TiVo Community Forums Archives - Q2 results

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Q2 results - conference call
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Posted by: tornado

Listening to the second-quarter conference call now. RealAudio Stream

The press release is out, and things look good! PDF

Now I'll sit back and listen and let the folks who understand more about this than I do post and explain more. :)

Posted by: xuxa

more retailers Good Guys, Tweeter, Amazon, Ultimate Elctronics etc.

Posted by: tornado

From the press release:

quote:
SONY to offer next-generation DVR in U.S. using technology licensed from TiVo
TiVo announced today that SONY will offer a new digital video recorder with the TiVo service in the U.S. market this holiday season. The next generation unit, based on a SONY design, uses technology licensed from TiVo. The introduction of this product follows SONY’s recent launch of a DVR in the Japanese market also using technology licensed from TiVo.

TiVo expands distribution to meet expected record holiday-season demand
Today, TiVo unveiled plans to broaden distribution for its TiVo-branded Series2 digital video recorder, announcing deals with national retail partners including Tweeter, Amazon.com and Ultimate Electronics. Best Buy, The Good Guys! and Abt Electronics have already signed on with TiVo to sell Series2. “The Series2 DVR will be available in more stores than ever, offering consumers a broader selection of retailers for their TiVo purchase,” said Ramsay.

Posted by: xuxa

I just looking forward to one of the analysts asking why Tivo is in no doubt loading porn onto the Tivos :D :D

:D

Posted by: stevel

Tweeter! Yay!

This is all good news!

Posted by: tornado

One analyst just asked about a free-space meter and batch save to VCR. :p

Posted by: martinp13

I hope they told that analyst to go read the TiVo forums on such topics. :)

Posted by: tornado

They put the smack down and told him to use the search function.

Posted by: tornado

Whoa -- they just reported that churn is well under 1%. I knew the customer base was loyal, but dang!

And that includes people cut off for non-payment.

Posted by: xuxa

Now if they could only get the customers

Posted by: tornado

If that new combo box really ships in volume before Christmas and especially if DIRECTV pushes it to existing DTV subs, the installed base could explode.

(Note: I'd prefer not to explode myself.)

Posted by: Francesco

....Let somebody else do it for you??? :D

Posted by: MikeCG

http://msnbc-cnet.com.com/2100-1040...d&subj=cnetnews

Digital video recorder company TiVo reported Thursday a sixfold increase in revenue that met raised estimates and a net loss for the second quarter.....

....The San Jose, Calif.-based company also announced the discovery of a balance sheet error, and will restate financial results for the quarter ending April 30, as well as for the year ending Jan. 31. TiVo said the restatement will not affect the company's current reported cash, revenue or operating loss.....

......The company's new audior, KPMG, discovered the balance sheet error. TiVo's previous auditor, Arthur Andersen, was removed from duties in May of this year....

Posted by: David LM

Since very little was said about the Series II DirecTiVo, can we probably assume that it will not reach retail until October or November? If it was going to hit the stores in September, as some have speculated, wouldn't it have been noted?

Posted by: MighTiVo

TiVo revenue jumps

By Richard Shim
Staff Writer, CNET News.com
August 22, 2002, 4:09 PM PT

update Digital video recorder company TiVo reported Thursday a sixfold increase in revenue that met raised estimates and a net loss for the second quarter.
The San Jose, Calif.-based company also announced the discovery of a balance sheet error, and will restate financial results for the quarter ending April 30, as well as for the year ending Jan. 31. TiVo said the restatement will not affect the company's current reported cash, revenue or operating loss.

Richard has been busy today...
http://www.tivocommunity.com/tivo-v...&threadid=72898

Posted by: DrStrange

quote:
Originally posted by David LM
Since very little was said about the Series II DirecTiVo, can we probably assume that it will not reach retail until October or November?

They pretty much said Sony or DirecTV S2s wouldn't be shipping in any financially relevant volume until Q4.

Posted by: SpiralEx

yeah increase in revenue because they started charging $12.95 a month instead of $9.95 .... big surprise ... you think they had a whole team of monkey's in the back working on that press release?

Ha Ha Ha

:) :) :) :D :D :D

Posted by: mbklein

quote:
TiVo reported Thursday a sixfold increase in revenue

quote:
yeah increase in revenue because they started charging $12.95 a month instead of $9.95

Since when does 12.95 / 9.95 = 6? Even with a 30% increase in price, you still need a 460% increase in sales to spark that kind of overall increase.

Of course, it's not all subscribers. Self-branding and selling the Series2's probably had a lot to do with it.

Michael

Posted by: MikeCG

This is more of the same, but I think it's significant because it's an article from the New York Times. People here know it, but Tivo has really become mainstream.

http://www.nytimes.com/2002/08/23/t...todaysheadlines

TiVo Reports Smaller Loss for 2nd Quarter

Posted by: lgspence

Here's some news about TiVo's' 2nd quarter...

NYTimes TiVo article 8-23-02

Posted by: DrStrange

There are already two threads on the first page about 2nd quarter results, and this one already mentions that story.

Please do a search, or at least scan recent threads before posting a "new" story.

Posted by: Bob

Here is an interesting article from Daily Variety. Please don't comment on the stock price.

Daily Variety, Aug. 23, 2002, Page 6
TIVO SUBS SURFACING
Digital recorder firms ups revs, trims losses
By MARC GRASER

TiVo reported a considerably smaller net loss for its fiscal second quarter as revenues grew sharply.
The digital video recorder maker said it lost $3 million during the quarter ended July 31, compared to a loss of $34.5 million a year ago.

Revenues soared to $23.9 million from $4 million a year ago, with the company attributing much of that growth to the addition of 42,000 paying subscribers, giving it 464,000, and to a lucrative licensing deal with Sony.

Deals with Sony and other consumer electronics manufacturers are expected to help TiVo integrate its technology into TVs, computers and other products.

TiVo makes software for set-top boxes that allows TV viewers to pause, rewind or instantly replay any live broadcast by recording programs onto a computer hard drive. Device also records programs automatically onto the hard drive, eliminating the need for videocassettes.

Based on the results, TiVo execs raised the company's revenue guidance for fiscal 2003 and lowered its operating-loss estimate for the year.

During the current third quarter, TiVo expects to generate revs of $12.5 million-$14 million, with an operating loss of $13 million-$16 million and net activations of 40,000-50,000 subscriptions.

Raised revenue projection

For fiscal 2003 TiVo now expects revenues of $57 million-$62 million, better than its prior forecast of $50 million-$60 million. It expects an operating loss of $64 million-$72 million, compared with a prior expectation of $65 million-$80 million in operating losses.

It expects net subscriber additions of 250,000-275,000, bringing it to a total sub count of 630,000-655,000 by year's end.

TiVo also said it had identified an accounting error, apparently made under the watch of former auditor Arthur Andersen, in calculating certain noncash items related to convertible debt notes issued last August. Because of that, the company said it would restate some of its financial results from fiscal 2002, amending its 10-K filing for the fiscal year ended Jan. 31 and its 10-Q for the quarter ended April 30 to reflect the miscalculations.

Shareholder equity as of Jan. 31 rose by $2 million; for the quarter ended Jan. 31, an additional $3 million in noncash interest expense will be added.

Shares of TiVo rose 3¢ to close at $4.17 Thursday.

© 2002 Variety, Inc.