Revenues were up but so were losses for Sonic Foundry in the quarter ending Sept. 30 and for the firm’s 2014 fiscal year.
The Madison company reported a net loss of $1.3 million, or 30 cents a share, on revenues of $8.5 million for the fourth fiscal quarter, compared with a net loss of $666,000, or 17 cents a share, on revenues of $6.8 million for the same period last year.
For the 2014 fiscal year, the company had a net loss of $2.8 million, or 67 cents a share, on revenues of $35.8 million, compared with a net loss of $792,000, or 20 cents a share, on revenues of $27.8 million for 2013 .
Sonic Foundry’s Mediasite technology offers equipment and services for streaming presentations over the Internet and archiving them.
“Despite the complexities we experienced this year, including two planned international acquisitions, an unforeseen legal settlement, a shortfall of construction labor delaying forecasted projects in Japan and a significant change in the currency conversion rate, we’re confident we’ve taken the right steps to position the company for improved operational, sales and financial performance over time,” CEO Gary Weis said.
Sonic Foundry bought a Dutch firm last December and a Japanese company in January for a total of $7.3 million.