EARNINGS ROUNDUP / TIVO
Times Wire Reports
TiVo Inc. reported a narrower loss in the fourth quarter as lower costs buoyed the bottom line in the face of a 20% drop in revenue.
The Alviso, Calif., maker of digital video recorders with time-shifting technology lost $3.6 million, or 4 cents a share, compared with a loss of $6.4 million, or 6 cents, a year earlier. Sales were $59.2 million, down from $74.1 million.
The results beat the average forecast of analysts polled by Thomson Reuters, which had expected a loss of 10 cents a share on sales of $54.7 million.
TiVo said it expected a net loss of $6 million to $8 million in the first quarter.
Shares of TiVo fell 49 cents to $6.60.
