SeaChange surges on revenue gain, VoD deployments

Shares in video-on-demand technology vendor SeaChange International (Nasdaq: SEAC) jumped more than 8 percent Friday morning, after it reported increased revenue and deployments of its VoD software.

The company, which appointed a new CEO last month, reported $53.4 million in revenue for its fiscal third quarter of 2012, an increase of 9 percent compared to this time last year. It attributed gains in software revenue to "a significant home gateway software licensing transaction with a large domestic service provider." The company didn't name the MSO that ordered its gateway software, but also noted that it has scored rollouts of its advanced advertising solution with Comcast (Nasdaq: CMCSA), AT&T (NYSE: T) and Virgin Media (Nasdaq: VMED).

SeaChange said that Cablevision Mexico launched its subscription video on demand product in November, and that its servers and storage revenue benefited from expanded rollouts at Canadian MSO Rogers Communications (NYSE: RCI), a deployment by a European operator and several orders from customers in China.

SeaChange stock was trading at $7.57 at 10:30 a.m. ET Friday, up 59 cents, or 8.45 percent.

For more:
- see the earnings release

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