ACTON, Mass. (AP) _ SeaChange International Inc. (SEAC) on Monday reported a loss of $27.4 million in its fiscal fourth quarter.
On a per-share basis, the Acton, Massachusetts-based company said it had a loss of 78 cents. Losses, adjusted for asset impairment costs and stock option expense, came to 6 cents per share.
The video software company posted revenue of $23.8 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $23.1 million.
For the year, the company reported that its loss widened to $71.2 million, or $2.04 per share. Revenue was reported as $83.8 million.
For the current quarter ending in May, SeaChange expects its results to range from a loss of 15 cents per share to a loss of 11 cents per share.
The company said it expects revenue in the range of $16 million to $18 million for the fiscal first quarter.
SeaChange expects full-year results to range from a loss of 10 cents per share to earnings of 2 cents per share, with revenue ranging from $80 million to $90 million.
In the final minutes of trading on Monday, the company's shares hit $2.45. A year ago, they were trading at $3.82.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SEAC at https://www.zacks.com/ap/SEAC
Keywords: SeaChange, Earnings Report