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Sonic Solutions Reports Third Quarter Results For Quarter Ending Dec. 31, 1995.

NOVATO, Calif.--(BUSINESS WIRE)--Feb. 1, 1996--Sonic Solutions (NASDAQ: SNIC) today announced that net revenue was $3,445,000 for the third quarter ended December 31, 1995, compared to $5,317,000 for the same period in the prior fiscal year. Net loss for the quarter totaled $540,000 down from the net income of $775,000 earned in the third quarter of last year.

Net revenue was $11,443,000 for the nine months ended December 31, 1995, compared to $15,385,000 for the same period in the prior fiscal year. Net loss for the nine month period totaled $1,213,000, compared to net income of $2,257,000, earned in the same nine month period of last year.

Commenting on the results, Robert J. Doris, President, said, "During the December quarter we made considerable progress in retrofitting and restaging Sonic Systems based on our new Ultra-Sonic Processor. This activity continued to divert our field organization, depressing revenue levels for the quarter. However, we believe that the effort we expended has substantially solidified our position, permitting us to focus in future quarters on delivering new capabilities and products to our customers."

Sonic Solutions designs and manufactures tools to assist audio and other multimedia professionals in preparing music, video, film, graphics, and other entertainment software. The Sonic System, the Company's professional digital audio workstation, is used around the world by audio professionals to prepare recorded sound for release on Digital Audio Compact Disc, for inclusion in film and video soundtracks, and for broadcast on radio and television. The Company's MediaNet product is a high speed local area network optimized for management of data intensive file transfers typically required in digital video, digital audio, computer graphics, and desktop publishing. -0- Note to Editors: Sonic Solutions (SNIC) is publicly traded on NASDAQ. Trademarks and registered trademarks are the property of their respective owners.
 Sonic Solutions
 Condensed Statements of Operations
 (In thousands, except per share amounts)


 Three Months Ended Nine Months Ended
 Dec. 31, Dec. 31,
 1995 1994 1995 1994
 (unaudited) (unaudited)


Net revenue $3,445 $5,317 $11,443 $15,385
Cost of revenue 1,651 1,939 5,561 5,567


Gross profit 1,794 3,378 5,882 9,818


Operating expenses:
 Marketing and sales 1,611 1,306 4,432 3,770
 Research and development 695 646 2,005 1,760
 General and administrative 362 373 1,443 1,189


Total operating expenses 2,668 2,325 7,880 6,719
Operating income (874) 1,053 (1,998) 3,099




Other income 43 75 130 218


 Income before
 income taxes (831) 1,128 (1,868) 3,317


 Provision
 for income taxes (291) 353 (655) 1,060


 Net income ($540) $775 ($1,213) $2,257
 Net income per share (0.07) 0.10 (0.16) 0.29


Shares used in computing
 net (loss) income per share 7,466 7,763 7,452 7,725




 Sonic Solutions
 Condensed Balance Sheets
 (in thousands)


 Dec. 31, March 31,
 1995 1995
 (unaudited)
Assets
Current assets:
 Cash, cash equivalents and investments $ 4,285 $ 7,896
 Accounts receivable, net of allowance
 for returns and doubtful accounts
 of $1,080 and $810, at Dec. 31,
 1995 and March 31, 1995, respectively 5,577 6,606
 Inventory 2,656 2,767
 Prepaid expenses and other current
 assets 1,437 583
 Deferred tax benefit 742 742


 Total current assets 14,697 18,594


Fixed assets, net 2,295 1,686
Purchased and internally developed
 software costs, net 1,270 921
Other assets 537 511


 Total assets $18,799 $21,712




 Liabilities and Shareholders' Equity


Current Liabilities:
 Accounts payable and accrued
 liabilities $ 2,759 $ 4,470
 Deferred revenue and deposits 481 558
 Income taxes payable 15 37




 Total current liabilities 3,255 5,065


Deferred income taxes 315 315


Shareholders' equity:
 Common stock 13,101 12,990
 Retained earnings 2,125 3,338
 Unrealized (loss) gain on investments 3 4


 Total shareholders' equity 15,229 16,332


 Total liabilities and
 shareholders' equity $18,799 $21,712


-0-


CONTACT: Sonic Solutions

A. Clay Leighton, 415/893-8000
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Publication:Business Wire
Date:Feb 1, 1996
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