CSFB Boosts Liberate Technology Estimates

Analyst Todd Raker says the applications software company's quarterly results beat his expectations

CS First Boston raised estimates on Liberate Technology (LBRT ).

Analyst Todd Raker says third quarter results beat estimates, driven by 17% sequential platform software deployment growth. Due to third quarter outperformance, Raker raised his fourth quarter estimate to a $0.05 loss on $25.5 million in revenue. He says he now sees $0.03 for fiscal 2003 (May) earnings per share vs. the former $0.25 loss estimate. While the company will not give guidance for fiscal 2003 until next quarter's call, he thinks Liberate will break even on $30.4 million in revenue in the second quarter of fiscal 2003.

Raker continues to believe the company is extremely well positioned, with only two serious competitors today: Microsoft and OpenTV. He maintains his buy rating.

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