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Posted: 2:35 PM- Fonix corp., a Utah company that markets speech recognition technology, reported revenue of $360,000 for the quarter ended March 31, 2007, an increase of $88,000 over the same period in 2006.
For the quarter, Fonix posted a loss of $787,000, down from $4,504,000 in the first quarter of 2006.
Thomas Murdock, Fonix's chief executive, said the company expects to realize revenue growth throughout 2007.
"The number of products in the market enabled with Fonix speech technology has increased substantially from this time last year," he said. "As manufacturers sell new products and introduce additional products, Fonix expects increasing unit royalty revenue."
Roger Dudley, Fonix's chief financial officer, said in addition to the increased revenue the company also reported another reduction in operating expenses "which we expect will continue to help the company in its goal to reach profitability."
