VOD Boosts SeaChange in 2Q

8/24/2004 4:03 PM Eastern

SeaChange International Inc. recorded an 18% increase in second-quarter revenue for its fiscal period ending July 31, from $36.3 million last year to $43 million in the most recent quarter.

That helped to boost net income from $942,000 last year to $3.3 million in the second quarter.

Video-on-demand led the charge, with revenue climbing from $17.6 million to $25.2 million, a jump of 43%. SeaChange said earnings before interest, taxes, debt and amortization reached $7.2 million in the quarter compared with $3.9 million last year.

“This quarter, SeaChange again achieved a new company record for revenues and earnings," CEO Bill Styslinger said in a prepared statement. "We shipped 178,000 video streams to our customers this quarter, and we have shipped a total of over 1.2 million streams."

SeaChange also announced that it was providing VOD servers for Comcast Corp. in its Chicago market.

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