SeaChange (SEAC) Beats Revenue Estimates in Fourth Quarter

NEW YORK (TheStreet) -- SeaChange (SEAC) beat revenue estimates in its fourth quarter results while reporting in-line revenue after the bell Thursday.

Shares of SeaChange fell 0.1% to close at $10.56 Thursday.

For the fourth quarter, the company announced earnings of 2 cents a share, exactly meeting analysts' expectations. Revenue remained didn't change from the year-ago quarter, with the software company reporting fourth-quarter revenue of $44.57 million. That beats the estimate of analysts surveyed by Thomson Reuters who expected revenue of $35.04 million.

"Fiscal 2014 was a transitional year for SeaChange," CEO Raghu Rau said in a press release. "We established our next generation Adrenalin multi-screen television platform and Reference Design Kit-based Nucleus video gateway software as leaders in the market, while managing the decline of our legacy products. Over the course of fiscal 2014, we continued to make significant progress with our strategic growth initiatives as demonstrated by our expansion into telcos with multi-screen deployments by two new service providers in Europe, upgrades of our legacy video-on-demand and advertising customers to Adrenalin and Infusion, and further design wins for Nucleus. Our next generation products accounted for two-thirds of total product revenue in the fourth quarter."

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TheStreet Ratings team rates SEACHANGE INTERNATIONAL INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

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