March 14, 2008
FilmFlex Sale Boosts SeaChange Profits
SeaChange International of Acton netted $14.6 million in profits in the last quarter of fiscal year 2008 and $5.4 million for the year as a whole thanks largely the sale of its interest in a UK-based joint venture.
The company gained $12.6 million from the sale of its interest in FilmFlex Movies Ltd., which provides video-on-demand service to Virgin Media.
The fourth quarter, ended Jan. 31, was the company's second consecutive profitable quarter. The company lost $3.7 million in the fourth quarter of 2007 and lost $8.2 million for the full year.
SeaChange sells software and services for video on demand, digital advertising and content management.
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