May 30, 2008
Seachange Makes A Profit, Raises Revenues
By Eileen Kennedy
Seachange International Inc. of Acton reported higher revenues and posted a small profit during the first quarter of the company's fiscal 2009.
The maker of software and hardware for video-on-demand television reported total revenues of $45.3 million, a 17 percent increase over the same time last year.
It also posted net income of $300,000 in the first quarter,compared with a net loss of $4.6 million for the same time last year.
The company also spent $2 million in the first quarter on repurchasing 283,000 shares of its own stock.
Its guidance for the rest of the year included continued profitablity and revenue that should be 10 percent higher than last year.
WBJ Web Partners
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