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SeaChange revenues dip in Q4

Thu, 03/06/2003 - 7:00pm
Jeff Baumgartner

SeaChange International said revenues in the fiscal fourth quarter dipped slightly to $32.9 million from $33.4 million in the year-ago period. SeaChange also recorded a quarterly net loss of $918,000 (3 cents per share) for the period, versus a profit of $2.1 million (9 cents per share).

For the year ended Jan. 31, 2003, the company recorded revenues of $133.8 million, up 16 percent year-over-year, but posted a net loss of $23.9 million (90 cents per share), compared to a profit of $381,000 (2 cents per share) in the previous fiscal year.

Despite the overall drop in the quarter, SeaChange's video-on-demand division posted record revenues of $16.3 million in the period, up 58 percent from $10.3 million a year ago. SeaChange also ended the year with 445,000 VOD streams shipped after delivering a record 82,000 in the fourth quarter.

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