Through our screening for new natural compounds, four new polyketide metabolites, 7,8-dihydonivefuranone A (1), 6(7)-dehydro-8-hydroxyterrefuranone (2), 8-hydroxyterrefuranone (3), and 6-hydroxyterrefuranone (4) were isolated from the fermentation extract of Microdiplodia sp. KS 75-1, together with the known compounds nivefuranones A (5) and B (6); their structures were determined by spectroscopic (NMR, UV and IR) and MS analysis. Compounds 1, 2, 4 and 5 showed antimicrobial activity against Candida albicans and Staphylococcus aureus.