Seeking Alpha

Audience tumbles after restating Q4/2013 figures

  • Audience (ADNC -13.4%) has revised a slew of Q4 and 2013 income statement numbers, as well as several year-end balance sheet figures. (8-K)
  • Some of the changes: Audience's Q4 net loss was $0.13/share instead of $0.11/share; Q4 hardware revenue was $31,109 instead of $31,529; Q4 gross margin was 52.3% instead of 53.2%; year-end inventories totaled $13,422 instead of $13,581; and year-end accounts receivable totaled $5,670 instead of $6,091.
  • CFO Kevin S. Palatnik could face some scrutiny over the revisions.
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Comments (2)
  • eigenman
    , contributor
    Comments (120) | Send Message
     
    It's not a restatement. The 8K was amended. No financial reports were changed and the 10K was on time. Same thing happened last year except the revision was upwards.
    Revised yes, restated no. Change the title of this article. It's false.
    17 Mar 2014, 12:36 PM Reply Like
  • eigenman
    , contributor
    Comments (120) | Send Message
     
    Here's last year's revision: http://1.usa.gov/1gHDMrS

     

    They do this every year. Last year was a revise up.
    17 Mar 2014, 09:49 PM Reply Like
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