ALVISO, Calif. - Digital video recorder company TiVo Inc. says it narrowed its fourth-quarter loss as expenses fell and sales of older-model units were better than expected.
The Alviso, Calif., maker of software for digital video recorders says it lost $6.4 million, or 6 cents per share, compared with a loss of $19.5 million, or 20 cents per share, in the same quarter the year before.
The performance was better than the loss of 11 cents per share predicted by analysts polled by Thomson Financial.
Revenue fell to $74.1 million from $76.9 million, as service and hardware revenue slipped.
TiVo cut the cost of its hardware revenue by nearly half to $23.9 million during the quarter, according to the company. Total cost of revenue sank to $33 million from $59.5 million, allowing the company to improve its gross margin.
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