SeaChange For The Worse
SeaChange International of Acton swung to a net loss of $5.2 million for the third quarter of its 2011 fiscal year, compared with a profit of $700,000 for the same quarter last year.
The video storage company's quarterly revenues fell to $49.1 million, from $53.3 million. Its Servers & Storage segment generated just $6.2 million during the quarter, half of its Q3 2001 revenue, as it moves resources away from that area and toward software.
The company attributed that reduction, as well as a smaller downturn in the Software segment, largely to lower sales of video on demand products in North America.
Revenue from SeaChange's Media Services segment rose from $5.2 million to $8.1 million, which the company said was a result of new business in France, Dubai and Greece.
WBJ Web Partners
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