Here’s a summary of TiVo’s latest financial numbers. More detailed information can be found here (TiVo press release).

Technology Update

• During the quarter ending July 31st, TiVo released the TiVo HD.
• Comcast services is progressing. Comcast has agreed to fund development work to bring TiVo to additional set top boxes including Scientific Atlantic boxes.
• Comcast has said that they, “we will commence the TiVo rollout process shortly, which will continue rolling out throughout the fall in Comcast’s New England Division including metro Boston, Southeast Massachusetts and New Hampshire”.
• During the quarter DIRECTV announced a deal with TiVo to develop a software upgrade to enhance the user experience for DIRECTV customers who have DIRECTV DVRs with TiVo service.

Financial Numbers

• Second quarter net loss of $17.7 million, which included a combined inventory write-down and inventory purchase commitment charge of $11.2 million, as compared to TiVo’s net loss guidance of $5 to $8 million that didn’t contemplate the inventory related write-down.
• Net loss per share was $0.18.
• Service and technology revenues increased 7% to $56.5 million ($52.8 million for the same period last year).
• Service revenues were $53.4 million (compared to the year ago quarter when service revenues were $49.4 million).
• Technology revenues were $3.1 million, which was lower than expected due to timing of development work related primarily to DIRECTV and international opportunities

Subscriptions

• TiVo-Owned subscription gross additions for the second quarter were 41,000, compared to 74,000 gross additions for the year-ago period
• Overall, TiVo-Owned subscriptions totaled 1.71 million, up 136,000 on an annual basis compared to the year ago-period
• Net decline in DIRECTV TiVo subscriptions during the period as DIRECTV is no longer deploying new TiVo boxes
• Cumulative total subscriptions as of July 31, 2007 were 4.2 million
• Monthly churn rate was 1.2% compared to 1.1% in the prior quarter

Obviously the financial numbers aren’t that positive. That being said, I still think TiVo’s future is looking bright. The Comcast and Cox partnerships should produce a lot of new TiVo subscribers. Once this occurs, TiVo will be able to straighten out its financial situation.

Don’t forget that tomorrow TiVo is going to release financial results for the second quarter ended July 31, 2007. I’m plan on listing to the conference call so stay tuned for an update on.

Hopefully we’ll hear more about the Comcast & Cox partnerships. I know there are a lot of people out there who are anxious to get TiVo on their cable company DVR.

ALVISO, Calif., Aug 15, 2007 /PRNewswire-FirstCall via COMTEX News Network/ –

TiVo Inc. (Nasdaq: TIVO) announced today that it will release financial results for the second quarter ended July 31, 2007 after market close on Wednesday, August 29, 2007.

TiVo will also host a conference call and Webcast to discuss the first quarter financial and operating results and guidance outlook at 2:00 pm PT (5:00 pm ET) on the same day. To listen to the discussion, please visit http://www.tivo.com/ir and click on the link provided for the Webcast. The Webcast will be archived and available through September 5, 2007.

Granted it’s not a lot of money however, TiVo posted a profit of 1 cent per share for this quarter (ending April 30). This is a heck of a lot better than last quarter when TiVo posted at loss of 13 cents per share.

For the quarter ended April 30, the company posted a profit of $835,000, or a penny per share, compared with a loss of $10.7 million, or 13 cents per share, in the same period a year ago.

On an adjusted basis, the company recorded a first-quarter profit of $6.7 million versus a year-ago loss of $6.9 million.

Revenue rose 6 percent to $60.4 million from $56.8 million, with service revenue up 15 percent to $54.2 million.

Analysts, on average, expected a loss of 2 cents per share on sales of $58.4 million, according to a poll by Thomson Financial.

The DVR pioneer, which has never posted a quarterly profit until now, said it expects to post a second-quarter net loss in the range of $5 million to $8 million.

Shares of TiVo rose 25 cents, or 4.1 percent, to $6.36 in Wednesday’s trading. In aftermarket activity, shares lost 11 cents to $6.25.

Today, TiVo published their annual report which contains at least two pieces of information that I found interesting. According to the report, TiVo earned $16.2 million in revenue directly from the Comcast TiVo partnership. The report also states that the Comcast and Cox roll outs are expected to launch in FY08.

………. Development and deployment of the TiVo service software solution for Comcast and Cox are expected to launch in initial markets during fiscal year 2008. During fiscal year 2008, we expect to recognize technology revenue associated with the development work from our Comcast and Cox agreements.

Service and Technology Revenues. Our service and technology revenues, which include subscription fees received for the TiVo service, advertising fees, and engineering and licensing fees, increased $47.1 million or 28% during the fiscal year ended January 31, 2007 compared to the prior fiscal year. This increase was primarily due to an increase in our cumulative TiVo-Owned subscription installed base of approximately 235,000 net TiVo-Owned subscriptions during the fiscal year ended January 31, 2007, coupled with $16.2 million in technology revenues from licensing and engineering work recognized from our Comcast Agreement.

The report contains a lot of other useful information which I just don’t have time to go over right now. Feel free to read the report for yourself if you’re into that kind of thing. I may try and summarize the report a little more tomorrow but for now I just need to get to bed since I have to get up early….

This analyst thinks so…..

JMP Securities LLC analyst Ingrid Ebeling gave TiVo a “Market Outperform” rating and an $8 price target.

She is optimistic on the company’s deal with Comcast to serve as a software-only provider of the TiVo interface that resides on cable operators’ digital video recorders. The TiVo-Comcast deal is set to debut in select markets in late spring or early summer.

I think that the Comcast partnership is a big deal. In fact, I wouldn’t be surprised to see other cable companies partner up with TiVo once Comcast starts to roll out TiVo software on their DVRs. I know from personal experience how horrible the default set top box software is. TiVo is going to make a lot of Comcast customers extremely happy. Once other cable companies see this, they’re going to want to jump on the bandwagon and  provide TiVo sofware as alternative.

What do you think about TiVo’s prospects?  Do you think that the Comcast partnership is going to help TiVo form a partnership with other cable companies?

Today TiVo announced their fourth quarter financial results. Here’s a summary taken directly from this document.

• Service and Technology revenues increased 22% year-over-year to $57.4 million in the fourth quarter
• Net loss was $18.7 million in the fourth quarter, compared to a net loss of $21.1 million in the year-ago quarter.
• Adjusted EBITDA loss was $14.2 million in the fourth quarter, compared to a loss of $19.9 million in the year-ago quarter
• TiVo-Owned subscriptions increased 16% year-over-year to end the year at 1.7 million
• Amazon Unbox On TiVo officially launched and now broadly available

………..

“As TiVo enters Fiscal 2008, we believe there are five engines that will drive the Company’s momentum in the coming year that didn’t exist last year.

• First, delivering broadband content directly to the television becomes a reality this year through our deal with Amazon, as well as through our other broadband content features such as TiVoCast, Home Movies via OneTrueMedia, which provides friends and family a private channel to view personal content through their TiVo service, and the TiVo Desktop autotranscode functionality, which gets internet video off of the Web and displays it on the TV set.
• Second, our mass distribution strategy becomes a reality as the TiVo service on Comcast product is expected to launch in its initial market in the near-future and Cox is targeted for initial market availability later this year.
• Third, we came out of the holiday season with the full attention of our retail partners focused on the important role that TiVo can play in their goal to offer bundles of High Definition television products and services to consumers. We will be highly focused this year on launching a lower-priced, mass appeal High Definition product.
• Fourth, for the first time, TiVo plans to advertise throughout the year with a far more extensive effort to educate the market on TiVo’s superior brand and the service’s highly differentiated features.
• Fifth, we believe our financial model will move us significantly closer to Adjusted EBITDA break-even for Fiscal Year 2008 and substantially improve the perception of the Company’s long-term financial prospects.

My good friend Thomas Hawk is known for his witty comments and insightful posts about TiVo and technology in general. This time around Thomas has pretty much debunked a post that Gizmodo recently published about TiVo. In his post, Thomas says the following:

One thing that they are *not* though are stock analysts — and when they diverge from covering the latest gadgets and gizmos into the world of stock analysis I think they do their readers a disservice.

I have to agree with Thomas. Gizmodo is great at covering the gadget industry but when it comes to stocks and investing, I think they should leave the analysis to somebody who really knows what they’re talking about (Thomas is an investment advisor, btw)…

According to this news on Yahoo.com, it appears as though Amazon and TiVo are in talks to distribute Amazon.com movies to your TiVo.

Seattle-based Internet retailer Amazon, which recently launched a digital video downloading service aimed at taking on Apple’s Computer Inc.’s iTunes service, is talking with TiVo about a deal that “could be a key step toward bridging the gap between the home computer and the television set,” the New York Post reported Friday, citing two sources familiar with the discussions

I haven’t been able to find anything else on this right now but the market appears to like the news.

More to come as I find out more..

• TiVo Puts Investors In A Suicide Squeeze Play: Good read especially if you invest in TiVo stock.
• Ad To TV Industry, Series 3 TiVo Coming Soon: Yet another indication that the Series 3 TiVo is about to be released.