SeaChange, a supplier of digital video systems, posted total revenues of $42.3 million for its fiscal third quarter ended October 31, a 20% increase compared to total revenues of $35.3 million for the third quarter of fiscal 2006. Net loss for the third quarter was $1.0 million, or $0.04 per share, compared with a net loss of $2.1 million, or $0.07 per share for the same period last year.
Revenues from the company’s Broadband segment, which includes Video on Demand (VOD) and Advertising Insertion hardware and software, were $24.5 million, an increase of $6.4 million or 35% higher than comparable revenue in the third quarter of fiscal 2006. Year over year revenue growth in the Broadband segment for the third quarter was driven by a 74% increase in VOD system revenue, from $8.6 million in the third quarter of last year to $15.0 million in the third quarter of this year, as the company continued to see strong demand from North American cable customers as well as increased order activity from select EMEA (Europe, Middle East, Africa) accounts.
“It’s clear that we’re benefiting from the strength of the video on demand business in North America and a steady increase in VOD adoption in other parts of the world, translating into another quarter of sequential VOD revenue growth,” said Bill Styslinger, president and CEO.
http://www.schange.com/
