Liberate to Cut up to 45 Jobs, Affirms Guidance

Liberate Technologies

(LBRT) - Get Report

reaffirmed its third-quarter guidance, but the interactive television software company said it would cut jobs in the research and development area.

The company expects a pro forma loss of 6 cents to 7 cents a share, excluding charges, on sales of $22.5 million to $23 million. Analysts are expecting a loss of 7 cents a share, according to Thomson Financial/First Call.

Liberate also forecast a full-year pro forma loss of 27 cents to 28 cents a share on sales of $85 million to $86 million.

The company plans to cut 25 to 45 jobs, close two research and development facilities and take a $3.9 million charge to cover the cuts.

Shares of Liberate Technologies closed at $7.57 Tuesday on the

Nasdaq

.