SeaChange International Inc. posted a 23 percent jump in quarterly
revenue, notching sales of $33.3 million in the three-month period ending July
31 compared with $27 million last year.
Quarterly video-on-demand revenue jumped from $10.9 million to $15.1 million,
which represented the bulk of the company's overall revenue gain.
The vendor's net loss for the quarter came in at $635,000, which included
legal expenses and accrued interest charges related to the May 2002 nCUBE jury
verdict. That compares to a net loss of $684,000 in last year's comparable
Looking ahead, SeaChange said it expects to hit the same $33 million in
quarterly revenue this quarter, with a net loss per share at 2 cents, the same
as the current quarter.
President Bill Styslinger said the vendor's VOD rollouts
now reach 11.5 million basic subscribers, with planned launches coming up from
AT&T Broadband, Insight Communications Co. Inc. -- a 10-market rollout where
it is replacing Diva Systems Corp. gear -- and one other MSO.