Sonic Solutions Narrows Q1 Loss4 Aug, 2010 By: Erik Gruenwedel
Sonic Solutions Aug. 4 credited sales of its RoxioNow movie download software with narrowing the first-quarter (ended June 30) net loss to $1.1 million from a net loss of $1.8 million during the previous-year period.
Revenue for Novato, Calif.-based Sonic was flat at $25.4 million, compared with revenue of $25.5 million last year. Operating expenses increased $300,000 to $19.3 million due in part to $1.6 million in expenses associated with the DivX acquisition.
RoxioNow contributed the majority of the $5 million in revenue attributed to Sonic’s premium content business segment, up from $3.1 million last year.
“Much of the growth we experienced in the first quarter was from our RoxioNow premium content initiatives, as we added major retail storefront partners and [consumer electronics] manufacturers that will broaden our platform for distributing movies and television shows through Internet-enabled devices,” said CEO Dave Habiger.
Separately, Sonic said it inked a deal with Widevine digital rights management (DRM) and streaming technologies to deliver movies and other video content to a variety of portable media components, including Android, iPad, iPhone and Blackberry-brand devices.