...company files 2004...
Phone: 801-303-3555<br />Fax: 801-303-3350<br />E-mail: investor_relations@clearone.com
SALT LAKE CITY,
December 16,
2005 – ClearOne Communications (OTC: CLRO) announced it has filed its Form 10-K for the fiscal year ended June 30,
2004 with the U.S.
Securities and Exchange Commission.
"The filing of our Form 10-K for the fiscal year ended June 30,
2004 is a significant milestone in our effort to become current in our financial reporting.
We are pleased to have filed a couple of weeks ahead of our anticipated schedule." said Craig Peeples,
Interim Chief Financial Officer of ClearOne.
"Now that the audit for fiscal 2004 has been completed,
we are in the process of preparing our consolidated financial statements for the fiscal year ended June 30,
2005 and are working with our new independent registered public accounting firm,
Hansen,
Barnett & Maxwell,
to assist them in completing their audit of those financial statements.
We now are focusing on completion and filing of the related Form 10-K.
We continue to believe that the filing date of the fiscal 2005 Form 10-K will occur during the next fiscal quarter with the fiscal 2006 Form 10-Q's to be filed shortly thereafter."
It is important to note that in the consolidated financial statements included in the fiscal 2004 Form 10-K,
the results of operations and the financial position of ClearOne's U.S.
audiovisual integration services business component and conferencing services business component have been reclassified as discontinued operations and the assets and liabilities of such components have been presented separately under the captions "assets held for sale" and "liabilities held for sale," respectively.
ClearOne is a communications solutions company that develops and sells audio conferencing systems and other related products for audio,
video,
and web conferencing applications.
The reliability,
flexibility,
and performance of ClearOne's comprehensive solutions create a natural communications environment,
which saves organizations time and money by enabling more effective and efficient communication.
On the Web: www.clearone.com.
Forward-Looking Statements<br /><br />
This release contains "forward-looking" statements that are based on present circumstances and on ClearOne's predictions with respect to events that have not occurred,
that may not occur,
or that may occur with different consequences and timing than those now assumed or anticipated.<span> </span>Such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.
Such forward-looking statements are made only as of the date of this release and ClearOne assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances.
Readers should not place undue reliance on these forward-looking statements.</td>
