If press releases moved stocks, TiVo (NASDAQ:TIVO) wouldn't still be stuck trading in the single digits. This morning, the digital video recorder pioneer announced that it would team with Verizon (NYSE:VZ) to give Verizon Wireless customers the ability to program their TiVo boxes remotely from their cell phones.

TiVo Mobile should be rolled out over the summer, and it's not the first partnership TiVo has struck with a major company to make its product stand out in a sea of DVR clones. Last November, a deal with Yahoo! (NASDAQ:YHOO) opened the door for TiVo owners to program their recorders from anywhere they could access Yahoo!'s TV site.

TiVo seems to be going to all the right parties. The same month that the company hooked up with Yahoo!, it also announced that it was testing the downloading of recorded programs from TiVo to the Apple (NASDAQ:AAPL) iPod and Sony (NYSE:SNE) PSP devices. I haven't tried to hook up my TiVo to my Sling Media Slingbox yet, allowing me to stream my recorded shows to my computer over my home network, but I know I can.

Yes, TiVo is a cool company. Unfortunately, it's wearing red to all of these hot parties. Until the company is able to post consistent profitability, TiVo could be photographed next to a UFO as it sings a duet with Elvis Presley, and the market would still yawn. TiVo has proven that it can stand out as a great brand in a world of cookie-cutter DVR competitors, but now it needs to let its income statement strut its stuff, too.

TiVo has been a disappointment for investors since the stock was recommended to Motley Fool Stock Advisor newsletter subscribers nearly three years ago. Even though the average pick in that growth stock newsletter has gained an average of 59.1% -- far better than the 19.1% average market return during that same time -- TiVo stock has shed more than a third of its value.

So, Tivo, by all means, continue to go to these fancy parties! Just work toward bringing something of substance to the table. You know, like an earnings casserole? This dip you've been bringing over for the past few years is getting pretty stale.

Longtime Fool contributor Rick Munarriz does have a TiVo, but he does not own shares in the company. The Fool has a disclosure policy. Rick is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.