TiVo 2007 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2007 TiVo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

Table of Contents
TIVO INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
Twelve Months Ended January 31,
2008 2007 2006
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(31,457) $(47,754) $(36,999)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of property and equipment and intangibles 10,326 7,759 6,347
Stock-based compensation expense 22,839 14,712 385
Inventory write-down 5,892 — —
Loss on inventory barter transaction and utilization of trade credits 1,331 — —
Allowance for doubtful accounts 923 215 48
Changes in assets and liabilities:
Accounts receivable (301) (745) 5,720
Inventories 3,566 (19,041) 1,165
Prepaid expenses and other 227 5,643 (3,377)
Accounts payable (12,437) 11,963 5,314
Accrued liabilities (9,492) (663) 4,276
Deferred revenue (22,254) (5,754) 20,329
Deferred rent and other long-term liabilities (1,253) 158 217
Net cash provided by (used in) operating activities $(32,090) $(33,507) $ 3,425
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of short-term investments (30,808) (28,621) (15,502)
Sales of short-term investments 50,200 7,850 15,687
Acquisition of property and equipment (7,422) (7,341) (7,075)
Acquisition of capitalized software and intangibles (375) (13,125) (3,915)
Net cash provided by (used in) investing activities $ 11,595 $(41,237) $(10,805)
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowing under bank line of credit — — 3,500
Payments to bank line of credit — — (8,000)
Payments of financing expenses related to line of credit — (641) —
Proceeds from issuance of common stock, net — 64,539 —
Proceeds from issuance of common stock related to exercise of warrants — 3,330 —
Proceeds from issuance of common stock related to exercise of common stock options 7,107 9,075 7,011
Proceeds from issuance of common stock related to employee stock purchase plan 3,397 2,792 2,922
Treasury Stock - repurchase of stock for tax withholding (276) (570) —
Net cash provided by financing activities $ 10,228 $ 78,525 $ 5,433
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS $(10,267) $ 3,781 $ (1,947)
CASH AND CASH EQUIVALENTS:
Balance at beginning of period 89,079 85,298 87,245
Balance at end of period $ 78,812 $ 89,079 $ 85,298
Cash paid for interest $ 56 $ 51 $ 14
Cash paid for income taxes 30 52 64
SUPPLEMENTAL DISCLOSURE OF OTHER NON-CASH INVESTING AND FINANCING INFORMATION
Adjustment to deferred compensation as a result of retirement due to forfeiture of unvested restricted common stock — — 625
Issuance of restricted common stock — — 2,934
Reversal of unamortized deferred compensation and additional paid-in capital related to prior year issuance of restricted
common stock — 2,421 —
Deferred compensation recorded from acceleration of stock option vesting — — 70
The accompanying notes are an integral part of these consolidated financial statements.
62