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Earnings Roundup / Tivo

Cost cuts help trim red ink

March 03, 2009|Times Wire Reports

TiVo Inc. reported a narrower loss in the fourth quarter as lower costs buoyed the bottom line in the face of a 20% drop in revenue.

The Alviso, Calif., maker of digital video recorders with time-shifting technology lost $3.6 million, or 4 cents a share, compared with a loss of $6.4 million, or 6 cents, a year earlier. Sales were $59.2 million, down from $74.1 million.

The results beat the average forecast of analysts polled by Thomson Reuters, which had expected a loss of 10 cents a share on sales of $54.7 million.

TiVo said it expected a net loss of $6 million to $8 million in the first quarter.

Shares of TiVo fell 49 cents to $6.60.

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