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A very solid quarter. As previously noted on this board, Tivo's big paydays are behind us, but those recurring pennies are starting to roll in as subscriptions are on the rise. As more consumers get a taste of real Tivo, they'll tell their friends and we'll get a virtuous loop. The company has an excellent balance sheet, seasoned management and an unparalleled product. I also take great solace in the CAPS 1 star rating. That means there's lots of room to run.


Still long, still accumulating shares and still loving our faithful Series II box (and lifetime service, speaking of sweet).
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