ClearOne Q1 2024 revenue down 13% YoY; microphone revenue up 31%; declares $0.50 special dividend

CLEARONE INC

2024-Q1 EPS reported -$0.08 revenue$3,622,000

Revenue declined 13% YoY and 12.8% sequentially; audio conferencing category drove decrease.
Microphone revenue up 31% YoY and 4% sequentially; Asia revenue up 18% YoY.
Operating expenses down 7.8% YoY and 2.7% sequentially from cost optimization.
Declared one-time special cash dividend of $0.50 per share, paid April 10, 2024.
Regained NASDAQ minimum bid compliance; CEO warns revenue may be impacted through Q2 2024.

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