Strong 3Q for SeaChange11/24/2004 3:09 AM Eastern
SeaChange International Inc. reported that net income more than tripled in its third quarter ending Oct. 31, rising from $1.5 million last year to $5.5 million.
Revenue rose 12% over the period, from $38.2 million to $42.6 million.
SeaChange executives said there was some seasonality with the quarterly numbers, but president Bill Styslinger said the vendor is still on track to grow total revenues by 14% and earnings by 160% for the full fiscal year, ending Jan. 31.
Styslinger said SeaChange added 193,000 streams in the quarter, and it has installed 1.3 million streams to date. International revenue grew 23% in the quarter.