SeaChange has posted a first quarter loss on continuing operations of $286,000 as the company adjusts following the sale of its broadcast servers and storage and media services businesses.
The figure compares to a first quarter loss of $402,000 (€294,000) for the first quarter of fiscal 2012.
“During the first quarter, we took significant steps to transform SeaChange to become a pure-play software company through the sale of our former broadcast servers and storage business and our media service business units, which ultimately closed in May 2012, so that now we can focus our attention squarely on our software business,” said SeaChange CEO Raghu Rau. “We continue to invest significant resources in developing and launching our next generation software products towards the latter half of this fiscal year. We are also continuing to reduce our overall cost structure and streamline our operations.”
The company is maintaining its previous full year non-GAAP operating income guidance expected to be in the range of $17 million to $20 million.