SAN FRANCISCO (Thomson Financial) - SeaChange International Inc. late
Thursday reported it swung to a third-quarter net profit of $3.31 million, or 11
cents a share, from a restated net loss of $1.15 million, or 4 cents a share,
during the year earlier.
Adjusted earnings before interest, taxes, depreciation, amortization and
stock-based compensation expense were $6.5 million versus $2.3 million last
year.
The Acton, Mass.-based provider of software and hardware for video-on-demand
television posted revenue for the three months ended Oct. 31 of $49 million, up
from $42.3 million a year ago.
The mean estimate of analysts polled by Thomson Financial was for a
per-share loss of 2 cents on revenue of $45.2 million.
Additionally, SeaChange said it expects to be profitable in the fourth
quarter, based on continued order strength in video-on-demand systems from North
American service providers, operating expense containment and continued benefits
from the second-quarter cost reduction initiatives.
Shares of SeaChange closed the regular session down 21 cents, or about 4%,
at $5.54.
Katherine Hunt
kh/gm
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|