Wednesday, August 27, 2008 11:10:42 PM
Wed Aug 27, 2008 7:28pm EDT
http://www.reuters.com/article/marketsNews/idINN2749153420080827?rpc=44&sp=true
LOS ANGELES, Aug 27 (Reuters) - Digital video recorder maker TiVo Inc (TIVO) forecast a wider-than-expected third-quarter loss, citing legal costs, and shares fell more than 3 percent, erasing most of the day's gains.
The company, which helped revolutionize the way many people watch TV, said on Wednesday net income for the quarter ended July 31 was $2.9 million, or 3 cents per share, compared with a loss of $17.7 million, or 18 cents per share, in the second quarter a year earlier.
Adjusted earnings of 2 cents a share beat analysts' average estimate of a loss of 2 cents a share, according to Reuters Estimates.
Revenues rose to $65.2 million from $62.7 million.
For the third quarter, TiVo anticipates service and technology revenues in the range of $49 million to $51 million, as well as a net loss in the range of $7 million to $9 million. Wall Street on average expected a loss of $4.2 million.
Tom Rogers, president and CEO of TiVo, said the anticipated loss was due to seasonal increases in expenditure for inventory and marketing costs, in advance of the holiday shopping season.
Spokesman Derek Newman said additional legal costs in TiVo's patent suit against satellite TV operator EchoStar (DISH) also would drive the loss.
Mark Harding, an analyst with Maxim Group, said TiVo's anticipated loss in the third quarter is not as bad as the company's share price loss on Wednesday reflected.
"It's not good but I think at this point management is being somewhat conservative on the guidance," Harding said. "They have been conservative in the past."
He said the upcoming court battle between TiVo and Echostar is more significant than the anticipated third-quarter loss, because the court case could "push Echostar into a licensing agreement with TiVo".
The company also announced on Wednesday a partnership with Entertainment Weekly that will allow TiVo subscribers to automatically record the magazine's "What to Watch" TV recommendations.
Shares fell 27 cents, or 3.4 percent, to $7.69 in after-hours trading. The stock had gained 43 cents, or 5.7 percent, to close at $7.96 in regular Nasdaq trade. (Reporting by Alex Dobuzinskis, Gary Hill)
© Thomson Reuters 2008 All rights reserved
.....Smoke 'em!.....
Recent DISH News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/23/2024 10:30:17 AM
- Broadcom Down 10% Post-Earnings, UiPath Up 8%; Qualcomm Eyes Intel Assets; Salesforce Acquires Own Company • IH Market News • 09/06/2024 11:59:00 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/31/2024 08:07:57 PM
- Introducing the New Coach Prime Moto Watch 70, Exclusively Available with Boost Mobile • PR Newswire (US) • 05/16/2024 12:07:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 07:05:11 PM
- Boost Mobile and Deion "Coach Prime" Sanders Team Up on New Partnership Featuring a Limited-Edition Boost-Exclusive Coach Prime Device • PR Newswire (US) • 04/10/2024 12:00:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/29/2024 08:43:44 PM
- DISH Expands VoNR Coverage to Over 200 Million People • PR Newswire (US) • 02/22/2024 01:00:00 PM
- Form SC TO-I/A - Tender offer statement by Issuer: [Amend] • Edgar (US Regulatory) • 02/12/2024 09:08:58 PM
- Arcus Biosciences Stock Jumps 20% on $320M Gilead Investment, Super Micro Surpasses Forecasts, and More News • IH Market News • 01/30/2024 11:25:14 AM
- Bundle and Save with Boost Mobile: Get the Summit Flip and One Year of Service for Only $129, Exclusively at Walmart • PR Newswire (US) • 01/26/2024 01:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 01/24/2024 07:28:20 PM
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 01/23/2024 09:34:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/16/2024 11:55:36 AM
- Form SC TO-I - Tender offer statement by Issuer • Edgar (US Regulatory) • 01/13/2024 02:49:20 AM
- DISH Wireless Awarded $50 Million NTIA Grant for 5G Open RAN Integration and Deployment Center • PR Newswire (US) • 01/10/2024 02:10:00 PM
- Take the Boost Wireless Network to the MAX with the All-New Celero5G+ and Celero5G • PR Newswire (US) • 01/09/2024 01:00:00 PM
- Infinite Access for Galaxy from Boost Infinite to Launch this Month • PR Newswire (US) • 01/04/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:09:05 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:07:48 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:06:39 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:05:27 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:04:26 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:02:02 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 01:00:24 AM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM