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SeaChange International moved back into the black in the fourth quarter after the VOD hardware and software provider received a $12.6 million gain on the sale of its interest in UK VOD joint venture FilmFlex Movies Limited. The $14.6 million net income compared with a net loss of $3.7 million in the fiscal Q4 2007.
SeaChange recorded a 19% increase in revenues in Q4, reporting $40.1 million, the second highest in the company’s history.
The FilmFlex sale was also apparent in SeaChange’s full year results for the financial year ending January 31,2008, where net income of $5.4 million compared with a loss of $8.2 million the previous year.
Adjusted EBITDA of $12.1 million was more than double the $5.5 million in fiscal 2007 and excluded the FilmFlex gain.
The sale of FilmFlex contributed $18 million to the company’s cash and investments balance at January 31, 2008.
Adjusted EBITDA for fiscal 2008 was $12.1 million, which was more than double the $5.5 million of Adjusted EBITDA generated in fiscal 2007. Adjusted EBITDA for all of fiscal 2008 excluded the impact from the gain on the sale of the Company’s interest in FilmFlex.
SeaChange recorded a 19% increase in revenues in Q4, reporting $40.1 million, the second highest in the company’s history.
The FilmFlex sale was also apparent in SeaChange’s full year results for the financial year ending January 31,2008, where net income of $5.4 million compared with a loss of $8.2 million the previous year.
Adjusted EBITDA of $12.1 million was more than double the $5.5 million in fiscal 2007 and excluded the FilmFlex gain.
The sale of FilmFlex contributed $18 million to the company’s cash and investments balance at January 31, 2008.
Adjusted EBITDA for fiscal 2008 was $12.1 million, which was more than double the $5.5 million of Adjusted EBITDA generated in fiscal 2007. Adjusted EBITDA for all of fiscal 2008 excluded the impact from the gain on the sale of the Company’s interest in FilmFlex.