[新闻] Audience Inc. Shrs Collapse As It Loses Apple iPhone Business

Audience Inc. Shrs Collapse As It Loses Apple iPhone Business
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Shares of Audience Inc. are in full-scale collapse this morning after the provider of voice technology for mobile devicesdisclosed that its technology will not be in the next Apple iPhone. Next Wednesday, Apple is holding a launch event in San Francisco at which the company is widely expected to unveil the iPhone 5.
In an announcement late yesterday, Audience noted that while it sells processors and license its process IP to Apple for use in mobile phones, the company now believes that it its unlikely that Audience’s processor IP will be used in the next Apple phone. The company added that it expects Apple to continue to use the technology in older version of the iPhone.
The company notes that it recognizes royalty revenue one quarter in arrears, so that there will be no impact on Q3 results. Financial results will reflect the bad news after that.
“While we are disappointed by this development, we are confident in the diversification of our business and see sustainable growth in 2012 and beyond,” CEO Peter Santos said in a statement. “As such we are raising guidance for the third quarter of 2012. Looking ahead, we believe our expansion into adjacent markets such as Smart TVs, automotive, and notebooks, will continue to bring growth in 2013 and beyond.”
For Q3, the company now sees revenue of $35 million to $38 million, up from a previous range of $33 million to $36 million. The company GAAP profits of 11-15 cents a share for the quarter, with non-GAAP profits of 14-18 cents a share. But seriously, no one cares about Q3; what matters is the black hole that is Q4 and beyond.
The Mountain View, California-based company went public in May at $17 a share in a deal underwritten by J.P. Morgan, Credit Suisse and Deutsche Bank. This morning, the Street is basically walking away from the stock:
•        Pacific Crest downgrades the stock to Sector Perform from Outperform.
•        Credit Suisse goes to Underperform, from Outperform, cutting its target to $6.80 from $22.50.
•        J.P. Morgan reduced the stock to Neutral from Overweight, with a new target of $10, down from $24.
•        Deutsche Bank drops its rating to Sell from Buy, with a new target of $5, down from $22.
Basically, the company has no friends remaining on the Street – or in Cupertino.
Ergo, ADNC is down $11.75, or 62.3%, to $7.11.


大清早收到的marketing简报，又崩溃了一家，成也Iphone败也Iphone。

[ 本帖最后由 小天猪 于 2012-9-8 08:06 编辑 ]