June 9, 2011
Seachange Swings To Loss
By Brandon Butler
Profits for Acton-based video software company Seachange International plunged in the first quarter of the year to a $384,000 loss, after making a more than $20 million profit during the same period last year.
First-quarter results in 2010 were helped by revenues from the sale of Seachange's share in Casa Systems.
This year, that gain was erased. Reveneus fell from $54.6 million to $52.1 million this year.
There have been rumors floating recently that Seachange could be sold. The company said last month that it is reviewing strategic plans.
The company was expected to hold an earnings conference call at 5 p.m. today to discuss the results.
WBJ Web Partners
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