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Date Posted: 09:26:07 03/22/00 Wed
Author: warren
Subject: LBRT & AOL..
In reply to: warren 's message, "LBRT..." on 09:23:39 03/22/00 Wed

> rel=nofollow target=_blank > HREF="http://www.zdii.com/industry_list.asp?mode=news&d
> oc_id=ZE503532">Liberate Technologies

> rel=nofollow target=_blank > HREF-"http://cbs.marketwatch.com/archive/20000321/news/
> current/lbrt.htx?source=blq/yhoo&dist=yhoo">LBRT &
> AOL

> Any opinions?

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.

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.

"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.

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