News Column

BRIEF: Sonic Foundry reports record revenue

August 13, 2014

By Judy Newman, The Wisconsin State Journal



Aug. 13--Sonic Foundry said revenues hit record levels for the second quarter in a row but profits inched down from a year ago.

The Madison company, whose Mediasite technology streams and archives online presentations, reported net income of $33,000, or 1 cent per share, on revenues of $11.3 million for the third fiscal quarter that ended June 30. That compared with profits of $40,000, or 1 cent per share, on revenues of $8.0 million for the same period last year.

The figures include Mediasite KK and MediaMission, distribution companies in Europe and Asia that Sonic Foundry bought in January for $7.3 million. They also include large customer deployments, including University of Leeds, Great Britain.

Sonic Foundry said it completed a settlement agreement with Astute Technology, of Reston, Virginia. Under the agreement, Sonic paid $367,000 in June and will make similar payments in November and April for a total of $1.1 million. The company also recorded legal fees of $313,000 in the most recent quarter.

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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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