Sonic Foundry has net loss for '05 despite nearly doubled revenue

Sonic Foundry has net loss for '05 despite nearly doubled revenue

Madison, Wis. — Sonic Foundry posted mixed financial numbers for the end of fiscal 2005 on Thursday, nearly doubling revenue while still posting a net loss.
Revenues were $8.3 million, an 89 percent increase over the previous fiscal year, with unit sales up 74 percent, owing to multiple unit sales, repeat purchases, new product offerings and increased marketing efforts.
Operating expenses increased by 20 percent, however, and the company posted a loss of $4.2 million, or 14 cents per share, for the year ending September 30. This is an improvement over last year’s loss of $5.4 million, or 18 cents per share.
Citing an expanded user base and in-roads in the corporate, education, healthcare and government sectors, the company said it expects to break even in fiscal 2006.