SeaChange's 2Q beats Wall Street views by 2c
The Associated PressSeaChange International Inc. reported fiscal 2009 second-quarter results that beat Wall Street's estimates late Thursday.
The Acton, Mass., company which makes software and hardware for video-on-demand television services, posted earnings of $1.5 million, or 5 cents per share, for the three months ended July 31.
That compares with a loss of $7.9 million, or 27 cents per share, a year earlier. The year-ago numbers include a charges of $6 million, or 20 cents per share.
SeaChange's revenue totaled $50.7 million for the latest quarter, up from $44.2 million a year earlier.
Wall Street on average had expected the company to report earnings of 3 cents a share on $47.6 million in revenue for the latest quarter.
Looking ahead, SeaChange said it expects to be profitable in the second half of the year and predicts its full-year fiscal 2009 revenue will be about 10 percent above fiscal 2008 levels.
SeaChange's shares fell 47 cents, or 5.4 percent, to $8.32 Thursday.