Technology

Liberate, GoldPocket Team Up

4/14/2004 9:58 AM Eastern

Liberate Technologies and GoldPocket Interactive are in integration mode.

The vendors announced Wednesday that they have combined GoldPocket's advanced media technology with Liberate's Java- and XML-powered “TV Navigator 5.2” digital-cable software.

With Liberate's TV Navigator, GoldPocket applications and content can now run unchanged on existing set-top boxes from Motorola Broadband Communications Sector, Scientific Atlanta Inc. and other leading consumer-electronics manufacturers, as well as on future OpenCable Application Platform-compliant devices.

In other Liberate news, the company said Wednesday that it posted $1.7 million in revenue for its fiscal third quarter ended Feb. 29 versus $5.3 million for the year-ago period.

The digital-cable-software provider said its net loss for the quarter was $7.5 million, or $0.07 per share, versus $26.1 million ($0.25) in the prior-year quarter.

Liberate said in a prepared statement that it is “considering filing under Chapter 11 of the U.S. Bankruptcy Code to further strengthen its financial position and significantly reduce its cost structure, and emerge as a stronger company to deliver products and services to its customers.”

"We will continue efforts, as part of our restructuring plan, to resolve our outstanding liabilities,” chairman and CEO David Lockwood said in a prepared statement. “However, if we cannot reach an appropriate resolution in the coming weeks, we believe it may well be in the best interests of our shareholders, employees and customers to proceed with a Chapter 11 filing."

September