Acton video streaming company SeaChange drastically narrowed its net loss in the second quarter compared to a year ago after cutting expenses.
SeaChange reported a net loss of $1.5 million on Wednesday, compared to a $26.9-million loss in the same quarter in 2016.
Revenue dipped nearly 7 percent, from $18.5 million to $17.2 million. Year-to-date revenue is down 25 percent to $33.9 million. For the full year, SeaChange said Wednesday it expects revenue in the range of $75 million to $80 million, down from last year’s total of $83.8 million, and for continued losses of $0.28 to $0.23 per basic share.
Cost reductions at the company have included laying off about 200 workers, which it has said will bring about $30 million in savings.
