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Andrea Electronics Corporation designs, develops and manufactures audio technologies and equipment for enhancing applications requiring high performance quality voice input. The company's patented Digital Super Directional Array (DSDATM), patented PureAudioTM and patented EchoStopTM far-field microphone technologies enhance a wide range of audio products to eliminate background noise and ensure the optimum performance of voice applications. Visit Andrea Electronics' website at www.AndreaElectronics.com or call 1-800-442-7787. http://www.ariva.de/news/...otect-Its-Beam-Forming-Technology-5146834

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ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS biz.yahoo.com/e/150520/andr10-q.html

Our mission is to provide the emerging "voice interface" markets with state-of-the-art digital microphone products and noise reduction software that facilitate natural language, human/machine interfaces.

Examples of the applications and interfaces for which Andrea DSP Microphone and Audio Software Products and Andrea Anti-Noise Products provide benefits include:
Internet and other computer-based speech; telephony communications; multi-point conferencing; speech recognition; and other applications and interfaces that incorporate natural language processing. We believe that end users of these applications and interfaces will require high quality microphone and earphone products that enhance voice transmission, particularly in noisy environments, for use with personal computers, mobile personal computing devices, cellular and other wireless communication devices and automotive communication systems. Our Andrea DSP Microphone and Audio Software Products use "far-field" digital signal processing technology to provide high quality transmission of voice where the user is at a distance from the microphone. High quality audio communication technologies will be required for emerging far-field voice applications, ranging from continuous speech dictation, to Internet telephony and multiparty video teleconferencing and collaboration, to natural language-driven interfaces for automobiles, home and office automation and other machines and devices into which voice-controlled microprocessors are expected to be introduced during the next several years. biz.yahoo.com/e/150520/andr10-q.html

Our unaudited condensed consolidated interim financial statements and the notes to our unaudited condensed consolidated interim financial statements contain information that is pertinent to management's discussion and analysis. The preparation of unaudited condensed consolidated interim financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. On a continual basis, management reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results may vary from these estimates and assumptions under different and/or future circumstances. Our significant accounting policies are described in Note 2 of the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2014. A discussion of our critical accounting policies and estimates are included in Management's Discussion and Analysis or Plan of Operation in our Annual Report on Form 10-K for the year ended December 31, 2014. Management has discussed the development and selection of these policies with the Audit Committee of the Company's Board of Directors, and the Audit Committee of the Board of Directors has reviewed the Company's disclosures of these policies. There have been no material changes to the critical accounting policies or estimates reported in the Management's Discussion and Analysis section of the Annual Report on Form 10-K for the year ended December 31, 2014. biz.yahoo.com/e/150520/andr10-q.html

Regarding Forward-Looking Statements biz.yahoo.com/e/150520/andr10-q.html

This report contains forward-looking statements that are based on assumptions and may describe future plans, strategies and expectations of the Company. These forward-looking statements are generally identified by use of the words "believe", "expect", "intend", "anticipate", "estimate", "project" or similar expressions. The Company's ability to predict results or the actual effect of future plans or strategies is inherently uncertain. Factors which could have a material adverse effect on the operations of the Company and its subsidiaries include, but are not limited to, changes in economic, competitive, governmental, technological and other factors that may affect our business and prospects. Additional factors are discussed below under "Risk Factors" and in Part I, "Item 1A - Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2014. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company does not undertake, and specifically disclaims any obligation, to release publicly the result of any revisions that may be made to any forward-looking statements to reflect events or circumstances after the date of the statements or to reflect the occurrence of anticipated or unanticipated events. biz.yahoo.com/e/150520/andr10-q.html

Cost of revenues as a percentage of net revenues for the three months ended March 31, 2015 decreased to 10% from 12% for the three months ended March 31, 2014. This decrease in cost of revenues as a percentage of revenues for Andrea DSP Microphone and Audio Software Products for the three months ended March 31, 2015 is a result of increased licensing revenues. biz.yahoo.com/e/150520/andr10-q.html

Patent monetization expenses for the three months ended March 31, 2015 increased 199% to $1,008,352 from $337,060 for the three months ended March 31, 2015. These expenses are a result of our continuing efforts to pursue patent monetization most notably the expenses related to legal proceedings initiated in the first quarter of 2015, as referenced above. biz.yahoo.com/e/150520/andr10-q.html

Research and development expenses for the three months ended March 31, 2015 increased 68% to $179,476 from $106,664 for the three months ended March 31, 2014. These expenses primarily relate to costs associated with the development of new products. For the three months ended March 31, 2015, the decrease in research and development expenses reflects a 16% increase in our Patent Monetization efforts to $5,937, or 3% of total research and development expenses. For the three months ended March 31, 2015, the decrease in research and development expenses reflects a 71% increase in our Andrea DSP Microphone and Audio Software Technology efforts to $173,539, or 97% of total research and development expenses. With respect to DSP Microphone and Audio Software technologies, research efforts are primarily focused on the pursuit of commercializing a natural language-driven human/machine interface by developing optimal far-field microphone solutions for various voice-driven interfaces, incorporating Andrea's digital super directional array microphone technology, and certain other related technologies such as noise suppression and stereo acoustic echo cancellation. We believe that continued research and development spending should benefit Andrea in the future. biz.yahoo.com/e/150520/andr10-q.html

General, administrative and selling expenses decreased approximately 61% to $227,607 for the three months ended March 31, 2015 from $576,850 for the three months ended March 31, 2014. This decrease of approximately $349,000 is primarily related to a decrease in costs associated with consummating the Revenue Sharing and Note Purchase Agreement in the first quarter of 2014. For the three months ended March 31, 2015, general, administrative and selling expenses related to our Patent Monetization efforts were $48,101 or 21% of the total and the Andrea DSP Microphone and Audio Software Technology general, administrative and selling expenses were $179,506, or 79% of total general, administrative and selling expenses biz.yahoo.com/e/150520/andr10-q.html

Interest expense, net for the year ended March 31, 2015 was $7,499 compared to interest income, net of $495 the three months ended March 31, 2014. The changes in this line item are attributable to an increase of interest expense related to long-term debt in conjunction with the Amended and Restated Revenue Sharing Agreement.
biz.yahoo.com/e/150520/andr10-q.html

The income tax provision for the three months ended March 31, 2015 was $41,538, compared to $38,584 for the three months ended March 31, 2015. The provision for income taxes for the three months ended March 31, 2015 is a result of certain licensing revenues that are subject to withholding of income tax as mandated by the foreign jurisdiction in which the revenues are earned. Although the provision from 2014 could be offset by future tax benefits, the Company does not record the benefit as it is unlikely that the Company will be able to use these types of foreign tax credits or alternative minimum tax credits. The Company records a full valuation against deferred tax assets until such benefits will be utilized. biz.yahoo.com/e/150520/andr10-q.html