SeaChange reported reduced earnings in the second quarter following the sale of both its broadcast server and media services businesses.
The company said Q2 revenues totalled $36.7 million (€29.2 million) , compared to $38.4 million in the equivalent period last year.
“Throughout SeaChange’s second quarter we have executed on our strategy. We continue to reduce our overall sales, general and administrative costs and manufacturing costs and further streamline our organization. We have recently announced design wins for our next generation Adrenalin video back office platform with two major US cable multiple system operators, and our Infusion advanced advertising platform with large service providers in both North America and Europe,” said Raghu Rau, SeaChange CEO. “Our focus over the next two quarters will be to deliver on commitments to our customers, increase revenue, improve the bottom line and drive shareholder value.”
SeaChange posted a second quarter loss of $6.8 million, compared to last year’s small profit of $777,000.