| SeaChange International Posts Wider Loss in 1Q As Litigation Charges Weigh on Results ACTON, Mass. -- SeaChange International Inc. -- which makes video-on-demand, advertising and broadcast equipment -- reported Thursday a wider first-quarter loss, as heavy litigation costs weighed down results. The loss for the first quarter was $4.4 million, or 15 cents per share, compared to a loss of $578,000, or 2 cents per share, in the year-ago period. Revenue for the period ending April 30 increased to $33.2 million from $31.5 million for the same quarter a year ago. The results missed the average expectations from analysts polled by Thomson Financial, who were looking for revenue of $34.5 million. The company's results include an $8 million payment in April related to the nCube patent litigation. Earlier this year, a federal appeals court upheld a lower court's ruling that SeaChange infringed on a video server architecture patent of C-Cor Inc., a supplier of networking equipment. The patent was held by nCube Corp., which was acquired by C-Cor in January 2005. Shares of SeaChange closed down a penny at $6.23 on the Nasdaq, and gained 60 cents, or 9.6 percent, to $6.83 on the INET electronic exchange. |
