ClearOne Q1 2023 results pressured by manufacturing transition; declares $1.00 special dividend

CLEARONE INC

2023-Q1 EPS reported -$0.03 revenue$4,178,000

Special cash dividend of $1.00 per share payable May 31, 2023; record May 22; ex-div June 1; cash outflow ~$29M.
Q1 revenue pressured by ongoing shift of outsourced manufacturing from China to Singapore; H2 improvement expected.
CEO reports focus on leaner cost structure, growing backlog for core audio products, and new CHAT 150 BT/UNITE 260 Pro launches.
Specific revenue and EPS figures for Q1 not provided in this filing excerpt; full press release referenced as Exhibit 99.1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CLEARONE INC reported financial results for three month period ended March 31, 2023.

Period: three month period ended March 31, 2023
Result: reported results

Exact text from the filing

On May 16, 2023 ClearOne, Inc. (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2023.

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Source: SEC EDGAR

accession 0001753926-23-000716

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