LIBERATE REPORTS SOLID QUARTER, DESIGN WINS
Liberate Technologies reported Q3 results with revenue of $7.5 million, slightly above our estimate of $7.2 million, and the EPS of $(0.14) bettered our $(0.18) estimate. However, we believe design wins are the most important metric for tracking Liberate's business over the next 12 to 18 months as they help quantify the future installed base and potential recurring high-margin royalty revenue. Since November, Liberate has announced five major design wins, including Insight, Pegasus, Rogers, Shaw and Telewest. We suspect Liberate has penetrated only about 30 of the top 100 global service providers with many more deals ahead. Deployments also appear to be gaining traction. Cable & Wireless (CWP $62-9/16), the most advanced service provider, has over 120,000 subscribers, up from 50,000 at the end of November. In the quarter, the U.K.'s Telewest (TWSTY $73) began deploying Liberate's platform to its 2.5 million digital cable homes. From the Web Report Vol #3, Issue 12
I assume WIND is inside?
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