NEWS
RELEASE
Contact:
|
Jim
Sheehan
|
Martha
Schaefer
|
|
SeaChange
PR |
SeaChange
IR |
|
1-978-897-0100
x3064 |
1-978-897-0100
x3030 |
|
jim.sheehan@schange.com |
martha.schaefer@schange.com |
SEACHANGE
INTERNATIONAL RECEIVES SHAREHOLDER LETTER
ACTON, Mass. (Sept. 14, 2010)
– SeaChange International, Inc. (NASDAQ: SEAC), a leading provider of software
and hardware solutions for video-on-demand (VOD) television, acknowledged today
that its Board of Directors received a letter from Ramius LLC addressing certain
operational and other business issues related to the Company’s Software and
Servers & Storage business units.
Bill
Styslinger, SeaChange’s Chairman of the Board and CEO stated, “The Board of
Directors welcomes open dialogue and feedback from our shareholders and will
carefully consider the matters raised by Ramius. The Board and
management team are committed to undertaking actions with the shared goal of
enhancing value for our shareholders, customers and employees.”
About
SeaChange International
SeaChange
International is a leading provider of software applications, services and
integrated solutions for video-on-demand (VOD), digital advertising and content
acquisition, monetization and management. Its powerful open VOD and
advertising software and scaleable hardware enable cable and telco operators, as
well as broadcasters, to provide new on-demand services and to gain greater
efficiencies in advertising and content delivery. With its Emmy
Award-winning and patented technology, thousands of SeaChange deployments are
helping broadband, broadcast and satellite television companies to streamline
operations, expand services and increase revenues. Headquartered in Acton,
Massachusetts, SeaChange has product development, support and sales offices
around the world. Visit www.schange.com.
(more)
SeaChange
Receives Shareholder Letter/Page 2
Safe Harbor
Provision
Any
statements contained in this document that do not describe historical facts may
constitute forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Any such forward-looking statements
contained herein 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. The factors that could cause actual future results to differ
materially from current expectations include the following: the Company’s
dependence on the continued spending of customers on video systems and services;
the continued growth, development and acceptance of the video-on-demand market;
the impact of worldwide economic cycles; the impact of measures the Company has
taken to address slowdowns in the market for the Company’s products and
services; the loss of one of the Company's large customers; the cancellation or
deferral of purchases of the Company's products; a decline in demand or average
selling price for the Company’s products; the Company's ability to manage its
growth; unanticipated delays in or costs and expenses relating to implementation
of cost reduction or other restructuring plans, including with respect to the
server and storage business; the risks associated with international sales,
including risks associated with changes in foreign currency exchange rates; the
Company's ability to protect its intellectual property rights and the expenses
that may be incurred by the Company to protect its intellectual property rights;
an unfavorable result in current and any future litigation in which the
Company is involved; content providers limiting the scope of content licensed
for use in the video-on-demand market; the Company's ability to introduce new
products or enhancements to existing products; the Company's dependence on
certain sole source suppliers and third-party manufacturers; the Company’s
ability to obtain licenses or distribution rights for third-party technology at
acceptable prices; the Company's ability to compete in its marketplace; the
Company's ability to respond to changing technologies; the performance of
companies in which the Company has made equity investments, including On Demand
Deutschland GmBH & Co. KG; the ability of the Company to realize the
benefits of its acquisitions of eventIS Group B.V. and VividLogic, Inc. and to
integrate these and any future acquisitions; future acquisitions or joint
ventures that are unsuccessful; impairment of the Company’s goodwill or
intangible assets; risks in the Company’s investments that adversely affect the
value or liquidity of the investments; changes in the regulatory environment;
the Company's ability to hire and retain highly skilled employees; any
weaknesses over internal controls over financial reporting; any additional tax
liabilities that the Company may be subject to; system errors, failures or
disruptions; and volatility of the Company’s stock price.
Further
information on factors that could cause actual results to differ from those
anticipated is detailed in various publicly available documents made by the
Company from time to time with the Securities and Exchange Commission, including
but not limited to, those appearing at Item 1A under the caption "Risk Factors"
in the Company's Annual Report on Form 10-K filed with the Commission on April
9, 2010. Any forward-looking statements should be considered in light of those
factors. The Company cautions readers not to place undue reliance on any such
forward-looking statements, which speak as of the date they are
made.
The
Company disclaims any obligation to publicly update or revise any such
statements to reflect any change in Company expectations or events, conditions
or circumstances on which any such statements may be based, or that may affect
the likelihood that actual results may differ from those set forth in the
forward-looking statements.
--- end
- ---