UPDATE 2-TiVo quarterly loss narrows; outlook light

Mon Mar 2, 2009 11:50pm GMT
 
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* Q4 EPS loss 4 cents beats Wall St view of 10 cent loss

* Q4 overall revenue fell 20 pct to $59.2 mln

* Q1 service and tech rev $47-49 mln, below Street view

* Shares rise 9 pct in light after-hours trading (Adds CEO and analyst comment, additional details)

BY Gabriel Madway

SAN FRANCISCO, March 2 (Reuters) - Digital video recorder maker TiVo Inc (TIVO.O) reported a narrower quarterly loss than a year ago, topping Wall Street's expectations, as cost cuts helped offset a 20 percent decline in revenue.

TiVo shares rose as much as 9 percent in light after-hours trading on Monday, even as the company forecast revenue in the current quarter would be below average analysts' estimates.

Although subscriber growth slowed, the company reined in subscriber acquisition costs and spending on marketing. TiVo said it is focused on having plenty of cash to weather the challenging economy.

"A number of things contributed to the quarter. Certainly we held costs down, we reduced churn some, we ended up with some enviable positions relative to our balance sheet," Chief Executive Tom Rogers told Reuters in an interview.  Continued...

 

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