21 Nov Organic growth continues, but Sonic Foundry reports loss
Madison, Wis. – Sonic Foundry, a Madison-based communications technology company, has reported a net GAAP loss of $6.4 million, or $0.18 cents per diluted share, for fiscal 2007.
The 2007 net loss compares to $0.11 cents per share in fiscal 2006, but the company continues to report healthy revenue growth. Fiscal 2007 GAAP revenues were up 33 percent to $16.7 million, compared to fiscal 2006.
Total annual billings, which include product license fees as well as services comprised of support contracts, webcasting, and other services, were $19.7 million, an increase of 44 percent over 2006.
Sales to higher-education customers continue to contribute strongly to the company’s overall sales. The company, whose core product is the MediaSite web conferencing tool, said education institutions represented 49 percent of its customer mix, followed by corporations at 32 percent and government at six percent.
Revenues for the fourth quarter of fiscal 2007 were $4.7 million, an increase of 15 percent from the $4.1 million reported for the fourth quarter of fiscal 2006.
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