For its first fiscal quarter ended 30-April-2007, TiVo reported net income of $835 thousand and net income per share of $0.01, compared to a net loss of ($10.7) million, or ($0.13) per share, for the first quarter of last year. Adjusted EBITDA was $6.7 million, compared to an Adjusted EBITDA loss of ($6.9) million in the year-ago period. Service revenues were $54.2 million, compared to the year ago quarter when service revenues were $47.0 million. Service and technology revenues were $58.1 million, compared with $55.0 million for the same period last year.
- Overall, TiVo-Owned subscriptions increased slightly to 1.7 million from 1.5 million in the year ago-period.
- TiVo-Owned subscription gross additions for the first quarter were 57,000, compared to 91,000 gross additions for the year-ago period.
- Cumulative total subscriptions as of January 31, 2007 were 4.3 million.
- The monthly churn rate was 1.1% compared to 0.9% in the year-ago period and down from 1.2% in the prior quarter.
- There was a net decline in DIRECTV TiVo subscriptions during the period as DIRECTV is no longer deploying new TiVo boxes.
- Amazon Unbox on TiVo now has about 10,000 titles available to TiVo subscribers.
- TiVo is reducing hardware subsidies and moving toward an advertising-centric approach.
- A lower-priced, mass appeal High Definition TiVO unit is expected to be available later this year.
