SeaChange International, Inc. is a developer, manufacturer and marketer of digital video systems and services to cable system operators, telecommunications companies and broadcast television companies.
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.
More on SeaChange International (SEAC): Q3 beats across the board, despite a dip in total sales Y/Y. Net profit rose a solid 42% as the video-gear maker's operating costs decreased and offset the weaker sales numbers. Operating expenses shrank 13% to $20M, on lower R&D, marketing, overhead costs and earn-outs. Gross margin narrowed however, to 49.7% from 56.6%. For FY13, the company ups guidance, now seeing earnings of $0.38 to $0.41 on revenue of $155M to $159M. The Street view is for an EPS of $0.34 on $156M in revenue. Shares +5.7% AH.
More on SeaChange International (SEAC): Q1 misses across the board as wider losses due to lower revenue and costs from discontinued operations weigh on bottom line results. The company also lowers Q2 revenue estimates, now expecting to earn between $35M - $37M. Street estimates were at $40M in revenue. Shares -5.7% AH.
Cable infrastructure gear vendor SeaChange (SEAC) is down 7.5% AH after reporting FQ2 revenue of $50.1M (-3% Y/Y) and EPS of $0.12, missing consensus by $5.6M and $0.04. The company blames the shortfall on "unforecasted delays" in recognizing revenue. Earlier today, it was reported SeaChange had won a new software deal with Comcast.