Video software provider SeaChange posted a second quarter net loss of US$5.3 million (€4.2 million), compared with a US$787,000 profit a year earlier.
The company, which divested its Broadcast Servers and Storage, and Media Services businesses earlier this year, reported revenues of US$13.5 million, down from US$15 million.
“Throughout SeaChange’s second quarter we have executed on our strategy. We continue to reduce our overall sales, general and administrative costs and manufacturing costs and further streamline our organisation. We have recently announced design wins for our next generation Adrenalin video back office platform with two major U.S. cable multiple system operators, and our Infusion advanced advertising platform with large service providers in both North America and Europe,” said Raghu Rau, SeaChange CEO. “Our focus over the next two quarters will be to deliver on commitments to our customers, increase revenue, improve the bottom line and drive shareholder value.”
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19 October 2020 @ 12:30:00 UTC