Brief: Sonic Foundry Q2 loss per share $0.33

Sonic Foundry

11/05/2017 21:09

May 11 (Reuters) - Sonic Foundry Inc  SOFO.O : 
    * Sonic Foundry announces fiscal 2017 second quarter 
financial results 
    * Q2 loss per share $0.33 
    * Q2 revenue fell 11 percent to $8.6 million 
    * Sonic foundry inc says  billings totaled $9.2 million in 
q2 of 2017, a decline of 10% compared to last year's same period 
    * Sonic Foundry Inc says  unearned revenue from services and 
products decreased $1.4 million, or 10% to $12.7 million as of 
march 31, 2017 
    * Sonic foundry -announced a restructuring that targets a 
reduction in corporate overhead expenses between $2 and $3 
million annually 
    * Sonic foundry inc -announced a restructuring that targets 
reduces level of revenue required to break-even by approximately 
$3 to $4 million 
    * Sonic foundry -restructuring plans include reducing 
headcount and consolidating certain functional areas, 
re-organizing sales team 
    * Sonic foundry inc says  restructuring initiatives will 
result in a non-material charge to fiscal q3 earnings 
    * Sonic foundry inc says  withdrawing previously issued 
annual guidance and will re-evaluate providing guidance at start 
of next fiscal year 
 
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