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Technology Stocks : Tivo (TIVO) Interactive TV -- Ignore unavailable to you. Want to Upgrade?

To: Gamma Positive who wrote (882)	3/17/2003 1:33:04 PM
From: Bill Harmond	Respond to of 2093

adage.com

To: Gamma Positive who wrote (882)	3/18/2003 9:28:47 AM
From: Ron	Read Replies (1) \| Respond to of 2093

CHICAGO, March 18 /PRNewswire/ -- William Blair & Company today announced that it initiated research coverage of TiVo Inc. (Nasdaq: TIVO $5.04), the leader in the personal video recorder (PVR) market, with an Outperform rating and company profile of Aggressive Growth. With an approximate 40% share of the market, TiVo is becoming eponymous with a PVR, noted analyst David Farina. "TiVo essentially created and evangelized the PVR market," he said. "We believe its first-to-market status and its superior technology have enabled it to command an impressive share of the market. Moreover, the company has a significant technology lead as well as numerous processes and technology patents that should help it maintain its competitive edge. We believe that TiVo is well equipped to remain the leader in this potentially explosive industry." Farina also noted that TiVo's fixed-cost, recurring-revenue model is attractive. "To use TiVo hardware, a customer must sign up for the TiVo service," he said. "As the company expands and adds customers, the costs are relatively fixed. If the company can continue to add customers at a rapid clip, TiVo potentially could be an extremely profitable recurring-revenue business."