SeaChange International Inc.'s move to focus on software and play down its hardware business continues to pay off for the digital video firm. The company posted fourth-quarter revenues of US$61.4 million, up 16 percent, while notching net income of $10.9 million. Revenues for servers and storage, per the company's new strategy, dropped $3.5 million, to $8.8 million, year-on-year. Comcast Corp., Virgin Media Inc. and Cox Communications Inc. were SeaChange's 10 percent-or-greater customers in the quarter. (See SeaChange Ships Some Server Costs Overseas .)
Cisco stock was up about 1.5 percent in early trading today on news that it will issue its first ever quarterly dividend -- a payout of 6 cents per share.
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