March 13, 2009
SeaChange Revenue, Profits Up
Acton digital video company SeaChange International saw its revenues and profits rise over the past year.
For the year ended Jan. 31, 2009, the company saw record revenues of $202 million, up 12 percent from the previous year. Net income for the year more than tripled, from $2.9 million to $10 million.
The company said its success over the year came partly from multi-year deals with its largest customers.
For the fourth quarter, SeaChange's total revenues were $54 million, 13 percent higher than the previous year. Net income dropped from $12 million to $4.8 million, but the company said the high number for the fourth quarter of FY 2008 included a $10 million gain from the company's sale of its interest in FilmFlex Movies Limited.
WBJ Web Partners
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