Mark: it was me, all of my predictions were true :)
trading halted during conference call
Results for Second Quarter 1998
LONG ISLAND CITY, N.Y., July 28 /PRNewswire/ -- Andrea Electronics
Corporation (Amex: AND) today announced revenues for the three months ended
June 30, 1998 of $4.4 million, compared to revenues of $6.1 million in the
same period last year. For the three months ended June 30, 1998, the Company
reported a net loss of $1.9 million, or $0.18 per share, compared to net
income of $678 thousand or $0.08 per share on a fully diluted basis in the
same period last year. For the six months ended June 30, 1998, the Company
reported revenues of $8.8 million, compared to revenues of $11.5 million in
the first six months of 1997. For the six months ended June 30, 1998, the
Company reported a net loss of $1.5 million, or $0.15 per share, compared to
net income of $1.3 million or $0.16 per share on a fully diluted basis.
The primary factors that contributed to the $1.8 million loss for the
second quarter of 1998 include lower than expected sales of the Company's
Active Noise Canceling (ANC) and Noise Canceling (NC) microphone technologies,
increases in research and development activities, increases in
promotional/advertising activities and increases in non-cash charges and
operating expenses related to the acquisition of Lamar Signal Processing, Ltd.
("Lamar").
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