Video technology provider SeaChange International has posted non-GAAP operating income of US$2.9 million (€2.1 million) for its fiscal third quarter, flat year-on-year, and revenues of US$37.8 million for the quarter, compared with US$39.2 million for the prior year.
SeaChange’s nine months revenues stood at US$110.7 million, with non-GAAP operating income of US$7.5 million, compared to revenues of US$112.6 million and non-GAAP operating income of US$6.4 million in the same prior period.
“We continue to execute on our plan to deliver our new generation of products globally, which have grown 62% year over year to represent 45% of all product revenues, compared to 25% a year ago,” said Raghu Rau, CEO of SeaChange. “We are also pleased to announce the commercial launch of our Adrenalin multi-screen platform by a large European telco and a Scandinavian cable operator during the quarter. Our Infusion advanced advertising platform, integrated with Adrenalin, was launched by a large European service provider last week.”
Rau said that SeaChange was experiencing “some delays” in the finalisation of product agreements due to the “expanded scope and the complex nature of the customer decision making process, which involves the customer selecting multiple vendors”.