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.