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SeaChange Q3 revenue $37.8 million

Staff writer ▼ | December 7, 2013
SeaChange International reported third quarter fiscal 2014 revenue of $37.8 million and non-GAAP operating income of $2.9 million, or $0.09 per fully diluted share, from continuing operations.
SeaChange International
SeaChange InternationalSeaChange International reported third quarter fiscal 2014 revenue of $37.8 million and non-GAAP operating income of $2.9 million, or $0.09 per fully diluted share, from continuing operations.


In comparison, third quarter fiscal 2013 revenue was $39.2 million and non-GAAP operating income was $2.9 million, or $0.09 per fully diluted share, from continuing operations. The company posted U.S. GAAP operating income of $0.5 million, or $0.02 per diluted share, for the third quarter of fiscal 2014, compared to a U.S. GAAP operating loss for the third quarter of fiscal 2013 of $1.6 million, or $0.05 per fully diluted share.

The company's U.S. GAAP third quarter fiscal 2014 results include charges of $2.4 million that are excluded from our non-GAAP results, which consisted primarily of stock-based compensation and amortization of intangible assets from prior acquisitions.

For the first nine months of fiscal 2014, the company posted revenues of $110.7 million and non-GAAP operating income of $7.5 million, compared to revenues of $112.6 million and non-GAAP operating income of $6.4 million in the same prior period.

The company posted a GAAP operating loss for the first nine months of fiscal 2014 of approximately $0.8 million, compared to a GAAP operating loss of $10.3 million for the same prior period.

SeaChange ended the third quarter of fiscal 2014 with cash, cash equivalents and marketable securities of $126.4 million.


 

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