SeaChange Heads Lower in 4Q3/08/2005 9:24 AM Eastern
A 23% drop in fourth-quarter revenue, from $38.9 million to $30 million, caused SeaChange International Inc. to post a $2.2 million net loss in the quarter ending Jan. 31, versus net income of $2.6 million in the year-earlier period.
But better numbers in the first three quarters of the year allowed the company to post year-over-year increases in revenue ($157.3 million versus $148.2 million) and net income ($9.9 million versus $5.6 million).
SeaChange’s video-on-demand revenues hit $12.7 million in the fourth quarter. The company said most of its VOD growth in the past year has come from international cable and telcos.