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News Breaks
December 6, 2013
12:34 EDTROVI, SEAC, DOXSeaChange plummets after results, guidance trail estimates
SeaChange (SEAC) shares are sinking after the company’s third quarter results and fourth quarter guidance fell short of analysts’ consensus estimates. WHAT'S NEW: Last night, SeaChange reported Q3 earnings per share of 9c and revenue of $37.8M. Analysts' expectations were for EPS of 15c and revenue of $41.54M. WHAT'S NOTABLE: SeaChange said it expects Q4 EPS of 15c-20c and revenue of $40M-$45M, compared to the consensus estimates of 36c and $52.17M. The company, which is involved in the delivery of multi-screen video, said its outlook reflects anticipated delays in receiving customer acceptances of new products and finalization of agreements for Nucleus and Adrenalin. ANALYST REACTION: This morning, research firm Brean Capital defended SeaChange, saying the company’s Q3 shortfall was not as bad as it appeared. The firm accepted management's explanation as credible, and expects success with next generation products in its pipeline. Brean Capital said the company is a highly strategic asset to a large hardware centric vendor in the space. It maintained its Buy rating on the shares with an $18 price target. PRICE ACTION: In early afternoon trading, SeaChange fell $2.43 or about 16.9% to $11.97 on nearly seven times its average daily trading volume. Despite today’s slide, the stock is up approximately 22% year to date. OTHERS TO WATCH: SeaChange’s competitors include Rovi Corporation (ROVI), and Amdocs limited (DOX).
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April 23, 2014
08:30 EDTROVIRovi signs IP license agreement with NTT DoCoMo
Rovi Corporation (ROVI) announced that it has entered into a new license agreement with NTT DOCOMO (DCM), a mobile service provider in Japan, for the use of Rovi’s video discovery and interactive program guide patents and technologies. This new agreement expands upon a previous agreement between the two companies to now cover NTT DOCOMO’s video on demand services.

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