May 1 Audio chipmaker Audience Inc 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)
UPDATE 2-Loeb's Third Point targets 'staid' Nestle for change
June 25 Activist investor Daniel Loeb's Third Point LLC on Sunday unveiled a more than 1 percent stake in Switzerland's Nestle SA and urged the world's largest packaged foods maker to improve its margins, buy back stock and shed non-core businesses.