TiVo Inc., a provider of digital video recorders, posted a wider fiscal first-quarter loss Wednesday, citing legal costs, aggressive pricing and stock option expenses.
In the three months ended April 30, the company said it lost $10.7 million, or 13 cents a share, compared with a loss of $857,000, or 1 cent, a year ago.
Revenue increased 38% to $55.1 million, up from $40 million a year ago.
Analysts were expecting a loss of 19 cents a share on sales of $50.6 million, according to a poll by Thomson Financial.
The Alviso, Calif.-based company said it added 91,000 TiVo-owned subscriptions in the quarter, compared with 104,000 last year. In addition, TiVo said it netted about 2,000 new subscribers through DirecTV customers using TiVo-based products.