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

NOVATO Novato (nōvä`tō), residential city (1990 pop. 47,585), Marin co., W Calif., N of San Fransisco on San Pablo Bay; inc. 1960. In a farming and dairying area, it produces cosmetics, metal products, telephone apparatus, lumber, and wiring , Calif.--(BUSINESS WIRE)--Feb. 1, 1996--Sonic Solutions (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
: SNIC SNIC Singapore National Institute of Chemistry
SNIC Snow and Ice Clearance
SNIC Sub-Network Independent Convergence (functions)
SNIC Standard Network Interface Card
) today announced that net revenue was $3,445,000 for the third quarter ended December December: see month.  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 Robert, Henry Martyn 1837-1923.

American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876).

Noun 1.
 J. Doris Doris, small mountainous district, central Greece, inland between the Gulf of Corinth and the Malian Gulf. It was the traditional homeland of the Dorians, who may, in fact, have paused there during their invasion of Greece. , 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 di·vert  
v. di·vert·ed, di·vert·ing, di·verts
1. To turn aside from a course or direction: Traffic was diverted around the scene of the accident.

 our field organization, depressing revenue levels for the quarter. However, we believe that the effort we expended ex·pend  
tr.v. ex·pend·ed, ex·pend·ing, ex·pends
1. To lay out; spend: expending tax revenues on government operations. See Synonyms at spend.

 has substantially solidified so·lid·i·fy  
v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies
1. To make solid, compact, or hard.

2. To make strong or united.

 our position, permitting us to focus in future quarters on delivering new capabilities and products to our customers."

Sonic Solutions Sonic Solutions NASDAQ: SNIC is a digital media company based in Novato, California, USA. It was created in 1986 by former Lucasfilm employees who developed the AudioDroid digital audio editing system as part of the Droidworks project.  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 A digital audio workstation (DAW) is a system designed to record, edit and play back digital audio. A key feature of DAWs is the ability to freely manipulate recorded sounds, much like a word processor manipulates typed words. , 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 desktop publishing, system for producing printed materials that consists of a personal computer or computer workstation, a high-resolution printer (usually a laser printer), and a computer program that allows the user to select from a variety of type fonts and sizes, . -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

  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
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


CONTACT: Sonic Solutions

A. Clay Leighton Leighton is the name of a number of places:
  • Leighton, Alabama
  • Leighton, Iowa
  • Leighton Township, Michigan
  • Leighton, Cambridgeshire
  • Leighton, Cheshire
  • Leighton, North Yorkshire
  • Leighton Reservoir- a small reservoir near Leighton North Yorkshire.
, 415/893-8000
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Publication:Business Wire
Date:Feb 1, 1996
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