01 Feb Sonic Foundry reports net loss, higher revenue
Madison, Wis. – Higher operating expenses offset strong quarterly revenue as Sonic Foundry, Inc., a developer of automated rich media communications technology, reported a net loss of $1.4 million or 4 cents per share for the first quarter of fiscal year 2007.
The quarterly net loss was slightly lower than the $1.6 million or 5 cents per share net loss in the same quarter of 2006. The company described the quarter as a seasonally slow period, even though it reported revenue of $3.5 million, an increase of 84 percent from the $1.9 million reported for the first quarter of fiscal 2006.
Operating expenses increased 41 percent to $4.1 million over the $2.9 million reported during the same quarter of 2006. Sonic Foundry attributed the increase to planned growth in sales and marketing, coupled with new services and development initiatives.
The company recently introduced an advanced search function on its Mediasite product.
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