TiVo 2004 Annual Report Download - page 20

Table of Contents
Index to Financial Statements
Quarterly Results of Operations
The following table represents certain unaudited statement of operations data for our eight most recent quarters ended January 31, 2005. In
management's opinion, this unaudited information has been prepared on the same basis as the audited annual financial statements and includes all
adjustments, consisting only of normal recurring adjustments, necessary for a fair representation of the unaudited information for the quarters presented. This
information should be read in conjunction with our audited consolidated financial statements, including the notes thereto, included elsewhere in this Annual
Report. The results of operations for any quarter are not necessarily indicative of results that may be expected for any future period. Certain amounts in prior
periods have been reclassified to conform to the current year presentation.
Three Months Ended
Jan 31,
2005
Oct 31,
2004
Jul 31,
2004
Apr 30,
2004
Jan 31,
2004
Oct 31,
2003
Jul 31,
2003
Apr 30,
2003
(unaudited, in thousands except per share data)
Revenues
Service revenues $ 32,996 $ 27,678 $ 24,333 $22,159 $ 19,083 $16,018 $13,757 $12,702
Technology revenues 1,169 699 3,427 3,015 2,126 6,656 3,649 3,366
Hardware revenues 50,452 27,894 18,592 14,337 25,537 24,479 8,057 14,809
Rebates, revenue share, and other payments to channel (25,188) (17,944) (6,576) (4,988) (4,114) (3,897) 1,209 (2,357)
Net revenues 59,429 38,327 39,776 34,523 42,632 43,256 26,672 28,520
Costs of Revenues
Cost of service revenues 10,426 6,505 6,836 5,593 5,252 4,370 3,909 4,174
Cost of technology revenues 440 1,465 2,708 1,962 2,496 4,464 3,020 3,629
Cost of hardware revenues 52,267 28,486 22,720 16,850 26,687 25,413 8,558 14,178
Total costs of revenues 63,133 36,456 32,264 24,405 34,435 34,247 15,487 21,981
Gross margin (3,704) 1,871 7,512 10,118 8,197 9,009 11,185 6,539
Operating Expenses
Research and development 11,206 9,291 8,138 8,999 5,474 5,432 5,789 5,472
Sales and marketing 11,529 14,212 6,026 5,600 4,742 5,704 4,502 3,999
General and administrative 4,194 4,366 3,794 4,239 4,508 3,949 4,061 3,778
Loss from operations (30,633) (25,998) (10,446) (8,720) (6,527) (6,076) (3,167) (6,710)
Interest income 458 397 366 327 135 133 116 114
Interest expense and other (3,464) (671) (668) (656) (5,672) (1,330) (1,311) (1,274)
Loss before income taxes (33,639) (26,272) (10,748) (9,049) (12,064) (7,273) (4,362) (7,870)
Provision for income taxes (26) (78) (12) (18) (297) (115) (25) (12)
Net loss (33,665) (26,350) (10,760) (9,067) (12,361) (7,388) (4,387) (7,882)
Net loss per share
Basic and diluted $ (0.42) $ (0.33) $ (0.13) $ (0.11) $ (0.18) $ (0.11) $ (0.07) $ (0.12)
Weighted average shares used to calculate basic and diluted net loss per
share 80,793 80,267 80,197 79,800 69,055 68,226 65,834 64,021
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