VOD Revenue Pushes SeaChange Higher

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SeaChange International Inc. generated net income of $3.2 million on revenue of $41.6 million in the company's first fiscal quarter for 2005 -- a new quarterly revenue record, the company said.

Revenue rose 20% over the year-earlier period's $34.8 million, while net income was $562,000. EBITDA (earnings before interest, taxes, debt and amortization) for the quarter was $6.7 million compared with $3 million in the year-earlier period.

Video-on-demand-division revenue was up 41%, from $17.8 million to $25.2 million.

The company said it shipped 179,000 video streams in the quarter, surpassing the 1 million mark. SeaChange added that its VOD servers handle 26.7 million basic subscribers.

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