Madison-based Sonic Foundry reported a $1 million net loss (24 cents/share) for its first fiscal quarter of 2015, but CEO Gary Weis remains optimistic. A year ago, the company reported a net loss of $690,000 (17 cents/share). Revenues for the quarter were 21% ahead of the first fiscal quarter of 2014, at $8.7 million.
In a press release, Weis said one Middle East project that was expected to close in 2014 will likely close in February. “Our expectations for the remainder of 2015 are high as we see further momentum toward the largest, most strategic sales in our company’s history,” he said in a release.
