MacNN | Audio chip maker Audience posts $3.1M profit, beats street
Mac News Network View: Standard | Headlines | Categorized | Slim
Mac News Network
Mac News iPod News Reviews Forums
 

Desktop Headlines
Audio chip maker Audience posts $3.1M profit, beats street
Thursday, January 31, 2013 @ 9:30pm

Previous Apple supplier Audience has reported quarterly revenue well above Wall Street's estimates, after it diversified its suppliers beyond the Cupertino manufacturer. Shares climbed 24 percent in after-hours trading following the company reporting that it was expecting revenue between $43 and $46 million in the March quarter, trouncing analyst estimates of $31.8 million. Quarterly profit was $3.1 million, up more than $8 million from 2011's $5.6 million loss.



In September, Audience's stock plummeted 58 percent in a single trading session following news that Apple would drop its noise-filtering chipset in future iPhones. The quarterly report immediately after the news emphasized that Samsung and other mobile device manufacturers could need the technology, and would likely be needed for the company to survive. Audience's stock price has recovered somewhat, but is still only 80 percent of the value before Apple began to reduce shipments from the Mountainview, CA company. Jay Srivatsa, an analyst at Chardan Capital Markets said "most people bought this stock at the IPO because it was an Apple business. But there's life without Apple." "This idea that things stay the way they are -- that Apple has a dominant position -- I think we're seeing early signs that that's not going to be a permanent situation," said Audience CEO Peter Santos. "What they've done and continue to do is great, but the world is much bigger." Samsung now accounts for half of Audience's business. Apple still orders some chips from the company, as the noise reduction technology is still used in the iPhone 4 and 4S, which are still available at retail.

Comments on this Article
Print Friendly Version
Email to a Friend
Add MacNN to Your RSS Feeds
Buy from the Apple Store


Related Stories:

Today's MacNN Stories:

  • Apple raises prices on out-of-warranty iPhone 6 repairs - 1:53 AM EST

    Today's iPodNN Stories:
  • Google to reinvest in YouTube content, expand promotional efforts - 5:39 PM EST
  • Vodafone plans takeover of 140 Phones 4U stores, save 900 jobs - 3:33 PM EST
  • Nokia.com visitors in United Kingdom redirected to Microsoft site - 11:05 AM EST
  • Sony reveals SmartEyeglass headset prototype, releases SDK - 5:53 AM EST
  • Nvidia announces GTX 970, 980 cards with Maxwell GPU architecture - 12:30 AM EST
  • No comments posted on this story yet. Please post yours.
    Your Comments
    In order to post comments, you must be a registered member of the MacNN Forums and logged in. Please login with your MacNN Forums username and password.

    MacNN Forums Login:

    MacNN Forums Password:

    Not a member of the MacNN forums? Register now for free.