10% Fiscal Q1 Revenue Dip for TiVo

NEW YORK DVR pioneer TiVo reported a $4.1 million net loss for the fiscal first quarter on a 10 percent revenue decline to $54.9 million. Net profits during the year-ago period were $3.6 million.

For the same period, which ended April 30, the company reported a 54 percent drop in adjusted earnings before interest, taxes, depreciation and amortization to $5.1 million.

TiVo previously indicated that its loss for the quarter could be $6 million, with adjusted EBITDA as low as break-even.

The company cited the economy, which it said has “hit the consumer-electronics industry particularly hard,” as a factor in its weaker results, as well as costs related to its copyright-infringement suit against EchoStar.

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