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BRIEF-Sonic Foundry Q2 loss per share $0.33
May 11, 2017 / 8:58 PM / 2 months ago

BRIEF-Sonic Foundry Q2 loss per share $0.33

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May 11 (Reuters) - Sonic Foundry Inc:

* 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 Source text for Eikon: Further company coverage:

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