SeaChange International’s fiscal second-quarter earnings have fallen as results faced a difficult comparison to a prior-year period boosted by a $3.3 million income tax benefit.
For the quarter ended July 31, SeaChange reported a profit of $787,000, down from a prior-year profit of $3.53 million. Revenue slipped 3 per cent to $50.1 million. Revenue from software, the company’s largest top-line contributor, improved 9.7 per cent but server and storage revenue tumbled 40 per cent, a decrease the company attributed to lower video-on-demand server shipments to North American and European customers.
For the current quarter, SeaChange predicted revenue of $51 million to $57 million.