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Sonic Foundry, Inc. (SOFO) Research Update Released

(August 22, 2014)

Sonic Foundry, Inc. (SOFO) Research Update Released

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New York, NY - August 22, 2014 (www.investorideas.com newswire) Taglich Brothers released an updated research report on Sonic Foundry, Inc. (SOFO) and reiterated a Speculative Buy rating with a 12-month price target of $13.45 per share. The report noted the following key investment considerations:

  • US domestic growth potential is substantial. Only 10,000 out of 225,000 US higher education classrooms are equipped with a comprehensive lecture capture system. Approximately 1,500 US education institutions use SOFOs Mediasite lecture capture recorder technology in 4,100+ classrooms.
  • By our estimates, less than 1% use Mediasite technology out of 17,000+ foreign post-secondary institutions. The University of Leeds in the UK is deploying Mediasite lecture capture and enterprise video content management platforms in FY14.
  • Student demand is driving the lecture capture market. Studies indicate lecture capture improves grades, enriches the learning experience, and increases student recruitment.
  • Student demand is driving the lecture capture market. Studies indicate lecture capture improves grades, enriches the learning experience, and increases student recruitment.
  • In 3Q14 sales (reported 8/14/14) increased 40.6% to $11.3 million due to Mediasite recorders shipment increasing by 60% to 757 units. Income was flat at $33,000 at $0.01 per share. We forecasted sales of $10.6 million and income of $250,000 or $0.06 per share. Sales exceeded our forecast due to more Mediasite recorders shipped than anticipated, while income fell short of expectations due higher than anticipated selling expenses.
  • For FY14, we project EPS of $0.05 per share (prior was $0.09), excluding one-time charges of $1.2 million or $0.28 per share on sales of $38.1 million, up from our prior sales forecast of $37 million. We reduced our EPS forecast due to higher than anticipated selling and marketing expenses.
  • For FY15, we project EPS of $0.88 per share on sales growth of 20% to $45.8 million reflecting 1,915 Mediasite units sold vs. 1,701 in FY14. We anticipate better leveraging of operating costs.

The full report can be viewed at http://www.taglichbrothers.com/equityuniverse/companies/sonicfoundry/sonicfoundry.aspx


Company Description:

Sonic Foundry, founded in 1991 and headquartered in Madison, Wisconsin is a global provider of technology-based webcasting lecture capturing, and knowledge management to higher education institutions, corporations, and government agencies. Its technology is based on Mediasite a patented webcasting platform.

Taglich Brothers:

Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers currently offers institutional and retail brokerage services, investment banking and comprehensive research coverage to the investment community.

The Taglich Brothers' Equity Research department is dedicated to providing research reports that are informative, insightful and illuminating. Reports are designed to distill volumes of investment information into a concise, straightforward format so that busy professional investors can make informed investment decisions.

Disclaimer:

The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. does not currently have an Investment Banking relationship with the company mentioned and was not a manager or co-manager of any offering for the company within the last three years. In September 2012 the company paid an initial monetary engagement fee of US$4,500 to Taglich Brothers, Inc. representing payment for the first three months of creation and dissemination of research reports, after which the company will pay Taglich Brothers, Inc. a monetary fee of US$1,500 per month for a minimum of three more months for such services.For further information and Taglich Brothers, Inc. ownership data please refer to each individual report.

Contact

Richard Oh
Email: press@taglichbrothers.com

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