TiVo 2003 Annual Report Download - page 48

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Table of Contents
INDEPENDENT AUDITORS' REPORT
The Board of Directors and Stockholders
TiVo Inc.:
We have audited the accompanying consolidated balance sheets of TiVo Inc. and subsidiaries (the "Company") as of January 31, 2004 and 2003 and the
related consolidated statements of operations, stockholders' equity (deficit) and cash flows for each of the years in the three-year period ended January 31,
2004. These consolidated financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these
consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of TiVo Inc. and
subsidiaries as of January 31, 2004 and 2003, and the results of their operations and their cash flows for each of the years in the three-year period ended
January 31, 2004 in conformity with accounting principles generally accepted in the United States of America.
/s/ KPMG LLP
Mountain View, California
March 3, 2004
47