SeaChange International Cuts Q4 Outlook

(RTTNews) - SeaChange International, Inc. (SEAC) said Tuesday that it now expects fourth quarter revenue of $34.5 million to $35.5 million and adjusted operating income of $0.01 to $0.02 per share. Previously, the company expected revenue of $40 million to $45 million and adjusted operating income of $0.15 to $0.20 per share.

Analysts polled by Thomson Reuters expect the company to post revenue of $43.45 million for the fourth quarter.

"We are very disappointed that fourth quarter revenues came in below our guidance range," said Raghu Rau, CEO, SeaChange. "The primary reasons for this shortfall were delays in receiving anticipated orders from customers in the Americas along with continued delays in receiving some final acceptances. The magnitude of these delays was greater than expected, given our customer concentration and the timing of our sales, wherein many sales occur towards the end of a quarter."

For the full fiscal year 2014, SeaChange anticipates revenue in the range of $145 million to $146 million, adjusted operating income of $0.24 to $0.25 per share.