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High Tide for SeaChange

8/10/2003 8:00 PM Eastern

Independent Research Group LLC analyst Erik Zamkoff reiterated his "buy" rating on video-on-demand server company SeaChange International Inc., citing an expectedly robust second quarter.

In his report, Zamkoff said SeaChange is on track to meet his fiscal 2004 second-quarter VOD revenue target of $17.3 million, and believes it could also increase its industry-leading market share of 60% of video streams deployed to 70% by the end of 2004.

He added that ad-insertion and broadcast sales are stabilizing after year-over-year declines of 17% and 64% for the six months ended in April.

"We believe [SeaChange] has reached the bottom in both segments and expect sequential revenue growth throughout FY04/FY05," Zamkoff wrote.

September