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OpenTV slips past 3Q estimates

OpenTV posted a smaller-than-expected loss in its third quarter Thursday, losing $3.2 million, or 6 cents a share, on sales of $18.7 million.

First Call Corp. consensus expected the interactive television firm to lose 7 cents a share in the quarter.

OpenTV (Nasdaq: OPTV) shares finished up 38 cents to $25.25 ahead of the earnings report.

The $18.7 million in sales represents a 237 percent improvement from the year-ago quarter when it lost $3.1 million, or 8 cents a share, on sales of $5.5 million.

Company officials are predicting fourth-quarter sales of between $21 million to $22 million and a loss of between 4 cents to 6 cents a share.

First Call Corp. consensus was expecting a loss of 4 cents a share in the quarter.

Including a variety of charges, OpenTV lost $83.4 million, or $1.49 a share in the quarter.

On Thursday, Prudential Securities started the stock with a "strong buy" recommendation.

OpenTV shares moved up to a 52-week high of $245.75 in March before falling to a low of $20.50 earlier this month.

All five analysts tracking the stock rate it either a "buy" or "strong buy."