Digital video-recording pioneer
said its first-quarter loss widened, but subscriber gains were solid.
The Alviso, Calif., company lost $10.7 million, or 13 cents a share, for the quarter ended March 31. That compares with the year-ago loss of $857,000, or 1 cent a share. Revenue rose 38% from the year-ago period to $55.1 million.
Analysts surveyed by Thomson Financial had expected the company to lose 19 cents a share on $50.6 million in revenue.
"This period was marked by a high degree of activity on all fronts. TiVo demonstrated its leadership position across the board, including intellectual property, interactive advertising, partnership distribution and alliances, digital device integration and broadband video distribution," said TiVo CEO Tom Rogers.
TiVo said its subscriber base hit 4.4 million, up 33% from the same time last year.
The company has also been publicly sparring with satellite TV provider
over patent infringements.
A Texas jury found against EchoStar last month in a suit claiming unfair use of TiVo's digital video-recording technology. The jury awarded TiVo $73 million for lost profits and royalties, finding EchoStar violated a patent governing simultaneous operations in digital video recorders.
Earlier Wednesday, EchoStar said in a statement that the U.S. Patent and Trademark Office rejected many of TiVo's patent claims as invalid. TiVo said that "while certain of the patent claims were rejected by the patent office, this should in no way impact the jury verdict."
TiVo intends to use the Dallas verdict in trying to block EchoStar from shipping its own DVRs.
On Wednesday, Tivo shares declined 23 cents to $7.14.