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March 16, 2009

SeaChange revenue up 13% in Q4

Reported a net income of $4.8m compared to $12m for the fourth quarter of fiscal 2008

By CBR Staff Writer

SeaChange International, a provider of software and hardware solutions for video-on-demand television, has reported a net income of $4.8m, or $0.15 per diluted share, for the fourth quarter ended January 31, 2009, compared to $12m, or $0.41 per diluted share, for the same quarter of fiscal 2008.

SeaChange International has reported total revenues of $54m for the fourth quarter ended January 31, 2009, a 13% increase compared to $47.8m for the fourth quarter of fiscal 2008.

The company has reported a net income of $10m, or $0.32 per share, for fiscal 2009, compared to $2.9m, or $0.10 per share, for fiscal 2008. SeaChange International has reported total revenues of $201.8m, a 12% increase compared to $179.9m for fiscal 2008.

Bill Styslinger, president and CEO of SeaChange International, said: Our fourth quarter financial performance capped a very successful year for SeaChange. For fiscal 2009, we generated record revenue of $202m, record gross margins of 51%, four quarters of increasing profitability and increased cash flow during the year excluding cash used for stock repurchases, an acquisition and a facility purchase.

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