Big drop last week on low 2 qtr earnings report due to sluggish market cut backs in advertising by broadcast customers as well as a recent acquisition. But expected to rebound 2nd half of year to show profit.
SEAC - SharpCharts Workbench : StockCharts.com
"...PHILADELPHIA (AP) -- Shares of SeaChange International Inc. plunged on Wednesday after the video-on-demand provider posted second-quarter results well below expectations.
The company said broadcast customers cut back on spending due to a sluggish advertising market.
SeaChange on Tuesday recorded a loss of about $400,000, or a penny per share, compared with a year-ago profit of $1.5 million, or 5 cents per share. The latest quarter includes charges of 2 cents per share related to the company's acquisition of Dutch firm eventIS Group B.V.
Revenue slipped to $46.5 million from $50.7 million.
Analysts polled by Thomson Reuters expected profit of 6 cents per share on revenue of $49.5 million.
SeaChange said the eventIS acquisition will result in a 10 percent increase in revenue for the second half of the year compared with the first half. It also expects to be profitable in the second half."
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SeaChange International Inc.
50 Nagog Park
Acton, MA 01720
United States - Map
Phone: 978-897-0100
Fax: 978-897-0132
Web Site:
SeaChange International - The world leader in VOD, IPTV, Advanced Advertising, Broadcast and Next-Generation Applications
SeaChange International, Inc. develops, manufactures, and markets digital video systems worldwide. The company operates in three segments: Software, Servers and Storage, and Media Services. The Software segment develops, sells, and supports advertising, video on demand (VOD), middleware, and broadcast software. This segment also offers professional services, installation, training, project management, product maintenance, technical support, and software development services. The Servers and Storage segment develops VOD and broadcast servers. This segment also offers professional services, installation, training, project management, product maintenance, and technical support. The Media Services segment provides media content services, including video, television programming, and advertising content aggregation and distribution. This segment specializes in aggregating content for video on demand and pay-per-view platforms, and provides marketing, promotional, and production services to cable operators and telecommunications providers in Europe. SeaChange International serves cable system operators, telecommunications companies, and broadcast television companies. The company sells its products directly, as well as through independent agents and distributors. SeaChange International, Inc. was founded in 1993 and is headquartered in Acton, Massachusetts.
SEAC - SeaChange International, Inc (NASDAQ Stock)
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