Financial Status
Throughout its over 22-year history, e.Digital / Norris Communications continuously lost money. The accumulated deficit at March 31, 2010 was $80 million. Although the company reported its first annual profit for its fiscal year ending March 31, 2009 due to settlements with six of eight defendants of its patent infringement lawsuits which resulted in one-time licensing fees totalling $10.1 million, the company returned to an unprofitable status in fiscal year 2010, posting a net loss of $985,000. Revenue for products totalled $205,000 with service revenue totalling $749,000. Patent infringement settlement income totalled $1,600,000 for total revenue of $2,554,000.
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