TiVo’s Loss Rises Sharply on Legal Costs
TiVo reported a quarterly loss Wednesday that was seven times the size of its loss a year ago, largely because of hefty legal costs associated with a high-stakes intellectual property patent dispute.
In the three months ended April 30, the company, which makes digital video recorders, lost $6.45 million, or 7 cents a share, compared with a loss of $892,000, or a penny a share, a year ago. Revenue rose 50 percent, to $59.2 million, from $39.3 million a year ago.
Analysts, on average, were expecting a loss of $10.54 million, or 14 cents a share, on sales of $51.32 million, according to a poll by Thomson Financial.
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