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TiVo posts $15mn loss, reduces R&D activity

US DVR innovator TiVo has posted a net loss of US$ 15.8mn for the fourth quarter of its fiscal year ended January 31st 2013, and confirmed that it reduced its research and development activity in the second half of the year following a peak in the three months to April.

Despite these weak spots, the company points to a number of promising areas of progress for its fiscal 2013, including increasing the total number of TiVo subscriptions by almost 1mn in the course of its fiscal year through a mix of subscriber growth by existing operator partners and new deals signed with operators including Sweden’s Com Hem and Alaska’s GCI.

During its fiscal 2013 TiVo also reached a favourable settlement in its patent infringement lawsuit with US telco Verizon, and launched new whole-home and multi-screen product offerings.

Looking ahead, the company expects a dip in technology revenues for the first quarter of its fiscal 2014, as revenue recognition from key MSO projects is expected to occur in the second quarter as opposed to first quarter.

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