SeaChange increases product revenue

December 6, 2013 11.44 Europe/London By Julian Clover

SeaChange has increased new product revenue by 45% as its Adrenalin multiscreen platform gains ground.

For the first nine months of fiscal 2014, SeaChange posted revenues of $110.7 million and non-GAAP operating income of $7.5 million. This compares to revenues of $112.6 million and non-GAAP operating income of $6.4 million in the corresponding period.

GAAP operating losses narrowed slightly to $0.8 million, compared to $10.3 million a year ago.

“We continue to execute on our plan to deliver our new generation of products globally, which have grown 62 percent year over year to represent 45 percent of all product revenues, compared to 25 percent a year ago,” said Raghu Rau, CEO, SeaChange. “We are also pleased to announce the commercial launch of our Adrenalin multi-screen platform by a large European telco and a Scandinavian cable operator during the quarter. Our Infusion advanced advertising platform, integrated with Adrenalin, was launched by a large European service provider last week.”

The company is anticipated 4th quarter revenues of between $40 million to $45 million.