SeaChange International Inc. reported both higher revenue and a higher net loss for its fiscal fourth quarter ending Jan. 31.
Revenue jumped 11%, from $30 million to $33.2 million, but the company’s net loss also rose, from $2.2 million to $2.9 million.
The revenue increase helped to take some of the sting out of SeaChange’s full-year numbers: $126.3 million in revenue, compared to $157.3 million in the prior fiscal year. Net loss also crept up year-over-year from $9.9 million to $12.1 million.
CEO Bill Styslinger predicted further revenue growth driven by the need for an increase in streams and storage, coupled with operator interest in HD video-on-demand.