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SeaChange soars on earnings beat

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NASDAQ:SEAC   SeaChange International, Inc
SeaChange (NASDAQ:SEAC) has jumped 16% after hours after its Q2 earnings topped expectations and the company hit operating profitability sooner than expected.
The company also named Yossi Aloni its president and chief executive officer. Aloni had joined in January as chief commercial officer; he "strategized, developed and implemented the Framework solution and Go-to-Market strategy that is responsible for the Company’s recent growth," it says.
Chad Hassler has been named the new chief commercial officer.
Revenues jumped 58% to $18.8M.
The company narrowed its GAAP net loss to $0.2M from a year-ago loss of $9.1M.
For the full year, it's looking to increase total revenue by low to mid-double digits to $70M-$80M despite lower service revenues, and to hit EPS of $0.03-$0.19.
SOURCE SEEKING ALPHA.


COMPANY PROFILE
SeaChange International, Inc. engages in the provision of transformative multiscreen video delivery and advertising solutions. Its products and services include video platform, content management, advertising, user experience, and professional services, maintenance and support. It sells its products to operators, telecommunications companies, satellite operators, and broadcasters. The company was founded by William C. Styslinger III on July 9, 1993 and is headquartered in Acton, MA.

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