SeaChange Lowers Net Loss

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An improved revenue picture helped SeaChange International Inc. to lower its net loss in its third quarter ending Oct. 31.

The company reported a net loss of $2.1 million on revenue of $35.3 million in the quarter, compared with a net loss of $5.5 million on revenue of $42.6 million in the third quarter of 2004.

While revenue was lower year over year, this quarter’s $35.3 million was a 35% improvement sequentially from second-quarter 2005’s $26.2 million.

The company said video-on-demand revenue hit $11.7 million, including $3.1 million in software revenues from licensing middleware from the international Liberate Technologies assets it acquired in acquired in July. Advertising chipped in $6.1 million and broadcast-system revenues were $4 million.

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