SeaChange Q3 sees increased revenues

SeaChange International, the global multi-screen video software specialist, has reported third quarter fiscal 2014 revenue of $37.8 million and operating income of $2.9 million from continuing operations.

For the first nine months of fiscal 2014, SeaChange posted revenues of $110.7 million and operating income of $7.5 million, compared to revenues of $112.6 million and operating income of $6.4 million in the same prior period.

“We continue to execute on our plan to deliver our new generation of products globally, which have grown 62 per cent year over year to represent 45 per cent of all product revenues, compared to 25 per cent a year ago,” said Raghu Rau, CEO, SeaChange. “We are also pleased to announce the commercial launch of our Adrenalin multi-screen platform by a large European telco and a Scandinavian cable operator during the quarter. Our Infusion advanced advertising platform, integrated with Adrenalin, was launched by a large European service provider last week.”

SeaChange ended the third quarter of fiscal 2014 with cash, cash equivalents and marketable securities of $126.4 million.

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