Envivio shares surged more than 32% in after-hours trading Thursday after the multiscreen video processing and software firm posted fourth quarter revenue growth paired with narrower losses.
Envivio swung to a fourth quarter GAAP net loss of $1.6 million (6 cents per share), versus a loss of $5.4 million (20 cents per share) in the year-ago period. Revenues were $12.7 million, up from $9 million.
"We are encouraged by our results, and by the positive business environment as we head into fiscal 2016,” Julien Signès, founder and CEO of Envivio, said in a statement. “While we have been impacted by the consolidation in the market, we are starting to see results from the increased adoption of our video processing software solutions in our customer base.”
The smarter way to stay on top of broadcasting and cable industry. Sign up below.
Thank you for signing up to Broadcasting & Cable. You will receive a verification email shortly.
There was a problem. Please refresh the page and try again.