SeaChange posts 17% revenue growth for fiscal Q109
May 30, 2008 - SeaChange International, a US provider of hardware and software solutions for video on demand, has reported revenues of US$ 45.3mn for its fiscal 2009 first quarter ended April 30 of this year, representing a 17% growth over the same period of fiscal 2008.
Net profits for the period reached US$ 0.3mn, compared to a net loss of US$ 4.6mn for its fiscal 2008 first quarter. Breaking quarterly results down by segment, total revenues from its Software segment reached US$ 30.1mn, up 16% year-on-year, driven by increased revenue from the supply of its Axiom product to service providers in North America and higher video on demand software revenue for hospitality customers. The company's Severs and Storage segment generated US$ 11.3mn in revenue for the first quarter of its fiscal 2009, up 31% year-on-year, while revenue from Media Services fell 8% by the same comparison to reach US$ 4mn.
Commenting on guidance for the remainder of fiscal 2009, company President and CEO Bill Styslinger said: “We expect that fiscal 2009 revenue will be approximately 10% higher than fiscal 2008 and that we will be profitable for the second quarter and full year for fiscal 2009. Our confidence stems from expected continued strong spending throughout fiscal 2009 by North America-based cable television companies, as well as cost containment relative to selling, general and administrative expenses.”
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