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(April 6, 2001) -- TiVo said today that it expects to have revenues of between $20 million and $24 million for its current fiscal year. The company has been taking steps to hasten its growth in recent months.

TiVo, which makes digital video recording devices, said on Thursday that it would cut some 25% of its staff, or 80 people, as part of an overall cost-cutting plan to reduce expenses by close to 35%. The company said the cuts would mean that it would not have to seek additional funding during the fiscal year ending Jan. 31, 2002, and would decrease the its burn-rate by $60 million during the same period. -- Catharine P. Taylor

Copyright April 2001, Crain Communications Inc.

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