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General

SeaChange starts cost reduction programme, with aim of returning to profit before year end

Thursday 6 September 2018 | 10:13 CET | News
Multi-screen video services company SeaChange said revenues for the second quarter of fiscal 2019 came in within its revised forecast, falling to USD 11.9 million from 17.2 million the year earlier. The loss from operations meanwhile widened to USD 8.3 million or USD 0.23 per basic share, from a loss the year before of 2.1 million or 0.06 per basic share. The company had lowered its Q2 guidance on the back of delays in customer purchasing decisions. Looking forward, the company sees improvement in its results, helped by a cost reduction programme that should save USD 6 million per year. The

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Categories: General
Companies: SeaChange
Countries: World
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