SeaChange posts results

Interactive TV technology provider SeaChange International has posted revenues of US$39.2 million (€30 million) for the third quarter, down from US$42.9 million last year but at the high end of its guidance for the current year. Operating income was US$2.9 million, down from US$5.5 million.

The results included non-recurring charges which consisted primarily of severance and restructuring charges while the third quarter fiscal 2012 results had non-recurring charges related to professional fees associated with strategic alternatives and earn-out costs from acquisitions.

“I’m very pleased with our third quarter results, which came in at the high end of our revenue guidance and significantly exceeded our non-GAAP operating income guidance,” said Raghu Rau, CEO. “The outperformance was driven by increased revenue from new products and continued execution on our cost reduction efforts.”