TiVo’s Q2 showed a net loss of ($15.3) million, compared to guidance of a net loss of ($17) to ($19) million and a net loss of ($2.7) million in the year ago quarter. Net loss per share this quarter was ($0.13). Adjusted EBITDA was ($6.5) million, compared to guidance of ($9) million to ($11) million, and $5.5 million in the same period a year ago. For the quarter, service and technology revenues were $42.1 million, exceeding their guidance of $40 million to $42 million and compared with $48.8 million for the same period last year and $43.2 million in the prior quarter.
“This quarter we put several strategic relationships in place that further demonstrate our growth plans, led by fast, cost-efficient solutions that bring the TiVo experience to consumers and operators around the world,” said Tom Rogers, President and CEO of TiVo. “At the same time, TiVo remains on solid financial footing, exceeding our revenue and earnings guidance and with a strong balance sheet of over $240 million in cash and short-term investments, and no debt.”
He added, “We are confident in our ability to drive the distribution of our products and are investing in our ability to do so now, as well as for future generation products. We are accomplishing these goals while aggressively protecting our intellectual property, which we see as a solid investment for the Company.
For Q3 of fiscal 2011, TiVo anticipates service and technology revenues in the range of $40 million to $42 million, a net loss in the range of ($19) million to ($21) million, and an adjusted EBITDA loss in the range of ($11) million to ($13) million.
