A timeout is when you don't make a move in the accepted time frame, say 1 move in 3 days. It is a loss. To prevent getting more, either make sure you make all your moves on time, and/or play in games that have a long time per move say a week or longer.
Most tournaments require that you have a fairly low timeout stat to help prevent 'no shows' from clogging up the tounament.
What are timeouts and why can't I join tournaments because of this?