SeaChange Swings To Profit In Q3
Acton-based video software maker SeaChange International Inc. reported a $408,000 profit on $53.3 million in revenues for the quarter ending Oct. 31.
Revenues were up 8.6 percent from the same quarter a year ago, when the company lost $2.8 million.
SeaChange's software segment led the quarterly gains with $37.6 million in revenues, up 13 percent from a year ago.
For the nine months ended Oct. 30, the company's revenues are up slightly, but its profits are down to $811,000 from $25.2 million.
The company ended the quarter with $88.9 million in cash and investments and no debt compared to $97.9 million and no debt at the end of the second quarter of this year.
The company recently announced the retirement of its founder and CEO, Bill Styslinger, and also that it was no longer pursuing a sale.
WBJ Web Partners
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