December 3, 2009
SeaChange Q3 Profit Declines As Revenue Grows
By Matthew L. Brown
SeaChange International Inc. of Acton said it turned a $657,000 profit in the third quarter on $53.3 million in revenue.
In the same period last year, the software and hardware firm made a $3.4 million profit on $51.8 million in revenue.
The company used $36.6 million in cash to acquire eventIS Group B.V., and finished the quarter with $53.4 million in cash and equivalents compared to $93.5 million a year ago. The company carries no debt.
For the first nine months of the year, the company reported a $1.3 million profit on $148.7 million in revenue. It expects 2010 earnings to be flat with this year's.
SeaChange makes software and hardware for video-on-demand television.
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