TiVo beats expectations on DVR sales

TiVo Inc (TIVO.O), the digital video recorder maker, reported a narrower loss than expected on Wednesday thanks to a pick-up in sales for its new Premiere recorder, but forecast a wider-than-expected net loss in the fiscal third quarter.

TiVo shares were slightly lower in after-hours trading.

The company said it expects a net loss in the range of $19 million to $21 million for its fiscal third quarter citing higher research and development costs, and legal fees from lawsuits, including its ongoing battle with EchoStar (SATS.O) and Dish Network (DISH.O).

Wall Street had expected a loss of around $13 million.

The company posted a fiscal second-quarter net loss of $15.3 million, 13 cents a share, compared with a loss of $2.7 million, or three cents a share in the year ago period.

Read Full Article from Reuters

- Posted: 2010-08-26 00:31:58

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