SeaChange Q3 Revenue up 9%

12 Dec

SCRI's NewsBriefs

Follow Broadcast Pro Video Breaking News on Twitter

  • Share
  • Share

SeaChange International, Inc. (NASDAQ: SEAC), a leading global multi-screen video software company, announced financial results for its fiscal 2012 third quarter ended October 31, 2011. Total revenues for the quarter were $53.4 million, which were $4.2 million or 9% higher than total revenues of $49.1 million for the third quarter of fiscal 2011. Non-GAAP net income for this year’s third quarter was $4.1 million, or $0.13 per share, compared with non-GAAP net income of $1.5 million or $0.05 per share, for the same period last year. GAAP net income for the third quarter of fiscal 2012 was $0.4 million or $0.01 per share compared with a GAAP net loss of $5.2 million or $0.17 per share for the third quarter of fiscal 2011. Last year’s third quarter GAAP net loss included a $2.4 million restructuring charge.

Total revenues for the first nine months of fiscal 2012 ended October 31, 2011 were $155.5 million, which were $0.1 million higher than total revenues of $155.4 million for the first nine months of fiscal 2011. Non-GAAP net income for the first nine months of fiscal 2012 was $10.1 million, or $0.30 per share, compared with non-GAAP net income of $7.4 million, or $0.24 per share, for the same period last year. GAAP net income for the first nine months of this year was $0.8 million, or $0.02 per share, compared with GAAP net income of $18.6 million or $0.58 per share, for the first nine months of fiscal 2011. Last year’s nine month financial results included a $25.2 million pre-tax gain on the sale of the Company’s equity investment in Casa Systems, Inc.

The Servers and Storage segment generated $7.9 million in revenues for the third quarter of fiscal 2012 which were $0.1 million higher than revenues of $7.8 million for the third quarter of fiscal 2011. The increase in revenues was due principally to the absence this quarter of a warranty-related return of product from a customer that resulted in the reduction of previously recorded revenue in last year’s third quarter. This favorable revenue variance was largely offset by lower VOD server and Broadcast product shipments.

Comments are closed.