Sonic Foundry Reports First Quarter Fiscal 2013 Results

Non-GAAP Consolidated Statements of Operations

(in thousands, except for per share data)

   
Fiscal Quarter Ended

December 31, 2012

Fiscal Quarter Ended

December 31, 2011

GAAP

 

Adj(1)

  Non-GAAP

GAAP

 

Adj(1)

 

Non-GAAP

 
Revenues $ 6,552 $ 323 $ 6,875 $ 6,185 $ (473 ) $ 5,712

Cost of revenue

1,685

1,685

1,678

1,678

Total operating expenses

 

4,998

   

(441

)

4,557

   

4,579

   

(433

)

 

4,146

 

Income (loss) from operations

(131

)

764

633

(72

)

(40

)

(112

)

Equity investment in earnings from Mediasite KK

78

78

Other expense, net (26 ) (26 ) (52 ) (52 )
Provision for income taxes   (60 )   60       (60 )   60      

Net income (loss)

$

(139

)

$

824

 

$ 685

 

$

(184

)

$

20

 

$

(164

)

Basic net income (loss) per common share

 

$

 

(0.04

 

)

 

$

 

0.21

 

 

$ 0.18

 

 

$

 

(0.05

 

)

 

$

 

0.01

 

 

$

 

(0.04

 

)

 

(1)Adjustments consist of the following:

 
Billings $ 323 $ (473 )
Depreciation and amortization 258 201
Non-cash tax provision 60 60
Stock-based compensation(2)  

183

   

232

 
 
Total non-GAAP adjustments

$

824

$

20

 

(2) Stock-based compensation is included in the following GAAP operating expenses:
 
Selling and marketing $ 118 $ 157
General and administrative 10 14
Product development   55     61  
 
Total stock-based compensation

$

183

$

232


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