Sonic Foundry Inc. (NASDAQ: SOFO), a leader in automated rich media
communications technology, announced results for its first quarter of
fiscal 2006 today. Financial and company highlights for the first quarter
include:
Revenues increasd 18 percent year-to-year. For the first quarter of fiscal
2006, Sonic Foundry reported revenues of $1.9 million, an increase of 18
percent from $1.6 million reported for the first quarter of fiscal 2005.
During this seasonally slow period, the company reported a net loss of
$1.6 million or five cents per share for the first quarter of fiscal 2006
compared to $1.4 million or five cents per share in Q1-2005. Current
period results include non-cash expense of $182,000 related to a new
accounting rule change requiring companies to record the cost of issuing
stock options.
The customer base grew, rising to 491 at the end of the first quarter of
2006, a 79 percent increase over the first
quarter last fiscal year. The company reported multi-unit sales in key
verticals including education (University of Cincinnati and Victoria
University), government (Maryland House of Delegates) and corporate
(Raytheon). Other new customers include Mutual of Omaha, Merck, Carnegie
Mellon and the Tiger Woods Learning Center.
