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    Dennis Van Zelfden

    Research Analyst at Brazos Research

    Dennis Van Zelfden's questions to CLEARONE (CLRO) leadership

    Dennis Van Zelfden's questions to CLEARONE (CLRO) leadership • Q3 2017

    Question

    Dennis Van Zelfden of Brazos Research inquired about the specific litigation expenses for the quarter, the remaining authorization on the share buyback program, the potential revenue impact from competitors infringing on patents, and the expected timeline for returning to growth following the major product transition.

    Answer

    VP of Finance Narsi Narayanan stated that capitalized patent litigation expenses were $845,000 in Q3 and that approximately $4 million remained on the buyback program. CEO Zee Hakimoglu could not quantify the revenue impact from patent infringement but affirmed it was significant enough to warrant litigation. Regarding growth, she indicated that while the company underestimated the product transition's impact, they are looking at 2018 for a return to growth but hesitated to pinpoint a specific quarter.

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    Dennis Van Zelfden's questions to CLEARONE (CLRO) leadership • Q3 2017

    Question

    Dennis Van Zelfden questioned the amount of litigation expenses for the quarter and year-to-date, the remaining authorization on the share buyback program, the potential revenue impact from competitors infringing on patents, and the expected timeline for returning to growth after the product transition.

    Answer

    SVP of Finance Narsi Narayanan reported that capitalized patent litigation expenses were $845,000 in Q3 and that approximately $4 million remained on the buyback program. President and CEO Zeynep Hakimoglu declined to quantify the revenue impact from patent infringement but affirmed its existence. Regarding growth, she stated the company is looking to 2018 but hesitated to pinpoint a specific quarter, acknowledging the product transition was taking longer than initially anticipated.

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    Dennis Van Zelfden's questions to CLEARONE (CLRO) leadership • Q2 2017

    Question

    Dennis Van Zelfden from Brazos Research asked if the extended sales cycle was a surprise, inquired about the status of the ongoing litigation, and questioned if share repurchases included management options.

    Answer

    CEO Zee Hakimoglu acknowledged the sales cycle was longer than hoped and identified the litigation defendants as Shure, Biamp, and QSC, noting the company is bearing the full legal costs. VP of Finance Narsi Narayanan added that the legacy CONVERGE Pro 1 is ramping down faster than expected and confirmed no management options were part of the share buyback.

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