News Column

BRIEF: Sonic Foundry reports quarterly results, announces new, large customer

February 7, 2014

By Judy Newman, The Wisconsin State Journal



Feb. 07--Sonic Foundry reported higher revenues but a wider loss for the first fiscal quarter that ended Dec. 30.

The Madison company had a net loss of $690,000, or 17 cents a share, on revenues of $7.2 million compared with a net loss of $139,000, or 4 cents a share, on revenues of $6.6 million for the same period, a year ago.

The most recent quarter included $450,000 in acquisition costs. Sonic Foundry completed the purchase of MediaMission, a Dutch firm, in December, and of Mediasite KK, of Japan, in January, for $7.3 million.

The company also said it had $7 million of deferred revenue from service contracts, and $2.5 million of that will be paid during the current quarter.

Sonic Foundry's Mediasite technology is used to stream presentations over the Internet and archive them.

The company also reported on Thursday that the University of Leeds, in the United Kingdom, has signed an agreement to use Mediasite to handle its lectures and make them available to students and faculty. The contract should provide the company with $1 million this fiscal year, Sonic Foundry said.

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(c)2014 The Wisconsin State Journal (Madison, Wis.)

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Source: Wisconsin State Journal (Madison, WI)


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