SeaChange increases media and software revenues

Video-on-demand specialist SeaChange reported fourth quarter revenues of US$53m (€38.6m), down US$1m year-on-year. Full year revenues to the end of January 2010 were relatively unchanged at US$201.7m.

The media services segment reported revenues of $5.8m for the fourth quarter, up 38% year-on-year, primarily due to increased VOD content processing fees from customers in Greece and Turkey, combined with recent contract awards from customers in France and Dubai.

Revenues from the software segment in the fourth quarter were US$34.9m, up US$2.9m year-on-year due to increased VOD software subscription revenues from Comcast and Cox in the US and the inclusion of revenue in this year’s fourth quarter from the recently acquired eventIS. However, SeaChange saw lower advertising and broadcast software revenue due to the impact of the difficult advertising market.

The servers and storage segment generated revenue of US$12.3m in the fourth quarter, down $5.4m. The drop was due to lower VOD server shipments to smaller North American cable television customers.

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