SeaChange International, provider of software and hardware solutions for VOD television, has announced financial results for its fiscal 2010 first quarter ended April 30th, 2009. Total revenues for the quarter were $48.9 million, which was $3.5 million or 8per cent higher than total revenues of $45.4 million for the first quarter of fiscal 2009. Net income for the first quarter was $1.0 million, or $0.03 per share, compared with $0.3 million, or $0.01 per share, for the same period last year.
"We are pleased with our financial performance in the first quarter which marked our seventh consecutive quarter of profitability for the Company," noted Bill Styslinger, Chairman and CEO of SeaChange International. "We cemented our strong competitive position with our largest and growing telecommunications customer on the heels of signing a multi-year VOD and Advertising purchase agreement early in the first quarter, which produced substantial VOD server and software order strength throughout."