Seeking Alpha

SeaChange issues FQ4 warning, shares -13.2% AH

SeaChange (SEAC) expects to report FQ4 (Jan. quarter) revenue of $34.5M-$35.5M and non-GAAP op. income of $0.01-$0.02/share, below prior guidance of $40M-$45M and $0.15-$0.20/share. The consensus is for revenue of $43.5M and EPS of $0.19.

The cable infrastructure hardware/software vendor blames delayed orders from Americas customers and "continued delays in receiving some final acceptances."

SeaChange also says it now expects FY15 (ends Jan. '15) revenue to be flat to down; the consensus is for 9% growth. The company still expects profits to grow thanks to cost cuts and stronger sales of new (higher-margin) products.

CC at 5PM ET.

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