Audience Announces Fourth Quarter and Full Year 2014 Financial Results

                               Audience, Inc.                               
            Reconciliation of GAAP to non-GAAP net income (loss)            
                    (in thousands, except per share data)                   
                                                                            
                                                                            
                             Three months ended       Twelve months ended   
                                December 31,              December 31,      
                          ------------------------  ------------------------
                              2014         2013         2014         2013   
                          -----------  -----------  -----------  -----------
                                                                            
GAAP net income (loss)    $   (45,517) $    (2,921) $   (73,611) $     2,070
Non-GAAP adjustments:                                                       
 Stock-based compensation       2,233        1,465        7,789        5,660
 Impairment of goodwill                                                     
  and intangible assets        31,336            -       31,336            -
 Impairment - related fees                                                  
  and expenses                    107            -          107            -
 Amortization of purchased                                                  
  intangible assets             1,067            -        2,081            -
 Acquisition-related fees                                                   
  and expenses                     66            -        1,264            -
 Restructuring charges             64            -        1,369            -
 Non-cash rent expense              -            -            -          663
 Effective tax rate change      2,140       (1,327)       7,508          374
                          -----------  -----------  -----------  -----------
Non-GAAP net income (loss)$    (8,504) $    (2,783) $   (22,157) $     8,767
                          ===========  ===========  ===========  ===========
                                                                            
                                                                            
                                                    Audience,  Inc.                                                              
      Reconciliation  of  GAAP  to  non-GAAP  diluted  net  income  (loss)  per  share      
                                        (in  thousands,  except  per  share  data)                                      
                                                                                                                                                        
                                                                                                                                                        
                                                          Three  months  ended              Twelve  months  ended      
                                                                December  31,                            December  31,            
                                                    ------------------------    ------------------------
                                                            2014                  2013                  2014                  2013      
                                                    -----------    -----------    -----------    -----------
                                                                                                                                                        
GAAP  net  income  (loss)        $      (45,517)  $        (2,921)  $      (73,611)  $          2,070
Non-GAAP  adjustments:                                                                                                              
  Stock-based  compensation              2,233                1,465                7,789                5,660
  Impairment  of  goodwill                                                                                                          
    and  intangible  assets                31,336                        -              31,336                        -
  Impairment  -  related  fees                                                                                                    
    and  expenses                                        107                        -                    107                        -
  Amortization  of  purchased                                                                                                    
    intangible  assets                          1,067                        -                2,081                        -
  Acquisition-related  fees                                                                                                      
    and  expenses                                          66                        -                1,264                        -
  Restructuring  charges                          64                        -                1,369                        -
  Non-cash  rent  expense                            -                        -                        -                    663
  Effective  tax  rate  change            2,140              (1,327)              7,508                    374
                                                    -----------    -----------    -----------    -----------
Non-GAAP  net  income  (loss)$        (8,504)  $        (2,783)  $      (22,157)  $          8,767
                                                    ===========    ===========    ===========    ===========
                                                                                                                                                        
GAAP  -  diluted  weighted                                                                                                          
  average  shares                                23,173              22,012              22,683              23,197
                                                    ===========    ===========    ===========    ===========
Non-GAAP  -  diluted                                                                                                                    
  weighted  average  shares              23,173              22,012              22,683              23,197
                                                    ===========    ===========    ===========    ===========
                                                                                                                                                        
                                                                                                                                                        
GAAP  -  diluted  net  income                                                                                                      
  (loss)  per  share                  $          (1.96)  $          (0.13)  $          (3.25)  $            0.09
Non-GAAP  adjustments:                                                                                                              
  Stock-based  compensation                0.10                  0.06                  0.34                  0.24
  Impairment  of  goodwill                                                                                                          
    and  intangible  assets                    1.35                        -                  1.38                        -
  Impairment  -  related  fees                                                                                                    
    and  expenses                                      0.01                        -                        -                        -
  Amortization  of  purchased                                                                                                    
    intangible  assets                            0.05                        -                  0.09                        -
  Acquisition-related  fees                                                                                                      
    and  expenses                                            -                        -                  0.06                        -
  Restructuring  charges                            -                        -                  0.06                        -
  Non-cash  rent  expense                            -                        -                        -                  0.03
  Effective  tax  rate  change              0.09                (0.06)                0.34                  0.02
                                                    -----------    -----------    -----------    -----------
Non-GAAP  -  diluted  net                                                                                                            
  income  (loss)  per  share    $          (0.37)  $          (0.13)  $          (0.98)  $            0.38
                                                    ===========    ===========    ===========    ===========
                                                                                                                                                        
                                                                                                                                                        
                                                              Audience,  Inc.                                                              
                        Reconciliation  of  GAAP  to  Non-GAAP  Operating  Results                        
                                                              (in  thousands)                                                              
                                                                  (unaudited)                                                                
                                                                                                                                                        
                                                                Three  months  ended  December  31,  2014                
                                                  --------------------------------------------------  
                                                      Reported  GAAP          Adjustments              Non-GAAP          
                                                  ----------------  ----------------  ----------------  
                                                                                                                                                        
Total  revenue                        $                  17,208  $                            -  $                  17,208  
                                                                                                                                                        
Cost  of  revenue  (1)                                10,129                          (925)                      9,204  
                                                                                                                                                        
                                                  ----------------  ----------------  ----------------  
Gross  profit                                                7,079                            925                        8,004  
                                                                                                                                                        
Total  operating  expenses                                                                                                        
  (2)                                                              52,385                    (33,948)                    18,437  
                                                  ----------------  ----------------  ----------------  
Income  (loss)  from                                                                                                                    
  operations                            $                (45,306)$                  34,873  $                (10,433)
                                                                                                                                                        
                                                                                                                                                        
Income  (loss)  before                                                                                                                
  income  taxes                        $                (45,502)$                  34,873  $                (10,629)
                                                                                                                                                        
Income  tax  provision                                                                                                                
  (benefit)  (3)                                                  15                      (2,140)$                  (2,125)
                                                  ----------------  ----------------  ----------------  
                                                                                                                                                        
Net  income  (loss)                $                (45,517)$                  37,013  $                  (8,504)
                                                  ================  ================  ================  
                                                                                                                                                        
-------------------------                                                                                                      
(1)  For  the  fourth  quarter  of  2014,  adjustments  are  related  to  stock-based    
  compensation  expense  of  $92  and  amortization  of  purchased  intangible  assets
  of  $833  recognized  for  GAAP  purposes.  For  the  fourth  quarter  of  2013,            
  adjustments  are  related  to  stock-based  compensation  expense  of  $79                  
  recognized  for  GAAP  purposes.                                                                                            
(2)  For  the  fourth  quarter  of  2014,  adjustments  are  related  to  stock-based    
  compensation  expense  of  $2,141,  acquisition-related  fees  and  expenses  of      
  $66,  amortization  of  purchased  intangible  assets  of  $234,  impairment  -          
  related  fees  and  expenses  of  $107,  impairment  of  goodwill  and  intangible      
  assets  of  $31,336  and  restructuring  charges  of  $64  recognized  for  GAAP          
  purposes.  For  the  fourth  quarter  of  2013,  adjustments  are  related  to  stock-
  based  compensation  expense  of  $1,386  recognized  for  GAAP  purposes.                  
(3)  Adjustment  reflects  the  tax  effect  from  all  non-GAAP  adjustments  for  the
  periods.                                                                                                                                      

                                                                                                                                                        
                                                                Three  months  ended  December  31,  2013                
                                                  --------------------------------------------------  
                                                      Reported  GAAP          Adjustments              Non-GAAP          
                                                  ----------------  ----------------  ----------------  
                                                                                                                                                        
Total  revenue                        $                  33,141  $                            -  $                  33,141  
                                                                                                                                                        
Cost  of  revenue  (1)                                15,806                            (79)                    15,727  
                                                                                                                                                        
                                                  ----------------  ----------------  ----------------  
Gross  profit                                              17,335                              79                      17,414  
                                                                                                                                                        
Total  operating  expenses                                                                                                        
  (2)                                                              22,237                      (1,386)                    20,851  
                                                  ----------------  ----------------  ----------------  
Income  (loss)  from                                                                                                                    
  operations                            $                  (4,902)$                    1,465  $                  (3,437)
                                                                                                                                                        
                                                                                                                                                        
Income  (loss)  before                                                                                                                
  income  taxes                        $                  (4,944)$                    1,465  $                  (3,479)
                                                                                                                                                        
Income  tax  provision                                                                                                                
  (benefit)  (3)                                          (2,023)                      1,327                          (696)
                                                  ----------------  ----------------  ----------------  
                                                                                                                                                        
Net  income  (loss)                $                  (2,921)$                        138  $                  (2,783)
                                                  ================  ================  ================  
                                                                                                                                                        
-------------------------                                                                                                      
(1)  For  the  fourth  quarter  of  2014,  adjustments  are  related  to  stock-based    
  compensation  expense  of  $92  and  amortization  of  purchased  intangible              
  assets  of  $833  recognized  for  GAAP  purposes.  For  the  fourth  quarter  of          
  2013,  adjustments  are  related  to  stock-based  compensation  expense  of  $79      
  recognized  for  GAAP  purposes.                                                                                            
(2)  For  the  fourth  quarter  of  2014,  adjustments  are  related  to  stock-based    
  compensation  expense  of  $2,141,  acquisition-related  fees  and  expenses  of      
  $66,  amortization  of  purchased  intangible  assets  of  $234,  impairment  -          
  related  fees  and  expenses  of  $107,  impairment  of  goodwill  and  intangible      
  assets  of  $31,336  and  restructuring  charges  of  $64  recognized  for  GAAP          
  purposes.  For  the  fourth  quarter  of  2013,  adjustments  are  related  to              
  stock-based  compensation  expense  of  $1,386  recognized  for  GAAP  purposes.      
(3)  Adjustment  reflects  the  tax  effect  from  all  non-GAAP  adjustments  for        
  the  periods.                                                                                                                              
                                                                                                                                                        
                                                                                                                                                        
                                                            Twelve  months  ended  December  31,  2014                  
                                            ----------------------------------------------------    
                                                Reported  GAAP            Adjustments                Non-GAAP            
                                            ----------------    ----------------    ----------------    
                                                                                                                                                        
Total  revenue                  $                113,340    $                            -    $                113,340    
                                                                                                                                                        
Cost  of  revenue  (1)                          56,572                        (1,965)                      54,607    
                                                                                                                                                        
                                            ----------------    ----------------    ----------------    
Gross  profit                                        56,768                          1,965                        58,733    
                                                                                                                                                        
Total  operating                                                                                                                          
  expenses  (2)                                    128,102                      (41,981)                      86,121    
                                            ----------------    ----------------    ----------------    
Income  (loss)  from                                                                                                                    
  operations                      $                (71,334)  $                  43,946    $                (27,388)  
                                                                                                                                                        
                                                                                                                                                        
Income  (loss)  before                                                                                                                
  income  taxes                  $                (71,643)  $                  43,946    $                (27,697)  
                                                                                                                                                        
Income  tax  provision                                                                                                                
  (benefit)  (3)                                      1,968                        (7,508)  $                  (5,540)  
                                            ----------------    ----------------    ----------------    
                                                                                                                                                        
Net  income  (loss)          $                (73,611)  $                  51,454    $                (22,157)  
                                            ================    ================    ================    
                                                                                                                                                        
----------------------                                                                                                            
(1)  For  the  year  ended  December  31,  2014,  adjustments  are  related  to  stock-  
  based  compensation  expense  of  $338  and  amortization  of  purchased  intangible
  assets  of  $1,627  recognized  for  GAAP  purposes.  For  the  year  ended  December  
  31,  2013,  adjustments  are  related  to  stock-based  compensation  expense  of      
  $305  recognized  for  GAAP  purposes.                                                                                  
(2)  For  the  year  ended  December  31,  2014,  adjustments  are  related  to                
  impairment  of  goodwill  and  intangible  assets  of  $31,336,  stock-based              
  compensation  expense  of  $7,451,  acquisition-related  fees  and  expenses  of      
  $1,264,  amortization  of  purchased  intangible  assets  of  $454,  impairment  -    
  related  fees  and  expenses  of  $107,  and  restructuring  charges  of  $1,369          
  recognized  for  GAAP  purposes.  For  the  year  ended  December  31,  2013,                
  adjustments  are  related  to  stock-based  compensation  expense  of  $5,355  and    
  non-cash  rent  expense  of  $663  recognized  for  GAAP  purposes.                                
(3)  Adjustment  reflects  the  tax  effect  from  all  non-GAAP  adjustments  for  the
  periods.                                                                                                                                      

                                                                                                                                                        
                                                                                                                                                        
                                                              Twelve  months  ended  December  31,  2013                
                                            ------------------------------------------------------
                                                Reported  GAAP            Adjustments                    Non-GAAP        
                                            -----------------  -----------------    -----------------
                                                                                                                                                        
Total  revenue                  $                  160,131  $                              -    $                  160,131
                                                                                                                                                        
Cost  of  revenue  (1)                            71,267                            (305)                        70,962
                                                                                                                                                        
                                            -----------------  -----------------    -----------------
Gross  profit                                          88,864                              305                          89,169
                                                                                                                                                        
Total  operating                                                                                                                          
  expenses  (2)                                        84,602                        (6,018)                        78,584
                                            -----------------  -----------------    -----------------
Income  (loss)  from                                                                                                                    
  operations                      $                      4,262  $                      6,323    $                    10,585
                                                                                                                                                        
                                                                                                                                                        
Income  (loss)  before                                                                                                                
  income  taxes                  $                      4,139  $                      6,323    $                    10,462
                                                                                                                                                        
Income  tax  provision                                                                                                                
  (benefit)  (3)                                        2,069                            (374)                          1,695
                                            -----------------  -----------------    -----------------
                                                                                                                                                        
Net  income  (loss)          $                      2,070  $                      6,697    $                      8,767
                                            =================  =================    =================
                                                                                                                                                        
----------------------                                                                                                            
(1)  For  the  year  ended  December  31,  2014,  adjustments  are  related  to  stock-  
  based  compensation  expense  of  $338  and  amortization  of  purchased  intangible
  assets  of  $1,627  recognized  for  GAAP  purposes.  For  the  year  ended  December  
  31,  2013,  adjustments  are  related  to  stock-based  compensation  expense  of      
  $305  recognized  for  GAAP  purposes.                                                                                  
(2)  For  the  year  ended  December  31,  2014,  adjustments  are  related  to                
  impairment  of  goodwill  and  intangible  assets  of  $31,336,  stock-based              
  compensation  expense  of  $7,451,  acquisition-related  fees  and  expenses  of      
  $1,264,  amortization  of  purchased  intangible  assets  of  $454,  impairment  -    
  related  fees  and  expenses  of  $107,  and  restructuring  charges  of  $1,369          
  recognized  for  GAAP  purposes.  For  the  year  ended  December  31,  2013,                
  adjustments  are  related  to  stock-based  compensation  expense  of  $5,355  and    
  non-cash  rent  expense  of  $663  recognized  for  GAAP  purposes.                                
(3)  Adjustment  reflects  the  tax  effect  from  all  non-GAAP  adjustments  for  the
  periods.                                                                                                                                      
                                                                                                                                                        
                                                                                                                                                        
                                                              Audience,  Inc.                                                              
    Reconciliation  of  estimated  GAAP  to  non-GAAP  diluted  net  loss  per  share      
                                                                (unaudited)                                                                  
                                                                                                                                                        
                                                                                                                          Three  months      
                                                                                                                                ending            
                                                                                                                        March  31,  2015    
                                                                                                                      ----------------  
                                                                                                                                                        
                                                                                                                              ($0.68)  -        
Estimated  GAAP  diluted  net  loss  per  share                                              ($0.76)          
Estimated  stock-based  compensation  expense  per  share                          $0.09            
Estimated  amortization  of  intangible  assets  per  share                        $0.04            
Estimated  effective  tax  change  per  share                                          $0.11  -  $0.13    
                                                                                                                      ----------------  
                                                                                                                              ($0.44)  -        
Estimated  Non-GAAP  diluted  net  loss  per  share                                      ($0.50)          
                                                                                                                      ================  
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
 

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