CLEARONE INC — Earnings Release 2017

Mar 14, 2017

8-K 1 form8-k.htm

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT

TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): March 14, 2017

ClearOne, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Utah

(State or Other Jurisdiction of Incorporation)

Utah	001-33660	87-0398877
(State
or other jurisdiction of
incorporation)	(Commission File
Number)	(I.R.S.
Employer Identification
No.)

| 5225
Wiley Post Way, Suite 500 Salt
Lake City, Utah | 84116 |
| --- | --- |
| (Address
of principal executive offices) | (Zip
Code) |

+1 (801) 975-7200

(Registrant’s Telephone Number, Including Area Code)

Not applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| [ ] | Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| --- | --- |
| [ ] | Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement
communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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Item 2.02. Results of Operations and Financial Condition

On March 14, 2017, ClearOne, Inc. (the “Company”) issued a press release announcing its financial results for the three and twelve months ended December 31, 2016. The full text of the press release is attached as Exhibit 99.1.

Item 8.01. Other Events

On March 14, 2017, the Company announced that the Company’s Board of Directors has renewed and extended the Company’s stock repurchase program for up to an additional $10 million of the Company’s outstanding shares of common stock over the next twelve months ending on March 8, 2018. Under the program, repurchases may be made from time to time in open market or privately negotiated transactions or through an accelerated share repurchase program, in each case to be executed at management’s discretion based on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. The repurchase program may be suspended or discontinued at any time.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

| Exhibit
No. | Description |
| --- | --- |
| Exhibit
99.1 | Press
Release dated March 14, 2017 titled “ClearOne Reports Fourth Quarter and Full-Year 2016 Financial Results ”. |

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

| /s/
Zeynep Hakimoglu |
| --- |
| Zeynep
Hakimoglu Chief
Executive Officer (Principal
Executive Officer) |

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