SeaChange Int'l Loss Widens; Stock Down 13%

(RTTNews) - SeaChange International Inc (SEAC) Thursday reported first-quarter net loss of $9.5 million or $0.29 per share compared with a loss of $2 million or $0.06 per share last year.

Revenues for the quarter were lower at $24.3 million compared with $35.6 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.02 per share on revenues of $30.87 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses for the quarter were almost flat at $21 million.

Acton, Massachusetts-based SeaChange provides multi-screen television products that facilitate the aggregation, licensing and distribution of video and television advertisements to cable system operators, among others.

SeaChange stock closed Thursday at $9.30, up $0.05 or 0.54%, on a volume of 204k shares on the Nasdaq. In after hours, the stock dropped $1.20 or 12.90%.