SeaChange Profits, Revenues Rise
Acton video software company SeaChange International Inc. had a profit of $10.9 million in the fourth quarter of fiscal 2011, up from $44,000 for the same quarter of the previous year.
Quarterly revenues grew to $33.3 million, from $27 million in Q4 2010.
SeaChange said its results for the quarter were boosted by two one-time events. It gained $4.6 million from the sale of its equity in InSite One Inc., a health care industry storage service provider that was purchased by Dell. It also recorded another $4.6 million in service revenue due to payment for deferred services by a customer that is switching to a different video-on-demand solution.
For the full year, revenues grew to $217 million from $202 million in fiscal 2010, while profits grew to $29.5 million from $1.3 million.
For FY12, Seachange is predicting revenue in the range of $220 million to $230 million. First quarter revenue guidance is between $50 million and $52 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments