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SeaChange reaps a profit

US firm SeaChange International, a provider of TV technology and software, has turned its fortunes around thanks to the transformation strategy it announced last year, posting an operating profit of US$ 5.4mn for the three months to January 2013, compared to a loss of US$ 2.4mn for the same period of the previous year.

The company also saw a 14% quarter-on-quarter increase in revenues for the fourth quarter of its fiscal 2013 to reach US$ 44.6mn, thanks to sales of new products and increased product licensing revenues.

CEO Raghu Rau predicts that revenues in the second half of this year will be “significantly higher” than in the first half, following a similar pattern to that of previous years, and that full-year fiscal 2014 revenues will be in the range of US$ 165mn to US$ 175mn.

SeaChange divested much of its non-core businesses last year, selling both its broadcast servers and storage and media service businesses last May as part of efforts to reposition itself as a pure-play software and services provider (more details here and here).

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