SeaChange Posts Quarterly Net Loss

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SeaChange International Inc. posted a narrow quarterly net loss of $918,000
for the period ending Jan. 31 compared with net income of $2.1 million in the
year-earlier period despite solid video-on-demand results.

The vendor also confirmed that it is shipping VOD servers to Comcast Corp. for a rollout in Boston.

Quarter-over-quarter company revenue dropped slightly from $33.4 million to
$32.29 million despite a jump in revenue in the VOD unit from $10.3 million to
$16.3 million, indicating softness in SeaChange's broadcast business
segment.

President and CEO Bill Styslinger said the company shipped 82,000 residential
VOD streams. The company counts 83 VOD deployments across seven MSOs and 16.5
million basic subscribers.

For the year ended Jan. 31, revenue reached $133.8 million, a 16 percent
increase over 2002's $115.8 million. The vendor's yearly net loss reached $23.9
million compared with net income of $381,000 in the prior year.

SeaChange expects a slight rise in first-quarter revenue to $34 million, and
to be profitable this year, Styslinger said.

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