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ClearOne

ClearOne is a global company that designs, develops and sells conferencing, collaboration, streaming and digital signage solutions for voice and visual communications. The performance and simplicity of its advanced comprehensive solutions offer unprecedented levels of functionality, reliability and scalability.

Model: Versa Lite CT

Versa Lite CT features a USB audio-enabled Beamforming Ceiling Tile microphone that brings cost-effective and superb professional conferencing audio to small-and mid-sized meeting rooms.
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ClearOne Reports 2011 Second Quarter Financial Results
Posted on Tuesday, August 9, 2011
SALT LAKE CITY, UTAH (August 9, 2011) — ClearOne (NASDAQ: CLRO) today reported financial results for the second quarter ended June 30, 2011.
 
For the 2011 second quarter, revenues were a record $11.9 million, compared to $9.9 million for the 2010 second quarter.  Revenue for the 2011 second quarter increased year over year by 20%.
 
Gross profit for the 2011 second quarter increased by 26% to a record $7.2 million, or 60% of revenue, from $5.7 million, or 57% of revenue, for the 2010 second quarter. Operating income increased by a record 260% to $1.9 million from $520,000 for the prior year period. Net income increased by 274% to $1.3 million, or $0.14 per diluted share, from $353,000, or $0.04 per diluted share, for the 2010 second quarter.  Non-GAAP net income increased by 165% to $1.7 million, or $0.18 per diluted share, from $629,000, or $0.07 per diluted share, for the 2010 second quarter.  The reconciliation between GAAP and Non-GAAP net income is available in the tables attached to this release.
 
 For the first six months of 2011, revenue increased 23% to $22.6 million from $18.3 million for the same period of 2010. Gross profit increased by 24% to $13.5 million, or 60% of revenue, from $10.9 million, or 59% of revenue, for the comparable prior year period. Operating income in the first half of 2011 tripled to $3.1 million from $1.0 million during the same six months of 2010. Net income grew by 274% to $2.1 million, or $0.23 per diluted share, versus net income of $570,000, or $0.06 per diluted share, for the comparable prior period.  Non-GAAP net income for the 2011 first half increased by 146% to $2.8 million, or $0.30 per diluted share, from $1.1 million, or $0.13 per diluted share, for the 2010 first half.  The reconciliation between GAAP and Non-GAAP net income is available in the tables attached to this release. 
 
At June 30, 2011, the company had cash and cash equivalents of $12.4 million and no debt.
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