SeaChange International, an Acton video streaming company, saw revenues rise by 17 percent in the third quarter and the company nearly broke even after sustained losses.
Revenue rose to $23.4 million, while the net loss was $220,000, SeaChange announced in an earnings report Wednesday.
The third-quarter results are a marked improvement over the prior quarter, when SeaChange lost $1.5 million. Year-to-year results were also better, as the company lost $8.8 million in the third quarter of 2016.
Year-to-date, SeaChange revenue is down 4 percent.
The company has struggled in recent years, laying off about 200 employees earlier this year for an estimated $30 million in savings.
SeaChange said it expects fourth-quarter revenue in the same general range as the third quarter, from $20 million to $24 million. For the full fiscal year, SeaChange said Wednesday it has improved its outlook to expect $77 million to $81 million in revenue.
Editor’s note: This story has been corrected to reflect a 17-percent rise in SeaChange’s revenue.
