Analyst Ryan Hutchinson says the first quarter beat his estimates. He says solid performance offered further evidence that the company continues to gain traction in the digital-video recorder marketplace, and remains well positioned to expand into new markets, including advertising, content services, and home-networking services. He's encouraged by the company's continued strong operational performance and aggressive new growth strategy.
Based on guidance, Hutchinson raised the second-quarter estimates to a 24 cents loss on revenues of $26 million, and he sees 300,000 subscriber additions during the second quarter. He now sees a 97 cents fiscal 2005 (Jan.) loss on $116 million in revenues, and 1.7 million in subscriber additions.