TiVo 2009 Annual Report Download - page 50

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Table of Contents
Three Months Ended
Jan 31,
2010 (1)
Oct 31,
2009 (2)
Jul 31,
2009 (3)
Apr 30,
2009 (4)
Jan 31,
2009 (5)
Oct 31,
2008 (6)
Jul 31,
2008 (7)
Apr 30,
2008 (8)
(unaudited, in thousands except per share and share amounts)
Revenues
Service revenues $ 38,442 $ 37,701 $ 41,500 $ 42,129 $ 44,115 $ 47,676 $ 48,174 $ 48,443
Technology revenues 6,821 9,351 7,349 6,386 4,353 3,997 5,369 6,407
Hardware revenues 23,190 9,808 8,533 6,376 10,712 12,777 11,699 5,945
Net revenues 68,453 56,860 57,382 54,891 59,180 64,450 65,242 60,795
Cost of revenues
Cost of service revenues 10,876 10,021 9,831 10,150 11,180 10,984 11,245 11,194
Cost of technology revenues 4,434 5,924 5,862 4,483 2,740 2,516 3,124 3,920
Cost of hardware revenues 27,962 14,436 12,935 10,576 15,764 16,339 15,274 10,365
Total cost of revenues 43,272 30,381 28,628 25,209 29,684 29,839 29,643 25,479
Gross margin 25,181 26,479 28,754 29,682 29,496 34,611 35,599 35,316
Operating expenses
Research and development 18,245 15,370 14,358 15,066 15,459 16,553 15,323 14,748
Sales and marketing 6,385 5,727 5,463 5,695 6,517 6,585 5,906 5,936
Sales and marketing, subscription acquisition costs 2,022 1,206 838 982 1,690 2,301 888 1,159
General and administrative 10,167 11,165 11,227 12,242 11,382 10,344 10,869 10,336
Litigation Proceeds — — — — — (87,811) — —
Loss from operations (11,638) (6,989) (3,132) (4,303) (5,552) 86,639 2,613 3,137
Interest income 426 287 136 190 423 17,213 421 579
Interest expense and other (4) 9 78 — (278) (94) (94) (87)
Loss before income taxes (11,216) (6,693) (2,918) (4,113) (5,407) 103,758 2,940 3,629
Provision for income taxes 1,035 24 (19) (16) 1,840 (3,132) (23) (13)
Net loss $ (10,181) $ (6,669) $ (2,937) $ (4,129) $ (3,567) $ 100,626 $ 2,917 $ 3,616
Net loss per common share-basic $ (0.09) $ (0.06) $ (0.03) $ (0.04) $ (0.04) $ 1.00 $ 0.03 $ 0.04
Net loss per common share-diluted $ (0.09) $ (0.06) $ (0.03) $ (0.04) $ (0.04) $ 0.98 $ 0.03 $ 0.04
Weighted average common shares used to calculate basic net
loss per share 108,712,620 107,822,339 105,840,076 102,278,944 101,303,123 100,804,813 100,025,002 99,386,826
Weighted average common shares used to calculate diluted net
loss per share 108,712,620 107,822,339 105,840,076 102,278,944 101,303,123 102,569,559 102,217,222 102,709,583
(1) The fourth quarter of fiscal year ended January 31, 2010 results of operations includes a benefit of $373,000 in cost of hardware revenues resulting from
the sale of previously impaired inventory.
(2) The third quarter of fiscal year ended January 31, 2010 results of operations includes a benefit of $839,000 in cost of hardware revenues resulting from
the sale of previously impaired inventory.
(3) The second quarter of fiscal year ended January 31, 2010 results of operations includes a benefit of $29,000 in cost of hardware revenues resulting from
the sale of previously impaired inventory.
(4) The first quarter of fiscal year ended January 31, 2010 results of operations includes a benefit of $259,000 in cost of hardware revenues resulting from
the sale of previously impaired inventory.
(5) The fourth quarter of fiscal year ended January 31, 2009 results of operations includes a benefit of $518,000 in cost of hardware revenues resulting from
the sale of previously impaired inventory and a reduction of service revenues of $1.7 million related to the prospective change as of November 1, 2008
in estimated life of the product lifetime subscriptions from 54 months to 60 months.
(6) The third quarter of fiscal year ended January 31, 2009 results of operations includes a benefit of $1.4 million in cost of hardware revenues resulting
from the sale of previously impaired inventory.
(7) The second quarter of fiscal year ended January 31, 2009 results of operations includes a benefit of $1.4 million in cost of hardware revenues resulting
from the sale of previously impaired inventory.
(8) The first quarter of fiscal year ended January 31, 2009 results of operations includes a benefit of $1.6 million in cost of hardware revenues resulting
from the sale of previously impaired inventory.
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