TiVo Reports Profit Gains

ALVISO, May 29:
First-quarter profit at TiVo jumped from last year’s $835,000 to $3.6 million,
on revenues of $54.9 million.

"This quarter was
about improving our financial profile by managing our subscription acquisition
costs, making progress on our key growth initiatives such as our mass
distribution strategy, and protecting our intellectual property," said Tom
Rogers, the president and CEO of TiVo. "We are especially pleased with our
record net income and adjusted EBITDA results for the quarter. Our well
executed performance this quarter positions us to post our first profitable
year on an Adjusted EBITDA basis in fiscal 2009."

Adjusted EBITDA was $11.1
million, compared to $6.7 million in the year-ago period.

TiVo-owned subscription
gross additions for the first quarter were approximately 48,000, compared to
57,000 gross additions for the year-ago period. Overall, TiVo-owned
subscriptions ended the quarter at 1.7 million. Cumulative total subscriptions
as of April 30, 2008, were 3.8 million. Additionally, the monthly churn rate
was 1.3 percent, down from 1.5 percent in the prior quarter.

—By Mansha Daswani