Salt Lake-based Fonix Corp., a telecommunications and speech technologies company, on Wednesday reported falling revenues and increasing net losses in the third quarter of 2005.
Revenues for the quarter ended Sept. 30 were $3.96 million, down $469,000 from the same quarter one year ago. Operating expenses, excluding non-cash amortization, decreased $313,000 to $4.09 million. The company's net loss was $6.5 million, or 2 cents per common share for the quarter, nearly double the $3.3 million loss for the same period in 2004.
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Pointing to challenges presented by "telecom regulatory pressures," Fonix said it nevertheless expects improved revenues in coming quarters as royalties due the company increase.