SeaChange sees revenues and income down

Video software provider SeaChange International posted revenues of US$36.6 million (€29.3 million) for the first quarter, down from US$40.2 million last year, and operating income of US$1.8 million, down from US$2 million.

The figures did not include discontinued operations, including its broadcast servers and storage and media service businesses, which were sold in May.

“During the first quarter, we took significant steps to transform SeaChange to become a pure-play software company through the sale of our former broadcast servers and storage business and our media service business units, which ultimately closed in May 2012, so that now we can focus our attention squarely on our software business,” said SeaChange CEO Raghu Rau. “We continue to invest significant resources in developing and launching our next generation software products towards the latter half of this fiscal year. We are also continuing to reduce our overall cost structure and streamline our operations.”

Rau said the company expected full year income to be between US$150-160 million and operating income to be between US$17-20 million.