Sonic Solutions (SNIC) reported third quarter net loss of $344 thousand or $0.01 per share, compared to a net loss of $111.12 million or $4.27 per share last year.
Non-GAAP net income was $830 thousand or $0.03 per share compared to a loss of $2.23 million or $0.09 per share last year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue decreased to $26.39 million from $26.53 million last year. Non-GAAP revenue for the quarter was $26.46 million, down from $26.53 million in the previous year. Analysts expected revenue of $25.12 million for the quarter.
For the fourth quarter, the Company anticipates revenues of at least $26 million. Analysts predict the company to report revenues of $26.57 million for the fourth quarter. The company estimates that gross margins for the fourth quarter will be slightly lower and operating expenses will be relatively flat on a sequential basis.
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