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Table of Contents
TIVO INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share and share amounts)
Fiscal Year Ended January 31,
2006 2005 2004
Revenues
Service and technology revenues (includes $6,805 and $19,725 from related parties for the fiscal years ended
January 31, 2005 and 2004, respectively) $ 170,859 $ 115,476 $ 77,357
Hardware revenues 72,093 111,275 72,882
Rebates, revenue share, and other payments to channel (includes $103 of contra-revenues-related parties for the
fiscal year ended January 31, 2004) (47,027) (54,696) (9,159)
Net revenues 195,925 172,055 141,080
Cost of revenues
Cost of service and technology revenues 34,961 35,935 31,314
Cost of hardware revenues 84,216 120,323 74,836
Total cost of revenues 119,177 156,258 106,150
Gross margin 76,748 15,797 34,930
Research and development 41,087 37,634 22,167
Sales and marketing (includes $1,100 and $7,692 to related parties for the fiscal years ended January 31, 2005
and 2004, respectively) 35,047 37,367 18,947
General and administrative 38,018 16,593 16,296
Total operating expenses 114,152 91,594 57,410
Loss from operations (37,404) (75,797) (22,480)
Interest income 3,084 1,548 498
Interest expense and other (includes $671 interest expense to related parties for the fiscal year ended
January 31, 2004) (14) (5,459) (9,587)
Loss before income taxes (34,334) (79,708) (31,569)
Provision for income taxes (64) (134) (449)
Net loss attributable to common shareholders $ (34,398) $ (79,842) $ (32,018)
Net loss per common share - basic and diluted $ (0.41) $ (0.99) $ (0.48)
Weighted average common shares used to calculate basic and diluted net loss per share 83,682,575 80,263,980 66,784,143
The accompanying notes are an integral part of these consolidated statements.
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