TiVo 8-K 2008
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 18, 2008
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code (408) 519-9100
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
On November 18, 2008, we commenced a plan to reduce our operational expenses, primarily through a reduction in headcount, as we manage through the challenges presented by a difficult economic climate and a rapidly evolving retail consumer market.
We expect to incur pre-tax charges of approximately $1 million, primarily for employee-related severance benefits and out-placement costs. We expect to record these charges in the fourth quarter of fiscal year 2009 ending January 31, 2009. Substantially all of these charges will result in cash expenditures.
Forward Looking Statements:
This report contains forward-looking statements, including those regarding the expected charges and future cash expenditures under, and the anticipated timing, of the plan to reduce our operational expenses. All forward-looking statements are based on managements estimates, projections and assumptions as of the date hereof and include assumptions that underlie such statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as, believe, expect, may, will, intend, estimate, continue, or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. Factors that may cause actual results to differ materially include delays in development, competitive service offerings and lack of market acceptance, as well as the other potential factors described under Risk Factors in the Companys public reports filed with the Securities and Exchange Commission, including the Companys Annual Report on Form 10-K for the fiscal year ended January 31, 2008, Quarterly Reports on Form 10-Q for the quarter ended April 30, 2008 and July 31, 2008, and Current Reports on Form 8-K. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. The Company disclaims any obligation to update these forward-looking statements.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.