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#1
30-05-2008, 11:19 PM
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TiVo Q1 profit rises on lower costs
TiVo Q1 profit rises on lower costs
Digital video recorder maker TiVo has reported an unexpected first-quarter profit as a result of lower spending on marketing and research and development. TiVo Chief Executive Tom Rogers said the company enjoyed its best first quarter ever of being "comfortably net income positive," achieved by improved marketing and managing of its standalone TiVo business. "It's our effort to make sure that our standalone TiVo business won't cloud the enthusiasm people have for our other projects," Rogers told Reuters in an interview.. Rogers said second-quarter results would be lower than expectations because of higher marketing costs related to summer holidays and expenses associated with the EchoStar and Dish litigation. The company said net income for the quarter ended April 30th rose to $3.6 million, or 4 cents per share, from $835,000, or 1 cent per share, in the year-ago quarter
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