UPDATE 2-TiVo loss smaller than forecast
* Q1 loss 4 cents a share vs Street view 6 cents loss
* Q1 services, tech rev $48.5 mln vs Street view $48.2 mln
* Shares down 1 pct (Adds CEO comments, additional details, fresh share price)
By Gabriel Madway
SAN FRANCISCO, May 27 (Reuters) - TiVo Inc (TIVO.O) posted its second straight quarterly loss but it was smaller than expected, as the digital video recorder maker reined in costs to offset sliding revenue and slowing user growth.
The company's shares slid 1 percent in extended trading after rising 2 percent immediately following the results.
Chief Executive Tom Rogers said the company got an unexpected boost in the quarter when its churn rate -- or subscriber loss -- edged up only slightly despite a gloomy economy that pinched consumer spending.
Rogers said in an interview with Reuters that TiVo's financials were proving doubters wrong, and that the company will continue to drive for subscriber and distribution growth.
"It was not long ago that many people questioned the overall financial viability of TiVo, and I think we've put together a good track record."
The company said on Wednesday it swung to a net loss of $4.1 million, or 4 cents a share, in the fiscal first quarter ended April 30, from a profit of $3.6 million, or 4 cents a share, in the year-ago period.
The average analyst estimate was for a loss of 6 cents a share, according to Reuters Estimates.
Key service and technology revenue was $48.5 million, compared with an average Wall Street estimate of $48.2 million.
Overall revenue fell 9 percent to $54.9 million.
TiVo-owned subscription additions for the first quarter totaled 37,000, down from 48,000 a year ago. The TiVo-owned monthly churn rate was 1.4 percent.
Overall, TiVo-owned subscriptions ended the quarter at 1.6 million, with total subscriptions of 3.2 million. TiVo's software is also used in DVRs offered by television service providers such as Comcast Corp (CMCSA.O) and DirecTV Group Inc (DTV.O).
For the current quarter, TiVo forecast service and technology revenue of $47 million to $49 million, compared with the average analyst forecast for $47.3 million. TiVo forecast a net loss of $6 million to $8 million for its fiscal second quarter.
Shares in Alviso, California-based TiVo closed down 30 cents at $6.98 on the Nasdaq, then fell further to $6.90 in after-hours trading. (Reporting by Gabriel Madway; Editing by Andre Grenon, Phil Berlowitz)
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