Tuesday, November 28, 2006

TiVo Reports 4.4 million Subscriptions, Signs Cablevision Mexico

TiVo reported financial results for its quarter ended October 31, 2006, saying overall TiVo-Owned subscriptions were up 24% year-over-year to 1.6 million. As expected, TiVo reported a net decline in the number of DIRECTV TiVo subscriptions during the period as DIRECTV deployed fewer TiVo boxes. Cumulative total subscriptions as of October 31, 2006, were up slightly from last quarter to 4.4 million, and up 11% over the year-ago subscription totals.

Service and technology revenues for the quarter increased 22% to $52.6 million, compared with $43.2 million for the same period last year. TiVo reported a net loss of ($11.1) million and net loss per share of ($0.12), compared to a net loss of ($14.2) million, or ($0.17) per share, for the third quarter of last year.

Tom Rogers, CEO of TiVo said, "Our strategy remains clear: to drive our standing as the only branded and truly differentiated DVR in the world. In the third quarter, we continued to make progress towards that goal and our results reflected our efforts as gross subscription addition growth was positive for the first time on a year-over-year basis in six quarters."

TiVO also announced a distribution deal with Cablevision Mexico, which serves Mexico City. Initially, the service offered by CABLEVISION will utilize TiVo's standalone DVR hardware platform. CABLEVISION expects to begin marketing bundles that include the TiVo DVRs and TiVo Service in the first half of 2007.


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