Liberate Revenues, Net Loss Down

Author:
Publish date:

Liberate Technologies Monday reported $1.5 million in revenue for its fiscal first quarter ended Aug. 31, compared with $9 million in the same quarter last year.

The digital-cable-software provider’s net loss for the quarter was $12.6 million (12 cents per share), versus $249.3 million ($2.35) in the year-earlier period.

"To achieve our restructuring goal, we are progressing in talks regarding the sale of our OSS [operational-systems-support] division in order to reduce headcount to approximately 150 employees by December," chairman and CEO David Lockwood said in a release.

Related