Sonic More Than Triples Q4 Profit3 Jun, 2010 By: Erik Gruenwedel
Spurred by a $200,000 increase in its premium content revenue segment, Sonic Solutions June 3 reported fourth-quarter (ended March 31) net income of more than $1.1 million, up considerably from net income of $328,000 during the prior-year period.
Novato, Calif.-based Sonic’s premium content unit includes the RoxioNow movie download technology incorporated by a host of third-party retailers, including Best Buy and Blockbuster On Demand, among others.
Revenue for the unit totaled $4.3 million, compared with $4.1 million last year.
Sonic, which announced it intends to acquire San Diego-based DivX, reported overall revenue of $26.3 million, down nearly 19% from revenue of $32.2 million last year.
Separately, a Hartford, Conn.-based law firm specializing in class action litigation said it is investigating whether there was enough disclosure to shareholders concerning the terms of the acquisition — notably compensation offered to DivX shareholders.