Financials: TiVo up, Concurrent down
TiVo Inc.'s stock jumped more than 12 percent following a narrower net loss, while Concurrent Computer Corp.'s dipped after its first-quarter outlook.
TiVo gains on Q2 results
The second quarter was good to TiVo Inc. The digital-recorder-maker posted a net loss of $3 million, or 6 cents a share, compared to a net loss of $34.5 million, or 82 cents a share, in the year earlier period.
Revenue reached $23.9 million, up nearly six fold from the $4.1 million recorded a year ago.
TiVo expects to add up to 50,000 subscribers in the third quarter with total add for the year coming in between 250,000 and 275,000, which is lower than the previously forecast 250,000 to 300,000.
Despite a lowered forecast for subscribers, TiVo upped its revenue guidance for fiscal 2003, citing a better outlook for licensing revenue. The company expects to post revenue between $57 million and $62 million. Previously, the company had provided a forecast of between $50 million and $60 million.
As of 12:23 p.m. EDT, TiVo shares were up 52 cents to $4.69.
Concurrent posts positive results, revises outlook
Concurrent Computer Corp.'s shares were shedding nearly 22 percent of their value at one point in mid-day trading despite the better-than-expected revenue results during the fourth quarter.
The company earned $5 million, or 8 cents a share, during the fourth quarter, up from a year-ago loss of $800,000, or a penny per share. It beat analysts' on average estimates of 4 cents, according to Thomson Financial/First Call.
Revenue from video-on-demand systems was $17.4 million from the quarter, up from $6.2 million in Q4 2001. To date, the company's VOD service has been deployed to more than three million digital subscribers.
Year-over-year revenue jumped from $72.8 million in fiscal 2001 to $89.4 million in fiscal 2002.
Despite positive Q4 results, Concurrent shares were taking a beating. Shares were down 96 cents to $3.41 as of 12:23 p.m. EDT. The drop was fueled by a revised earnings outlook for the first quarter. The company expects to earn between 1 cent and 2 cents a share for its first quarter, which will fall below the First Call consensus of 3 cents a share.