Posted by madcityradio.com on March 05, 2009 at 19:17:16:
Sonic Foundry gets $2 million Saudi contract
A $2 million contract to provide Mediasite equipment to a university campus under construction in Saudi Arabia is Sonic Foundry?s biggest deal for 2009, chief executive and chairman Rimas Buinevicius told the company?s annual shareholders meeting at Monona Terrace on Thursday.
The King Abdullah University of Science and Technology will have 150 classrooms equipped with the Madison company?s technology to record lectures and make them available for playback later.
"This will dwarf anything in the U.S.," where universities with the biggest Mediasite investments have about 50 classrooms involved, Buinevicius said.
Buinevicius called 2008 a "nose to the grindstone" year in which the company focused on the education market, worked to develop service contracts, and reduced operating expenses by $4 million a year.
For 2009, Buinevicius said he expects revenue of $18 million to $19 million, a 15 to 20 percent increase over last year.
About 75 people attended the meeting.
? Judy Newman, WSJ
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