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OFFON

ANDREA ELECTRONICS CORPORATION

(ANDR)
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Andrea Electronics delivers again! Andrea Electronics has done it again with the delivery of the DA-250Q, the commercial audio industry's leading industrial strength array microphone platform.

03/15/2021 | 06:01am EST

BOHEMIA, N.Y., March 15, 2021 (GLOBE NEWSWIRE) -- Andrea Electronics Corporation (OTCMKTS: ANDR), Andrea Electronics Corp. (“Andrea”) is the pioneer & leader in providing the industry with digital array microphones and noise reduction software that is best in the industry & greatly enhances the performance and consumer experience of touchless Artificial Intelligence (AI) Natural Language Processing (NLP) conversational computing applications. These innovative array microphone products are designed for the latest generation of ATM platforms that take the entire consumer experience and effectiveness to a new level of productivity.

With all of the changes impacting the consumer/digital interface as a result of current and future market conditions, this latest array microphone technology enhances the audio communications intelligibility designed for the new generation of ATM’s that feature “Interactive Video Teller”, an innovative live customer service component requiring audio clarity in challenging remote walk up and drive thru banking experiences where noise reduction is essential.

The new models provided by leading manufacturers offer a range of advance self-service banking features, including live 24/7 customer service via video conferencing designed to transform and improve the remote banking experience between consumer and ATM interface in the world’s most challenging environments.

Andrea’s new array microphones are designed and engineered with proprietary Digital Beam Forming, Noise Reduction and full duplex Echo Cancellation algorithms optimized to greatly reduce ambient background noise and enhance the clarity and intelligibility of the remote transmission from the speakerphone of personal/consumer communications.

Engineers in Andrea’s customer base have done extensive testing and found that the DA-250Q array microphone products being delivered are the perfect solutions for the new class of touchless commercial interfaces being utilized in what can be noisy public exterior environments.

Andrea’s technology solution has also been designed to function optimally in all-weather conditions with waterproof acoustics rated at the IP68 standard. The unit is engineered to be embedded into free standing and/or wall mounted flat panel displays suitable for ATM’s information and self-service kiosks, smart vending machines, and quick service restaurant drive-thru systems that are now utilizing AI NLP menu/order interfaces.

Douglas Andrea, CEO of Andrea,stated – “We continue to leverage our history of innovation and enhancing the array microphone to serve the changing needs of our customers based on consumer demand. We are excited to launch and deliver this latest chapter of array microphone technology. We look forward to working with engineering teams at many more of the industry’s leading solution providers to improve their current audio capabilities and enable future voice driven applications.”

Throughout its 87-year history, the company has always taken great pride in delivering best of industry solutions within the audio industry. Our focus has been on developing technology that provides our customers with the ability to meet and exceed the need of industrial / commercial platforms in the hyper changing audio innovation arena on a global basis.

About Andrea Electronics
Andrea is a New York based public corporation.
The company designs, develops and manufactures Array Microphone - Speakerphone products for enhancing the performance of Artificial Intelligence (AI) Natural Language Processing (NLP) conversational computing applications. The company's patented Direction Finding and Tracking Array (DFTA), Digital Super Directional Array (DSDA) multi-microphone beam forming, PureAudio noise reduction, EchoStop full-duplex acoustic echo cancellation and Far-Field Enhancement microphone software algorithms focus on the user’s voice and reduce ambient background noise, providing optimal far-field voice input performance for a wide range of voice driven applications. Andrea’s DA-250Q digital array microphone-speakerphone was selected by Airbus for incorporation into CIMON, the first virtual assistant robot with Artificial Intelligence (AI) provided by IBM Watson and is now operating as part of the “Horizons” project on the International Space Station (ISS). Andrea’s audio technologies have been embedded into automated teller machines (ATMs), interactive information customer service kiosks, robots, intercom systems, mass transit buses/trains, police cruisers and over half a billion personal computers.

An American Audio Innovator for over 85 Years
Andrea is an American-owned business founded in 1934. The company introduced one of the first television sets at the 1939 World’s Fair. In the 1950’s the company was known for producing the “Cadillac” of televisions. In the 1960’s the company produced the astronaut capsule audio system for Project Mercury, NASA’s first manned space program. As well as developing and manufacturing avionic intercom systems deployed in military helicopters and high-performance aircraft such as the UH-60 Black Hawk and F-16 Falcon fighter jet.

Forward-Looking Statements
This release contains forward-looking statements that are based upon management’s current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding our recent product developments and future momentum and generally the Company’s expected future financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to market adoption and generally all risks associated with integrating its products into a different technology. Other risks relating to Andrea’s business, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in Andrea’s latest Form 10-Q/K filings with the Securities and Exchange Commission, especially under the heading “Risk Factors.” The forward-looking statements in this release speak only as of this date, and Andrea disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.

Visit Andrea’s website at www.AndreaElectronics.com or call 1-800-707-5779

Media Contact:
Corisa L. Guiffre
Andrea Electronics, Chief Financial Officer
(631) 719-1800
(800) 707-5779

Attachment


Interactive Video Teller

Innovative Live Customer Service

ę GlobeNewswire 2021
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Financials (USD)
Sales 2020 1,36 M - -
Net income 2020 -0,82 M - -
Net Debt 2020 2,24 M - -
P/E ratio 2020 -2,98x
Yield 2020 -
Capitalization 1,84 M 1,84 M -
EV / Sales 2019 1,57x
EV / Sales 2020 3,46x
Nbr of Employees -
Free-Float -
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Income Statement Evolution
Managers and Directors
Douglas J. Andrea Chairman & Secretary
Corisa L. Guiffre Chief Financial Officer, VP & Assistant Secretary
Louis Libin Lead Independent Director
Joseph J. Migliozzi Independent Director
Jonathan D. Spaet Independent Director
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