AND...Andrea Electronics...use to be high flyer on Amex..now at .75....this today:
(COMTEX) B: Andrea Electronics Corporation Lands $1 Million Annual Licen
B: Andrea Electronics Corporation Lands $1 Million Annual License Deal with
Leading Semiconductor Company
MELVILLE, N.Y., Dec 20, 2001 /PRNewswire via COMTEX/ -- Andrea Electronics
Corporation (Amex: AND) announced today that it has signed an agreement with a
leading semiconductor company for the license of Andrea Electronics'
PureAudio(R) digital noise canceling algorithm for use with embedded PC market
product offerings.
Based on the terms of the agreement, Andrea will receive an annual royalty fee
of $1 million dollars. The agreement states that Andrea and its partner will,
together, market Andrea Electronics' Digital Super Directional Array (DSDA(R))
and EchoStop(TM) algorithms, as well as Andrea Electronics' hardware solutions
to leading PC OEMs, worldwide. Additional details regarding the agreement will
be released at a later date.
"We are excited about this strategic relationship, as it provides both an
immediate source of revenue, as well as a tremendous distribution channel for
our technologies and products," said Christopher P. Sauvigne, President and
Chief Executive Officer of Andrea Electronics. "As evidenced by the recently
released Windows XP operating system, speech enabled applications are clearly
gaining momentum and, together with our partner, we will enable consumers to
experience superior, untethered microphone performance at previously
unattainable price points."
Andrea Electronics' patented PureAudio noise-canceling algorithm enhances
applications that are controlled by speech. By sampling the ambient noise in an
environment and attenuating the noise from sources near or around the desired
speech signals, PureAudio delivers a clear audio signal. Designed specifically
to improve the signal-to-noise ratio, PureAudio is effective in canceling
stationary noises such as computer fans, tires and other unwanted noises.
About Andrea Electronics:
Andrea Electronics Corporation designs, develops and manufactures audio
technologies and equipment for enhancing applications that require high
performance and high quality voice input. The Company's patented Digital Super
Directional Array (DSDA(R)), patent-pending Directional Finding and Tracking
Array (DFTA(TM)), patented PureAudio(R), and patented EchoStop(TM) far-field
microphone technologies enhance a wide range of audio products to eliminate
background noise and ensure the optimum performance of voice applications.
Applications for the Company's technologies include: speech recognition
programs, Internet telephony, video/audio conferencing, automobile PCs, home
automation systems, hand-held devices and multiplayer online games, among
others. Visit Andrea Electronics' websites at andreaelectronics.com
or call 1-800-442-7787.
This press release may contain "forward-looking statements" within the meaning
of the Private Securities Litigation Reform Act of 1995 and within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The words "anticipates,"
"believes," "estimates," "expects," "intends," "plans," "seeks," variations of
such words, and similar expressions are intended to identify forward-looking
statements. These statements are not guarantees of future performance and
involve matters that are subject to certain risks, uncertainties and assumptions
that are difficult to predict, including economic, competitive, governmental,
technological and other factors, that may affect the business and prospects of
Andrea Electronics Corporation and Net2Phone, Inc. (collectively the
"Companies"). For this purpose, any statements contained in this press release
that are not statements of historical fact may be deemed to be forward-looking
statements. Factors which may affect the Companies' results include, but are not
limited to, the Companies' abilities to expand their customer base, the
Companies' abilities to develop additional and leverage existing distribution
channels for their products and solutions, dependence on strategic and channel
partners including their abilities to distribute the Companies' products and
meet or renew their financial commitments, the Companies' abilities to address
international markets, the effectiveness of the Companies' sales and marketing
activities, the acceptance of the Companies' products in the marketplace, the
timing and scope of deployments of the Companies' products by customers,
fluctuations in customer sales cycles, customers' ability to obtain additional
funding, technical difficulties with respect to the Companies' products or
products in development, the need for ongoing product development in an
environment of rapid technological change, the emergence of new competitors in
the marketplace, the Companies' abilities to compete successfully against
established competitors with greater resources, the uncertainty of future
governmental regulation, the Companies' abilities to manage growth, obtain
patent protection, and obtain additional funds, general economic conditions and
other risks discussed in this Report and in the Companies' other filings with
the Securities and Exchange Commission. All forward-looking statements and risk
factors included in this document are made as of the date hereof, based on
information available to the Companies' as of the date thereof, and the
Companies' assume no obligation to update any forward-looking statement or risk
factors.
At Andrea Electronics
Richard A. Maue
Chief Financial Officer
Lauren Rivera
Marketing Communications Manager
800-447-7787
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SOURCE Andrea Electronics Corporation
CONTACT: Richard A. Maue, Chief Financial Officer, or Lauren Rivera,
Marketing Communications Manager, +1-800-447-7787, Andrea Ele
tronics
/Company News On-Call: prnewswire.com
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URL: andreaelectronics.com
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Copyright (C) 2001 PR Newswire. All rights reserved.
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KEYWORD: New York
INDUSTRY KEYWORD: CPR
HRD
SUBJECT CODE: LIC
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