Media Services revenues stood out for Seachange International in a quarter when overall income and profit dipped. The shift towards content delivery saw the segment grow by 56% in the third quarter of the 2011 financial year to $8.1 million (€6.11 million). The increase was helped along by new business from SFR Neuf in France, Dubai’s du and increased processing fees from OTE in Greece.
Despite the growth in Media Services, total GAAP revenues slipped by $4.2 million to $49.1 million. The villain was largely the declining Servers and Storage market, where revenues were halved at $6.2 million.
SeaChange CEO & Chairman Bill Styslinger said the company continued to build its software portfolio and had reduced costs in its hardware business.