Liberate to Cut up to 45 Jobs, Affirms Guidance
Liberate Technologies
(LBRT) - Get Liberty Energy Inc. Class A 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.
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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
.
