UPDATE: Audience Posts Upbeat Q4 Profit, Issues Strong Q1 Forecast
Audience (NASDAQ: ADNC) posted a profit in the fourth quarter.
For the current quarter, Audience projects earnings of $0.15 to $0.19 per share on revenue of $43 million to $46 million. However, analysts expected a profit of $0.01 per share on revenue of $32 million.
Audience posted a quarterly profit of $3.06 million, or $0.14 per share, versus a year-ago loss of $5.64 million, or $5.56 per share. Excluding special items, it earned $0.14 per share.
Its revenue surged to $38.7 million. However, analysts projected earnings of $0.10 per share on revenue of $37 million.
Its gross margin rose to 53.8% from 44.5%.
Audience shares jumped 24.47% to $15.21 in after-hours trading.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.