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Interactive TV stocks mixed after earnings

Interactive TV service and software companies OpenTV and TiVo see their stocks go in opposite directions after reporting mixed earnings results.

Interactive TV service and software companies OpenTV and TiVo saw their stocks go in opposite directions today after reporting mixed earnings results yesterday.

OpenTV's stock rose $10.63, or about 11 percent, to $108.50 today after reporting that revenues grew 150 percent for its fiscal fourth quarter. Meanwhile, TiVo, whose service enables TV viewers to record live programming and other features, saw its stock drop $6.81, or 15 percent, to $38.50 on reports of growing losses and an analyst downgrade.

OpenTV, a maker of interactive television software, said its fourth-quarter loss in 1999 was $4 million, or 10 cents per share on sales of $8.4 million. The results compared with a loss of $3.7 million, or 11 cents per share, from the same period a year ago.

Including one-time charges, the company reported a net loss of $113.1 million for the quarter, or $2.93 per diluted share. The charges included warrants granted to General Instrument for a joint marketing program as well as stock compensation plans.

OpenTV's stock has gained more than 36 percent this month alone as demand from its leading customer, BskyB, continues to add new customers and add new revenue generating e-commerce services for TV. OpenTV claimed that partners with e-commerce services up and running were generating an average of $1.6 million in sales per week during the latter part of the holiday season.

Meanwhile, TiVo reported a net loss of $35 million, or $1.03 per share, on revenues of $182,000 for its fiscal fourth quarter. For the year, TiVo reported a net loss of $67 million, or $5.49 per share, compared to a net loss of $10 million, or $3.25 per share in 1998.

TiVo reported that 26,000 receivers, which are used to enable the recording service, were sold during the quarter, a tenfold increase from the prior quarter.

Thomas Weisel Partners downgraded TiVo's stock from a "buy" to "market perform," according to information from Briefing.com.