SeaChange revenue growth continues

Video-on-demand specialist SeaChange reported revenues of US$54.1m (€43.8m) for the first quarter ending April 30, up 11% year-on-year.

Media services segment revenues were a record $6.4m, which is 51% higher than the first quarter of last year.  New content services contracts from customers in France and Dubai combined with increased content processing revenues from customers in Greece and Turkey contributed to the strong increase in media services revenue, SeaChange said. 

The company’s software segment saw a 34% rise in revenues to US$40.9m thanks to higher Axiom and VOD Advertising product revenue from a North American cable operator, increased advertising insertion revenue and the impact of the eventIS and VividLogic acquisitions.
The servers and storage segment generated US$6.8m of revenue, which was $7.3m lower than for the first quarter of fiscal 2010.  SeaChange said this was down to lower shipments of VOD servers to North American service providers.