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SeaChange reports higher VOD revenue

Tue, 11/26/2002 - 7:00pm
Jeff Baumgartner

Coupled with the shipment of 67,000 video-on-demand streams, SeaChange International Inc. said it recorded $15.3 million in VOD system revenues during its third fiscal quarter, up 50 percent from $25.2 million in the year-ago period. The company posted aggregate revenue of $33.9 million, up 34 percent, versus $25.2 million in the comparable quarter in 2001.

That wasn't enough, though, to avoid a net loss of $541,000, or 2 cents per share, narrowed from a net loss of $1.2 million, or 5 cents per share, a year ago.

Looking ahead, SeaChange said it expects to generate revenue of between $30 million to $32 million in the quarter ending Jan. 31, 2003. Broken down by segment for the upcoming quarter, SeaChange forecasted $10 million to $12 million in VOD systems revenue, $6 million to $7 million in ad systems revenue, $5 million to $7 million in broadcast systems revenue and $7 million to $8 million in service revenues. During that period, SeaChange has forecasted a net loss of 3 cents per share.

SeaChange's 67,000 VOD streams shipped during the quarter gives the company a total of 363,000 streams shipped. SeaChange said it had 75 total VOD deployments as of Oct. 31.

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