ClearOne: Shares dive as patent infringement woes weigh on Q2

Clearone

10/08/2018 17:13

** Sound equipment developer's shares  CLRO.O  plunge as
much as 27 pct to a nine-year low at $2.45  
    ** Says Q2 hurt by an ongoing infringement of its patented
echo cancellation technology  urn:newsml:reuters.com:*:nPn6d4Nmba
    ** Says the infringement has resulted in slower adoption of
co's next-gen professional audio conferencing platform  
    ** Q2 revenue falls 32 pct; net loss widens to $0.26/shr
from $0.09/shr 
    ** Shares set for biggest one-day pct fall since April 2003 
    ** More than 92.3k shares exchange hands, ~16x times their
25-day moving avg vols
    ** Including session's losses, shares have more than halved
in value YTD

 (Reporting by Shreyashi Sanyal in Bengaluru)
 ((RM: Shreyashi.Sanyal.thomsonreuters.com@reuters.net))