SeaChange International Announces SEcond Quarter Fiscal 2011 Results

SeaChange International, Inc. SEAC, a leading provider of software and hardware solutions for video-on-demand (VOD) television, announced financial results for its fiscal 2011 second quarter ended July 31, 2010. Total non-GAAP revenues for the quarter amounted to $52.9 million, which was $6.4 million or 14% higher than total revenues of $46.5 million for the second quarter of fiscal 2010. GAAP revenues for the quarter were $51.6 million, which was $5.1 million or 11% higher than total revenues of $46.5 million for the second quarter of last year. Non-GAAP net income for the second quarter was $3.2 million or $0.10 per share, compared with non-GAAP net income of $1.6 million, or $0.05 per share, for the same period last year. GAAP net income for the second quarter of fiscal 2011 was $3.5 million, or $0.11 per share, compared with a GAAP net loss of $0.4 million or $0.01 per share, for the second quarter of fiscal 2010.