September 2, 2009
Acquisition Puts SeaChange At A Loss
By Matthew L. Brown
Acton-based communications software and hardware firm SeaChange International Inc. reported a net loss of $400,000 on revenue of $46.5 million for the second quarter.
For the same period a year ago, the company reported a $1.5 million profit on revenue of $50.7 million.
The net loss included $500,000 in costs related to SeaChange's acquisition of eventIS Group BV of the Netherlands, which was announced Tuesday.
By the end of the quarter, the company had $93.5 million in cash and equivalents and no debt. It ended the prior quarter debt free and with $91 million in cash and equivalents.
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