Sonic Foundry, Inc. reported consolidated earnings results for the fourth quarter and full year ended September 30, 2017. For the quarter, the company reported, total revenue of $8,300,000, loss from operations of $1,411,000, loss before income taxes of $1,532,000, net loss attributable to common stockholders of $1,679,000, compared to total revenue of $9,455,000, loss from operations of $493,000, loss before income taxes of $848,000, net loss attributable to common stockholders of $847,000, for the same period a year ago. Adjusted LBITDA was $836,000 against adjusted EBITDA of $4,000 a year ago. Basic and diluted loss per common share was $0.37 against $0.19 a year ago.

For the year to date, the company reported, total revenue of $36,000,000, loss from operations of $4,558,000, loss before income taxes of $5,118,000, net loss attributable to common stockholders of $5,208,000, compared to total revenue of $37,975,000, loss from operations of $2,276,000, loss before income taxes of $3,048,000, net loss attributable to common stockholders of $3,317,000, for the same period a year ago. Adjusted LBITDA was $2,091,000 against adjusted EBITDA of $524,000 a year ago. Basic and diluted loss per common share was $1.17 against $0.76 a year ago. Net cash provided by operating activities was $671,000 against $1,716,000 a year ago. Purchases of property and equipment were $839,000 against $339,000 a year ago.

For the quarter, the company reported impairment of goodwill of $600,000.

The company expects to substantially reduce the loss in 2018 by continuing to deliver operational cost-savings, and driving efficiencies in the business.

Initial results for first quarter of 2018 are indicating an improvement in billings over the prior year's first quarter in total of 4% to $7.6 million, reflecting increased demand from domestic higher education, Japan and EMEA. The company expects to recognize $4.6 million of unearned revenue in the first quarter of fiscal 2018. The company also anticipate a substantial reduction in net loss from the $1.5 million recorded in the prior year's first fiscal quarter.