NOVATO -- Software maker Sonic Solutions (Nasdaq: SNIC) reported its second-quarter net loss grew by $2.3 million from a year before, while net revenue decreased by 3 percent.
Second-quarter net revenue of $25.3 million, down from $26.1 million reported for the quarter a year ago.
“Our second quarter results were in-line with our expectations and reflect the strength of our value proposition to our customers,” said Dave Habiger, president and chief executive officer.
Net loss for the second quarter, ended Sept. 30, was $2.6 million, or 8 cents per share, based on 30.8 million weighted-average shares. Net loss in the second quarter last fiscal year was $200,000, or a penny per share for 26.7 million shares.
Quarterly gross profit was $16.4 million, representing a gross margin of 65 percent, compared with $18.0 million and 69 percent last year.
Big factors for the higher second-quarter loss between 2009 and 2010 were a $1.02 million stock warrant, $948,000 in acquisition charges related to the Oct. 7 acquisition of the DivX company and about $400,000 more in stock-based compensation.
The price of Sonic's stock at the close of trading today was $11.09 a share. The price decreased $1 a share, or 8.3 percent, from the closing price Tuesday.
The earnings report was released after the close of trading Tuesday.
