Key Developments: Audience Inc (ADNC.OQ)
12.59USD
1 Aug 2013
$-0.01 (-0.08%)
$12.60
$12.58
$12.64
$12.39
108,210
56,383
$19.94
$5.53
Latest Key Developments (Source: Significant Developments)
Audience Inc Issues Q3 2013 Guidance Below Analysts' Estimates
Audience Inc announced that for the third quarter of 2013, it expects total revenue to be in the range of $31 to $34 million, GAAP net loss, which includes $1.5 million of expected stock-based compensation expense and $0.2 million of non-cash rent expense, is expected to be in the range of $3.8 to $4.8 million, or ($0.16) to ($0.20) per diluted share on approximately 23.5 million diluted weighted average shares outstanding, non-GAAP net loss is expected to be in the range of $2.1 to $3.1 million, or ($0.09) to ($0.13) per share on a diluted basis. . According to I/B/E/S estimates analysts' are expecting the Company to report revenues of $45 million and EPS of $0.12 for the third quarter of 2013. Full Article
Audience Inc Issues Q2 2013 Guidance; EPS Guidance Above Analysts' Estimates
Audience Inc announced that for the second quarter of 2013, it expects total revenue to be in the range of $43 to $46 million, GAAP net income, which includes $1.5 million of expected stock-based compensation expense and $0.3 million of non-cash rent expense, is expected to be in the range of $2.1 to $3.1 million, or $0.09 to $0.13 per diluted share on approximately 23.5 million diluted weighted average shares outstanding, non-GAAP net income is expected to be in the range of $3.5 to $4.5 million, or $0.15 to $0.19 per share on a diluted basis. According to I/B/E/S estimates analysts' are expecting the Company to report revenues of $44 million and EPS of $0.13 for the second quarter of 2013. Full Article
Audience Inc Issues Q1 2013 Guidance Above Analysts' Estimates
Audience Inc announced that for the first quarter of 2013, it expects total revenue to be in the range of $43 to $46 million, GAAP net income, which includes $1.1 million of expected stock based compensation expense and $0.7 million of non-cash rent expense, is expected to be in the range of $1.9 to $2.9 million, or $0.08 to $0.12 per diluted share and non-GAAP net income is expected to be in the range of $3.7 to $4.7 million, or $0.15 to $0.19 per share on a diluted basis. According to I/B/E/S estimates analysts' are expecting the Company to report revenues of $31 million and EPS of $0.01 for the first quarter of 2013. Full Article
Audience Inc Issues Q4 2012 Guidance In Line With Analysts' Estimates
Audience Inc announced that for fourth quarter of 2012, it expects total revenue to be in the range of $35-$38 million, GAAP net income to be in the range of $0.8-$1.7 million, or $0.04-$0.08 per diluted share, non-GAAP net income to be in the range of $1.9-$2.8 million, or $0.08-$0.12 per share on a diluted basis. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $35 million and EPS of $0.11 for fourth quarter of 2012. Full Article
Glancy Binkow & Goldberg Files Class Action Lawsuit Against Audience Inc
Glancy Binkow & Goldberg LLP announced that a class action lawsuit has been commenced on behalf of all purchasers of the common stock of Audience Inc pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. Investors who have losses of $100,000 or more are encouraged to contact the firm for information concerning a lead plaintiff position in the class action suit. The Complaint alleges violations of federal securities laws and that the Registration Statement and Prospectus issued in connection with the Company’s initial public offering misrepresented and/or failed to disclose material adverse facts concerning the Company’s business, operations and prospects. On September 6, 2012 the Company disclosed that Apple Inc. (Apple) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched September 21. Apple’s licensing of the Company’s processor intellectual property had accounted for 37% of Audience’s total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%. Full Article
Newman Ferrara LLP Announces Investigation of Audience Inc
Newman Ferrara LLP announced that it is conducting an investigation on behalf of shareholders of Audience Inc (Audience) into potential violations of federal securities laws and breaches of fiduciary duty by Audience and certain of its executive officers and directors. Newman Ferrara`s investigation focuses on whether Audience issued false and/or misleading statements, and failed to disclose material facts, related to its business prospects and financial condition including, among other things, the likelihood that Audience`s earSmart voice and audio processor technology would be licensed to Apple, Inc. for use in its iPhone 5. On September 6, 2012, when Audience first announced that it was now unlikely that its client Apple, Inc. would use Audience`s processor IP technology in its iPhone 5, Audience common stock plummeted 63% in value down to $6.90 per share. Full Article
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Audience Inc
Law Offices of Todd M. Garber announced that a class action lawsuit has been filed in the Superior Court of California, County of Santa Clara, on behalf of a class (the Class) consisting of all purchasers of the common stock of Audience Inc pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. The Complaint alleges violations of the Securities Act of 1933 and further alleges that defendants’ public statements misrepresented and/or failed to disclose material adverse facts concerning the Company’s business, operations and prospects. On September 6, 2012 the Company disclosed that Apple Inc. (“Apple”) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched September 21. Apple’s licensing of the Company’s processor intellectual property had accounted for 37% of Audience’s total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%. Full Article
Faruqi & Faruqi, LLP Announces Investigation Of Potential Securities Fraud At Audience Inc
Faruqi & Faruqi, LLP, a national securities law firm, announced that it is investigating potential securities fraud at Audience Inc. The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that Audience's processor IP would not be selected for use in the iPhone 5. On September 6, 2012, Audience announced that one of the Company's major clients, Apple, Inc., would likely not use Audience's earSmart voice isolation/noise cancellation technology in its iPhone 5. On this news, Audience shares declined 63% to close at $6.90 per share on September 7, 2012. Audience's financial security is strongly dependent on its relationship with Apple. For the fiscal year 2010 Apple represented 82% of Audience's revenue and in fiscal year 2011 Apple represented 75% of Audience's revenue. Full Article
Law Offices of Howard G. Smith Announces Class Action Lawsuit Against Audience Inc
Law Offices of Howard G. Smith announced that a class action lawsuit has been filed in the Superior Court of California, County of Santa Clara, on behalf of a class (the Class) consisting of all purchasers of the common stock of Audience Inc pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with its May 10, 2012 initial public offering. The Complaint alleges violations of the Securities Act of 1933 and further alleges that defendants’ public statements misrepresented and/or failed to disclose material adverse facts concerning the Company’s business, operations and prospects. On September 6, 2012 the Company disclosed that Apple Inc. (“Apple”) was unlikely to use its processor intellectual property in the iPhone 5, which was expected to be launched in the second week of September. Apple’s licensing of the Company’s processor intellectual property had accounted for 37% of Audience’s total revenue for both the three and six months ended June 30, 2012. Following this news, shares of Audience declined almost 60%. Full Article
Robbins Umeda LLP Announces an Investigation of Audience, Inc.
Robbins Umeda LLP announced that it is investigating possible breaches of fiduciary duty and other violations of the law by certain officers and directors of Audience, Inc. Robbins Umeda is investigating whether the Company's officers and directors misrepresented or failed to disclose that Audience's processor IP would not be selected for use in the iPhone 5. In particular, on September 6, 2012, Audience announced that it was unlikely that Apple, Inc. a key client, would use Audience's earSmart voice isolation/noise cancellation technology in its iPhone 5. On this news, Audience shares declined 63% to close at $6.90 per share on September 7, 2012. Audience's financial security is strongly dependent on its relationship with Apple. For the fiscal year 2010 Apple represented 82% of Audience's revenue and in fiscal year 2011 Apple represented 75% of Audience's revenue. Full Article
UPDATE 2-Audience Inc joins list of hurting Samsung suppliers
Aug 1 - Samsung Electronics supplier Audience Inc warned it faces a loss in the current quarter, joining a growing list of component makers that are hurting as sales of the upmarket Galaxy S4 smartphone fall short of expectations.

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