Audience revenue slumps on weak audio chip sales to phone makers
(Reuters) - Audio chipmaker Audience Inc (ADNC.O) reported a 23.5 percent fall in quarterly revenue and posted a loss for the third consecutive quarter, hurt by weak sales to smartphone makers.
The company reported a loss of $7.2 million, or 32 cents per share, in the first quarter ended March 31 compared with a profit of $4.6 million or 20 cents per share, a year earlier.
Revenue fell to $36.1 million from $47.2 million.
Audience makes chips that improve voice quality in mobile devices by filtering out background noise.
(Reporting by Aurindom Mukherjee in Bangalore; Editing by Savio D'Souza)