TiVo reports earnings for "stub" period

TiVo, whose service allows people to record TV shows onto a hard drive instead of a videotape, is changing its fiscal year and reporting earnings for January.

The company's fiscal year will now end Jan. 31, instead of Dec. 31, TiVo said Thursday. As a result, the company is reporting revenue and profit for January alone. Analysts didn't make predictions for this so-called stub period, according to First Call.

TiVo reported a net loss of $19 million, or 47 cents per share, for January, compared with a net loss of $8.8 million, or 25 cents per share, in the same month last year.

Revenue for January increased 638 percent to $989,000, compared with $134,000 for the same month last year.

The company picked up about 18,000 new subscribers in January, bringing the total to 154,000, according to the company.

The company's fourth-quarter earnings beat analyst expectations.

TiVo is counting on partnerships with TV networks, advertisers and content providers to increase revenue for the rest of its fiscal year, a company representative said Thursday. Although subscriptions now make up a majority of its revenue, the company hopes to bring in equal amounts of revenue from subscriptions and partnerships in the future.