SeaChange International has posted revenues of $54.1 million (€44 million) for the fiscal quarter ended April 30, 2010, or 11% more than in the corresponding period last year.
Its GAAP net income amounted to $24.6 million, compared to $1 million a year earlier, while software revenue grew by 34% year-on-year to $40.9 million, driven by – amongst other things – higher Axiom and VOD advertising product from a large North American cable TV provider.
Commenting on the results, Bill Styslinger, chairman and CEO, SeaChange, said: “We’re very pleased to report a strong first quarter in our core software business, Among the notable contributing factors was our ability to secure a highly strategic VOD back office win to place our Axiom software in all locations at one of our largest North American cable customers. Additionally, our VividLogic acquisition generated contract renewals and extensions with key operators.”
SeaChange was selected by a US cable operator for a multi-screen video trial.