There is a trend to develop blind or semi-blind source extraction algorithms based on second-order statistics, due to its low computation load and fast processing speed. An important and primary work is done by Barros and Cichocki, who propose an extraction algorithm based on a time delay. The algorithm is simple and fast, but its performance is not satisfying. The paper extends their work and proposes a robust algorithm based on eigenvalue decomposition of several delayed covariance matrices. It is faster and has better performance, which is confirmed by theoretical analysis and computer simulations. Key words: Temporal structure; Eigenvalue decomposition; Source extraction; Blind source separation