Sonic Foundry Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2011. Revenues were $6.2 million, up 4% from $5.9 million for the fiscal first quarter of 2011. GAAP net loss was $184,000 or $0.05 per basic and diluted share, compared to net income of $223,000 or $0.06 per basic and diluted share in the fiscal first quarter of 2011. Non-GAAP net loss of $164,000 or $0.04 per basic share compared to non-GAAP net income of $287,000 or $0.08 per basic share in the first quarter of fiscal 2011. Loss from operations was $72,000 against income from operations of $346,000 a year ago. Loss before income taxes was $124,000 against income before income taxes of $283,000 a year ago. The company is optimistic about its performance in 2012 and reaffirm its guidance of 17% billings growth.