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SOURCE Parametric Sound Corporation
Posts Updated Investor Presentation on Company Website
SAN DIEGO, May 1, 2014 /PRNewswire/ -- Parametric Sound Corporation (NASDAQ: HEAR) today announced that it will report first quarter 2014 financial results after the market close on May 12, 2014. On that same day, Juergen Stark, CEO, and John Hanson, CFO will host a conference call and simultaneous webcast to discuss results at 4:30 p.m. Eastern Time/1:30 p.m. Pacific Time.
In the prospectus supplement filed with the SEC on April 24, 2014, the Company disclosed that it expected net revenue to be in the range of $36 million to $38 million for the first quarter ended March 31, 2014, an increase of approximately 22% to 29% over the same period a year ago.
"Fiscal year 2014 has gotten off to a very good start with first quarter sales tracking ahead of our initial expectations," said Juergen Stark, Chief Executive Officer of Parametric Sound Corporation. "Our growth is being fueled by strong retailer and consumer demand for new product introductions, including our recently launched line of Xbox One compatible headsets. We are encouraged with our strong top-line momentum and believe we are well positioned to execute our near and long-term growth strategies and generate increased value for our shareholders."
The company also announced it has posted an updated investor presentation on the investor relations section of its corporate website. The new presentation can be accessed at http://parametricsound.com/investors.php.
To participate in the conference call, investors should dial (877) 303-9855 (domestic) or (408) 337-0154 (international), pass code 36801752, 10 minutes prior to the scheduled start of the call. A simultaneous audio-only webcast of the call may be accessed on the internet at www.parametricsound.com.
For investors unable to participate in the live event, an archive of the webcast will be available on the company's website for approximately 1 year. A taped replay of the call will be available for one week at (855) 859-2056 and (404) 537-3406, pass code 36801752.
About Parametric Sound
Parametric Sound Corporation is an audio technology company that markets innovative products under the Turtle Beach and HyperSound brands.
The company designs and markets premium audio peripherals for video game consoles, personal computers and mobile devices under the brand Turtle Beach (TurtleBeach.com), including officially-licensed headsets for the next-generation Xbox One and PlayStation 4 consoles. Turtle Beach is the leading brand in video game audio and the official audio provider for Major League Gaming, the world's largest eSports league, and Twitch, the world's leading video platform and community for gamers.
Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that beam sound to a specific listening area without the ambient noise of traditional speakers. HyperSound has applications in digital signage and kiosks, consumer electronics and health care.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Forward looking statements are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include the substantial uncertainties inherent in acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, our indebtedness and other factors detailed in the Company's Annual Report on Form 10-K, the prospectus supplement filed with the SEC on April 24, 2014 and other periodic reports filed with the SEC. Except as required by law, the Company specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
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