OT SEAC ER
Reuters
SeaChange 3rd-qtr loss narrows, warns on 4th-qtr
Tuesday November 26, 4:35 pm ET
MAYNARD, Mass., Nov 26 (Reuters) - SeaChange International Inc. (NasdaqNM:SEAC - News), a digital video company, said on Tuesday its third-quarter loss has narrowed on higher sales spurred by strong vedio-on-demand business, but said its fourth-quarter earnings will fall short of Wall Street expectation.
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Net loss was $541,000, or 2 cents per share, compared to a net loss of $1.2 million, or 5 cents per share, the year before.
The Company expects a net loss of 3 cents a share in the fourth quarter and revenue to be $30 million to $32 million.
Analysts polled by Thomson First Call on average expect the company to lose 2 cents in the third quarter, and become breakeven in the fourth quarter.
Third-quarter revenues were $33.9 million, up 34 percent from $25.2 million for the comparable period last year. Video-on-demand system revenues were $15.3 million, up 50 percent from $10.2 million last year. |
