Sonic Foundry reports net loss, higher revenue in Q2

Madison, Wis. - Continued growth in revenue and billings could not prevent Sonic Foundry from reporting a (GAAP) net loss of $2.3 million, or $0.06 per diluted share, for the second quarter of fiscal 2008.

The Madison-based rich media webcasting and knowledge-management company reported quarterly revenues of $3.9 million, up three percent from the second quarter of 2007, and service revenues of $1.7 million, up 88 percent from the same period last year

Meanwhile, total billings were $4.5 million, which represents nine percent year-over-year growth.

The company, which has concentrated more of its selling in the education sector, is entering the two strongest seasons for U.S. educational buying. Quarterly sales to education institutions represented 51 percent of the customer mix, followed by corporations at 37 percent, government at seven percent, and health at four percent

In addition, Sonic Foundry continues to report expanded purchasing internationally due to growing demand in traditional- and distance-learning programs. International sales accounted for 23 percent of the quarter's billings.

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