Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
About Audience
Audience is the leader in advanced voice and audio processing for mobile devices. Its family of earSmart™ intelligent voice processors is based on the processes of human hearing, to suppress background noise and enhance mobile voice quality. Audience's technology substantially improves the mobile voice experience, while also improving the performance of speech-based services, and enhancing audio quality for multimedia. Audience earSmart™ processors are featured in mobile devices from leading providers in Asia-Pacific, Europe and the U.S. The company is based in Mountain View, California. For more information, see www.audience.com.
ADNC-F
Audience, Inc. Condensed consolidated balance sheets (in thousands) (unaudited) December 31, December 31, 2012 2011 ------------ ------------AssetsCurrent assets: Cash and cash equivalents $ 109,606 $ 15,983 Restricted cash - 40 Marketable securities 18,032 - Accounts receivable, net 12,926 8,465 Inventories 13,266 20,242 Prepaid expenses and other current assets 3,669 2,659 ------------ ------------ Total current assets 157,499 47,389Property and equipment, net 11,801 2,237Other noncurrent assets 1,009 69Restricted cash - noncurrent portion 170 170 ------------ ------------ Total assets $ 170,479 $ 49,865 ============ ============Liabilities, convertible preferred stock and stockholders' equity (deficit)Current liabilities: Equipment leasing $ - $ 103 Accounts payable 9,745 7,711 Accrued and other current liabilities 9,228 4,405 Deferred credits and income 285 474 Financing obligation for construction in progress 5,290 - ------------ ------------ Total current liabilities 24,548 12,693Deferred rent - noncurrent portion - 132Convertible preferred stock warrant liability - 1,137Taxes payable - noncurrent 376 - ------------ ------------ Total liabilities 24,924 13,962 ------------ ------------Convertible preferred stock - 74,348Stockholders' equity (deficit):Preferred stock - -Common stock 21 1Additional paid-in capital 172,461 3,732Accumulated other comprehensive income (loss) 3 (31)Accumulated deficit (26,930) (42,147) ------------ ------------ Total stockholders' equity (deficit) 145,555 (38,445) ------------ ------------Total liabilities, convertible preferred stock and stockholders' equity (deficit) $ 170,479 $ 49,865 ============ ============
