SEAC

SeaChange International, Inc. (SEAC)

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Industry: Technology
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SeaChange International Inc. (SEAC)

F2Q10 Earnings Call

September 1, 2009; 5:00 pm ET

Executives

Bill Styslinger - President & Chief Executive Officer

Kevin Bisson - Chief Financial Officer

Yvette Kanouff - Chief Strategy Officer

Martha Schaefer - Director of Investor Relations

Analysts

Greg Mesniaeff - Needham & Co.

Chris Glancy - Associate Analyst

Todd Mitchell - Kaufman Brothers

Greg Mesniaeff - Needham & Co.

Presentation

Operator

Good afternoon. Eye name is Christian and I’ll be your conference operator today. At this time I’d like to welcome everyone to the second quarter fiscal year 2010 earnings conference call. All lines have been placed on mute to present any background noise. After the speakers’ remarks there will be a question-and-answer session. (Operator Instructions)

I’ll now turn the call over to your host Ms. Martha Schaefer, Director of Investor Relations. Madam you may begin.

Martha Schaefer

Thank you, Christian. Good afternoon everyone and thank you for joining us. SeaChange released results for the second quarter fiscal 2010 today at the market close. I apologize for the delay in the release we did have some logistical issues. In that release we gave further information concerning our acquisition of eventIS.

We also publicly distributed our prepared remarks with our earnings release and we’ll focus on your questions on this call today. If you do not have this material, please go to the Investor Relations page on our website www.schange.com to download both the release and the remarks.

I welcome your comments and suggestions related to the format of our earnings call and anything else we can do to improve our communications with you. As always I’d like to remind you that the information we’re about to discuss may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. These risks are outlined in our SEC filings including our Annual Report on Form 10-K which was filed on April 14, 2009 and a forward-looking statement should be considered in light of those factors.

Any redistribution, retransmission or rebroadcast of this presentation in any Form without the express written consent of SeaChange International is prohibited. Bill Styslinger our CEO and Chairman is in the Netherlands today with Erwin Van Dommelen of eventIS and joining us by phone, there maybe a slight delay I apologize in advance with the phone lines.

Here in action, we have Kevin Bisson, our CFO and Yvette Kanouff our Chief Strategy Officer and I guess Christian at this point I’d like to just open the call for Q-and-A. Could you give instructions again please?

Question-and-Answer Session

Operator

(Operator Instruction) Your first question comes from Greg Mesniaeff - Needham & Co.

Greg Mesniaeff - Needham & Co.

Can you give us some more color on the renewal of the licensing arrangement with Comcast in terms of which markets it covers or whether it’s, what the pace of refresh or deployment would be overtime?

Yvette Kanouff

The agreement that we have is for which is upgrade ability of all of their software across all of their systems at the corporate levels agreement that we have with them and so we typically go through what their plans are and work our releases in conjunction with them, so that they can release their software several times throughout the year.

Greg Mesniaeff - Needham & Co.

There’s no specific timetable set at this time? As far as which markets, get upgraded first and then followed by which other ones?

Yvette Kanouff

No, and it’s not specific to that in terms of our agreement either. They have full flexibility to do whatever markets they need for their corporate planning.

Operator

Your next question comes from Chris Glancy - Associate Analyst.

Chris Glancy - Associate Analyst

I was just wondering Verizon seems like it’s a pretty big opportunity for you guys obviously and I’m just trying to get a sense for as they built out their wireless network, at what point can we look to announcements from Verizon and where can we see you guys fitting into the process putting the VOD servers into their networks? I guess the question is at what point in their build out are you guys their putting your product?

Yvette Kanouff

Well, it’s a public information that we are a part of their video-on-demand network, and so we do have places where we have our software technology and our video server technology in their cites. As far as their detail of their rollout and correlating that to exact, what server is where, I mean Verizon just doesn’t do that. So that’s not any kind of level of detail that we publicly been able to talk about.

So I think as far as what, Verizon is comfortable with us saying, is that they are a customer, a large customer of ours and that we have software and hardware deployed that’s about as far as I think we are allowed to go with it.

Bill Styslinger

I think we’ve said in the past and continue to be. This year we received a number of large orders from Verizon and thus far the only software and hardware use of VOD is SeaChange.

Chris Glancy - Associate Analyst

Kind of switching gears here on the operating side for the first quarter, the Media Services segment. Gross margin is lower due to, looks like you guys were beefing up some headcount and developing some in-house video processing capabilities. When do you expect to see the benefits of those in-house capabilities? What kind of gross margins are we looking at going forward? Are we going to look at mid-teens like we’ve seen in recent history or can we go higher from there?

Read the rest of this transcript for free on seekingalpha.com