29 Apr Sonic Foundry cuts losses as sales continue to rise
Madison, Wis. — Sonic Foundry reported a net loss of $941,000 for the quarter ended March 31, an improvement over its $1.3 million loss for the same period a year ago.
The boost came mostly from increased sales of the MediaSite video and presentation product, which increased by $1 million, the company said. Total revenue for the quarter was $2.1 million, compared to $941,000 for the same quarter in 2004. This marks the 11th consecutive quarter of increased sales.
Rimas Buinevicius, chairman and CEO of Sonic Foundry, said the company had rebuilt itself in the last two years. The company bought MediaSite in 2001, making it the focus of a turnaround after being hit hard as the Internet bubble burst.
MediaSite takes video and presentations, such as PowerPoint slide shows, and makes a synchronized webcast version.