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PVR champ TiVo posts losses but remains upbeat

September 5th, 2006 · No Comments

PVR pioneer has posted a net loss of 6.4 million dollars for the second quarter. The loss is blamed on its ongoing legal wrangle with EchoStar and spiralling harware costs. After delivering the news, Tom Rogers, CEO of TiVo, remained upbeat, saying: “Despite a traditionally slower summer consumer electronics selling period, coupled with no exceptional advertising spend, we were able to continue to build momentum relative to last year’s results and meet and exceed our second-quarter guidance for revenue doubling year-over-year.”
The company, which has 4.4 million subscribers in the US, recently inked a distribution deal with cable provider Cox Communications. It also claimed that the number of Tivo-enabled settop boxes sold grew for the first time in over a year.

Tags: Home cinema · Trade

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