Q4 Improvements Not Enough To Boost SeaChange
Acton-based SeaChange International, which makes multi-screen video software, grew its revenue and generated a profit in the fourth quarter, but saw a decline for its full fiscal year, it reported.
For the quarter, revenue was $44.6 million, up 3 percent from the fourth quarter of fiscal 2012. Profits were $7 million, up from a loss of $4.8 million a year ago.
But for the year, SeaChange lost $17.3 million on revenue of $157.2 million. That compared to a loss of $4 million on revenue of $164.8 million last year.
The full-year results were impacted by a $14.1-million charge related to discontinued operations. The company divested itself of its broadcast servers and storage and media service businesses during its first quarter of the recently completed year.
SeaChange expects revenue in the first quarter of fiscal 2014 to be in the range of $34 million to $36 million.
Read more
WBJ Web Partners
Most Recent
Most Recent
0 Comments