Liberate, Cox Ink Deal

Author:
Updated:
Original:

Liberate Technologies said Monday that it has reached a subscription-based licensing agreement with Cox Communications Inc.

Under terms of the deal, Liberate will supply Cox with software to enable the delivery of multiple applications -- such as digital-video recorders, HDTV and video-on-demand -- across multiple platforms, including those manufactured by Motorola Inc. and Scientific-Atlanta Inc.

In other Liberate news, the vendor said Monday that revenues for its fiscal second quarter ended Nov. 30 were $1.2 million, compared with $6 million in the prior-year period.

The digital-cable-software vendor’s second-quarter net loss was $8.5 million, or 8 cents per share, versus $31.6 million (30 cents) in the year-earlier quarter. However, the recent-quarter figures included a $9 million (9 cents per share) gain from the November sale of the company’s operational-systems-support division.

Liberate also announced that in connection with the restructuring of its business and change in strategic focus, it had implemented a restricted-stock-unit program for employees in lieu of stock options.

Related