07.33 Europe/London, September 8, 2011 By Julian Clover
Revenue delays with two major customers put a damper on SeaChange in the second quarter, which saw a $1.5 million fall in revenues.
The company, which is involved in multiscreen deployments for Kabel Deutschland and Charter, reported total revenues of $51.6 million. Six-month revenues of $102.2 million were $4 million lower than the 2012 figure.
The Server and Storage segment saw a $5.3 million decrease in revenues to $7.7 million, largely due to lower VOD server shipments to North American and European customers.
However, Media Services increased by $0.7 million to $7.8 million from higher VOD content aggregation revenues from customers in France and Eastern Europe that were partially offset by lower revenues from a customer in Greece, taken to be OTE.
“SeaChange continues to bring major new customers on board and serve its longstanding customers with an increasingly diversified, new generation of software,” said Bill Styslinger, CEO and Chairman, SeaChange International. “We were prepared well in advance to be one of the first software and services providers to lead the multi-screen video opportunity, as we had done in VOD and advertising, and we’ll continue to show how this software solution is progressing from quarter to quarter. We also anticipate growth in our traditional offerings such as advertising, where telcos and multi-screen providers are looking to SeaChange to help monetize video to every screen.”
Styslinger expressed disappointment in delays in recognizing some revenues, but said the company’s software portfolio was on-track, and would ensure the company’s resilience despite the uncertain global economy.