SeaChange (NASDAQ:SEAC): expects revenue of $18.3-$18.5M vs. earlier guidance of $23.0-$25.0M
Non-GAAP loss of approx. $0.19-$0.23 vs. prior guidance of $0.10-$0.25.
The Factors contributing to updated expectations was due to an increase in estimated time to complete active statements of work, and select transactions expected to close in the second quarter that were delayed due to shifts in customers’ schedules.
The Company’s cash position as of July 31, 2016 was ~$51.0M, in line with prior expectations.