* 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 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
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
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
(Reporting by Gabriel Madway; Editing by Andre Grenon, Phil