SeaChange International, provider of software and hardware services that support video-on-demand television, reported that fourth-quarter revenues rose 13 per cent to $54 million. Fourth-quarter net income was $4.8 million, down from $12 million in the comparable quarter a year ago; the year-ago quarter included a one-time $10 million gain, the company said.

"Despite the challenging economic times this country is facing, we believe SeaChange is solidly positioned to exploit the continuing movement to video-on-demand television that has been the cornerstone of our business," president and chief executive Bill Styslinger said.

Total revenues for the year that ended January 31st were $201.8 million, up 12 per cent, and full-year net income was $10 million, versus $2.9 million from the previous year.

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