MAYNARD, Mass., May 30 /PRNewswire/ -- SeaChange International, Inc. (Nasdaq: SEAC), a leading provider of digital video systems for television operators, today announced the re-election of Bill Styslinger as chairman of SeaChange's board of directors. Styslinger is president and chief executive officer of SeaChange. The election was held yesterday at SeaChange's first annual meeting of stockholders, which took place in Boston.
Bill Styslinger co-founded SeaChange in 1993. Previously, Styslinger was with Digital Equipment Corp. in executive sales and management positions. As part of Digital's senior management team, he created and managed its Cable Television Business Unit. Prior to this, Styslinger focused on strategic planning in the office of the president and also managed Digital's New York Financial Business.
SeaChange, the leading provider of digital advertisement insertion systems for multichannel television operators, has grown rapidly since its inception. Recently profiled in Business Week's special report on "100 Hot Growth Companies," SeaChange ranked number three in both sales and earnings growth with three-year average increases of 194% and 424%, respectively.
SeaChange's annual revenues for the year ended December 31, 1996 were $49.3 million, compared to $23.2 million the previous year. Its results for the first quarter ended March 31, 1997 reflected $18.1 million in revenues and net income of $1.7 million.
SeaChange's board of directors also includes:
Edward McGrath -- SeaChange co-founder, vice president of engineering and chief technology officer. McGrath has also served as secretary since the Company's inception. Prior to forming SeaChange, he was employed in various positions at Digital Equipment Corp., most recently as director of engineering of the Cable Television Business Unit. Prior to that, McGrath was group manager of Silicon Systems Engineering.
Martin R. Hoffmann -- Hoffmann serves as Of Counsel to Skadden, Arps, Slate, Meagher & Flom. He was a Visiting Senior Fellow at the Center for Policy, Industry and Industrial Development at M. I. T., prior to which he served as vice president and general counsel for Digital Equipment Corp. Hoffmann is also a director of Castle Energy Corp.
Paul H. Saunders -- Saunders has been the chairman and chief executive officer of James River Capital Corp. since 1995. Prior to that, he was managing director of the Managed Futures Dept. at Kidder Peabody & Co.
Carmine Vona -- Vona is president and chief executive officer of Vona Information Systems. Prior to that he was executive vice president and senior managing director for worldwide technology at Bankers Trust Co.
Founded in 1993, SeaChange International, of Maynard, Mass. is the television industry's leading supplier of digital advertisement systems with live sites in more than 170 cities, serving more than 8,000 television channels worldwide. The software-based SeaChange systems allow television operators to utilize distributed computing, MPEG-2 video compression and data networking techniques to automate the distribution and management of ads, infomercials, local origination programming, movies and other revenue generating video.
SeaChange can be found on the Internet at http://www.schange.com.
SOURCE SeaChange International, Inc.
-0- 05/30/97
/CONTACT: John Coulbourn of SeaChange International, 508-897-0100, ext. 267 or johnc@schange.com/
(SEAC)
CO: SeaChange International, Inc. ST: Massachusetts IN: CPR SU: PER
VV-LZ -- NEF012 -- 3332 05/30/97 11:34 EDT http://www.prnewswire.com
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