2007 By: Erik Gruenwedel
Facing increased retail and consumer focus on high definition, digital video recording pioneer TiVo Inc. posted a second quarter (ended July 31) loss of $17.6 million, compared to a loss of $6.4 million during the same period last year.
The Alviso, Calif.-based service's loss was impacted by a $11.2 million charge based on long-term inventory purchase commitments to the standard-definition DVR business.
TiVo, which recently bowed an HD DVR, said it remains committed to servicing the analog basic cable market, including homes not looking to upgrade to HD.
Net revenues increased to $62.6 million, compared to $59.3 million last year.