TiVo exceeded Wall Street expectations and saw its quarterly losses shrink thanks to cost-cutting measures and the addition of 319,000 new subscribers.

TiVo said it had a fiscal first-quarter loss of $857,000, or 1 cent per share, compared with a loss of $9.07 million, or 11 cents per share, in the same period of 2004. Revenue for the quarter was $46.9 million, up 36% from $34.5 million in the year-ago period.

Executives have told investors that TiVo will reach profitability by the last quarter of the current fiscal year. They still expect the company to post a net loss for the year, however.