ClearOne (CLRO) Posts Mixed Preliminary FY11 Results
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Price: $5.34 -4.3%
Financial Fact:
Earnings per share - Basic: 0.14
Today's EPS Names:
BTTX, VAXX, ELYS, More
Financial Fact:
Earnings per share - Basic: 0.14
Today's EPS Names:
BTTX, VAXX, ELYS, More
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ClearOne (Nasdaq: CLRO) reports preliminary financial results for the year ended December 31, 2011.
For the 2011 full year, revenue increased 12% to $46.1 million from $41.3 million for 2010. Gross profit rose 12% to $27.6 million, or 60% of revenue, from $24.6 million, or 60% of revenue, for the prior year. Operating income climbed to $10.6 million from $1.8 million for the prior year. Net income more than doubled to $6.9 million, or $0.75 per diluted share, from $2.4 million, or $0.27 per diluted share, for 2010.
The Street was looking for revs of $47.2 million and EPS of 55 cents.
Financial results for 2011 included a favorable judgment award of $3.7 million related to litigation against Biamp Systems Corp. for theft of ClearOne trade secrets. At December 31, 2011, the company had cash and cash equivalents of $16.7 million, and no debt.
For the 2011 full year, revenue increased 12% to $46.1 million from $41.3 million for 2010. Gross profit rose 12% to $27.6 million, or 60% of revenue, from $24.6 million, or 60% of revenue, for the prior year. Operating income climbed to $10.6 million from $1.8 million for the prior year. Net income more than doubled to $6.9 million, or $0.75 per diluted share, from $2.4 million, or $0.27 per diluted share, for 2010.
The Street was looking for revs of $47.2 million and EPS of 55 cents.
Financial results for 2011 included a favorable judgment award of $3.7 million related to litigation against Biamp Systems Corp. for theft of ClearOne trade secrets. At December 31, 2011, the company had cash and cash equivalents of $16.7 million, and no debt.
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