Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : LBRT - Liberate -- Ignore unavailable to you. Want to Upgrade?

To: PoetTrader who wrote (154)	3/21/2000 6:15:00 PM
From: PoetTrader	Read Replies (2) \| Respond to of 409

Great quarterly RESULTS: Liberate to power AOL set-top box Company reports narrower-than-expected loss By Mike Tarsala, CBS MarketWatch Last Update: 5:34 PM ET Mar 21, 2000 NewsWatch SAN CARLOS, Calif. (CBS.MW) -- Liberate confirmed that its software will be the brains behind AOL's upcoming AOL TV computer, as the company reported a 68 percent revenue boost and a narrower-than-expected loss in the quarter ended Feb. 29. Liberate vs. the S&P 500 Interactive TV software maker Liberate (LBRT: news, msgs) reported a pro forma net loss of $12.1 million, or 14 cents a share, in its fiscal third quarter, compared with $6.1 million, or 11 cents, for the year-ago period. The pro forma number excludes merger-termination costs and some amortization expenses. Analysts had expected the company to lose 18 cents a share, reports First Call. "Our business is increasing, and not just in design wins," said Mitchell Kertzman, Liberate's chief executive. "The leadership that we said we have in the market is starting to show up in the financial results. The momentum clearly is with Liberate." Kertzman said he expects revenue to ramp in the next few quarters, then start to grow "very aggressively" starting next calendar year. He made reference to a number of sales already in the company's pipeline, which he said he couldn't discuss. Analysts project profit for the company starting in fiscal 2003 -- a goal Kertzman said the company is on track to achieve. Confirming suspicions, Kertzman told CBS.MarketWatch.com that Liberate's software will be used inside America Online's (AOL: news, msgs) AOL TV set-top box, scheduled to be available midyear. The computer is expected to appeal to the 65 million households not already online. Insiders say AOL has made the new product extremely easy to use. The AOL TV software will include access to popular AOL features, including online communities, Internet chat and instant messaging. Today on CBS MarketWatch Tech shares snap back; Dow rises Fed hikes short-term rate to 6% GE sees profit outpacing estimates Caldera, Aclara surge in opening day on market Due Diligence: Fuel-cell 'incubator' of new economy More top stories... CBS MarketWatch Columns Updated: 03/21/2000 4:12:48 PM ET "AOL has been keeping things quiet while they ramp for a launch, but it's completely built on the Liberate platform," Kertzman said. "We expect it to result in some exciting growth. ... This is going to accelerate what you can do with a platform like ours. It's going to make people all over the world sit up and take notice." Sales were $7.5 million, up from $4.5 million for the same quarter last year. The company signed Shaw Communications (SJR: news, msgs) and Insight Communications (ICCI: news, msgs) Telewest Cable as customers. The company's actual net loss was $18.7 million, or 22 cents, vs. $7.9 million, or $15.95 per share, in the year-ago period. The actual basic net loss for the nine-month period, also ended Feb. 29, was $43.8 million, or 68 cents a basic share. As of the last day of February, Liberate reported cash and short-term investments of $427.2 million, total assets of $550.2 million and stockholder equity of $483 million. Liberate shares fell to 67 5/64 in after-hours trading. Shares lost 3 1/8 to close at 70 in daytime trading Tuesday.