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September 6, 2010

SeaChange Q2 revenue up 11% to $51.6m

Expects non-GAAP Q3 revenue between $50m and $53m

By CBR Staff Writer

SeaChange International has reported total revenue of $51.6m for the second quarter of 2011, an increase of 11% as compared to $46.5m of the same quarter prior year.

The company’s operating income was $0.23m for the second quarter of 2011, as compared to an operating loss of $0.49m for the same period last year.

For the quarter ended 31 July 2010, SeaChange posted a net income of $3.5m, or $0.11 per share, compared to net loss of $0.37m, or $0.01 loss per share, for Q2 FY10.

SeaChange chairman and CEO Bill Styslinger said that the company has signed two long term master purchase agreements, the first being the largest in the history of SeaChange, while the other being an advertising deal with a major US telco.

The company expects fiscal third quarter non-GAAP revenue in the range of $50m to $53m and non-GAAP EPS of $0.07 to $0.10 per share, excluding any potential restructuring expense.

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