TiVo’s Loss Widens as Legal Costs Rise
From the Associated Press
TiVo Inc. posted a quarterly loss Wednesday that was seven times greater than the red ink a year earlier, mainly because of hefty legal costs associated with an intellectual property patent dispute.
The maker of digital video recorders said it lost $6.5 million, or 7 cents a share, in its fiscal second quarter ended July 31, compared with a loss of $892,000, or 1 cent, a year earlier. Revenue rose 50% to $59.2 million.
The Alviso, Calif.-based company would not disclose how much it spent on legal battles but said “general and administrative” expenses, which include payments to some accountants, lawyers and consultants, swelled to $11.09 million last quarter, up from $8.41 million a year earlier.
