TiVo issued its financial report for its most recent quarter. Some highlights:
- TiVO recently launched its HD DVR box for the mass market and is expecting a gradual transition
- there was a net loss of $17.7 million, which included a combined inventory write-down and inventory purchase commitment charge of $11.2 million, as compared to TiVo's net loss guidance of $5 to $8 million that didn't contemplate the inventory related write-down.
- TiVo's net loss per share was $0.18. The inventory-related charge primarily relates to long-lead time dual-tuner Series2 standard definition DVR inventory.
- TiVo-Owned subscription gross additions for the second quarter were 41,000, compared to 74,000 gross additions for the year-ago period. The company said gross subscription additions were impacted by the pace at which retailers moved to a high definition sales focus.
- Overall, TiVo-Owned subscriptions totaled 1.71 million, up 136,000 on an annual basis compared to the year ago-period.
- As expected, TiVo reported a net decline in DIRECTV TiVo subscriptions during the period as DIRECTV is no longer deploying new TiVo boxes.
- Cumulative total subscriptions as of July 31, 2007 were 4.2 million.
- The monthly churn rate was 1.2% compared to 1.1% in the prior quarter.
- Comcast plans to commence its TiVo rollout shortly, which will continue rolling out throughout the fall in Comcast's New England Division including metro Boston, Southeast Massachusetts and New Hampshire.
- Comcast has also agreed to fund significant additional development work to bring the TiVo service to other Comcast platforms, including Scientific Atlanta set top boxes.
