SeaChange International (SEAC) said its revenue for the fiscal second quarter climbed 73% from a year ago, and the provider of digital video systems swung to a profit.
Total revenue for the quarter reached $45.4 million, up from $26.2 million last year. SeaChange earned $600,000, or 2 cents a share, compared with a loss of $6.6 million and 23 cents a share for the same period a year earlier. Analysts surveyed by Thomson Financial were calling for sales of about $37 million. Shares of SeaChange jumped $1.30, or 16.7%, to $9.10 in after-hours trading Wednesday. The company said it believes fiscal 2007 will be a strong year with "significant year-over-year, top-line growth. Despite higher-than-anticipated software-development revenue in the second quarter, we continue to expect our second-half revenue to be modestly higher than the first half."- Loading Comments...
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