Seachange International, Inc. (SEAC) Misses Q3 EPS by 6c; Guides Below the Street

December 5, 2013 4:06 PM
Seachange International, Inc. (NASDAQ: SEAC) reported Q3 EPS of $0.09, $0.06 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $37.8 million versus the consensus estimate of $41.45 million.

Seachange International, Inc. sees Q4 2014 EPS of $0.15-$0.20, versus the consensus of $0.36. Seachange International, Inc. sees Q4 2014 revenue of $40-46 million, versus the consensus of $52.2 million.

"We continue to execute on our plan to deliver our new generation of products globally, which have grown 62 percent year over year to represent 45 percent of all product revenues, compared to 25 percent a year ago," said Raghu Rau, CEO, SeaChange. "We are also pleased to announce the commercial launch of our Adrenalin multi-screen platform by a large European telco and a Scandinavian cable operator during the quarter. Our Infusion advanced advertising platform, integrated with Adrenalin, was launched by a large European service provider last week."

"Our opportunity funnel remains very robust and we continue to respond to strong interest in our Nucleus gateway software and Adrenalin by many of the world's leading operators," Rau continued. "However, we continue to experience some delays in receiving final product acceptances and some agreements expected for the third and fourth quarter are experiencing delays in signing due to expanded scope and the complex nature of the customer decision making process, which involves the customer selecting multiple vendors."

For earnings history and earnings-related data on Seachange International, Inc. (SEAC) click here.


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