TiVo Announces Quarterly Loss of $15.3 Million

Television services company TiVo Inc (TIVO) reported a net loss of $15.3 million for the second quarter, compared with a loss of $2.7 million a year earlier. Net loss per share was 13 cents.

Net revenue slipped to $51.6 million, from $57.6 million a year earlier, the company said in a statement.

TiVo forecast a net loss of $19 million to $21 million for the third quarter of fiscal 2011. The company also forecast service and technology revenues in the range of $40 to $42 million.

" We have much to build upon and so much to look forward to over the coming months," CEO Tom Rogers said. "TiVo's future is bright and we look forward to the exciting developments that are on the horizon."