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   Technology StocksTurtle Beach Corp


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From: Savant11/11/2014 12:28:48 PM
   of 199
 
Turtle Beach Announces Third Quarter 2014 Results

PR Newswire

SAN DIEGO, Nov. 10, 2014

SAN DIEGO, Nov. 10, 2014 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR) today announced financial results for the third quarter ended September 30, 2014.

Highlights & Developments

-- Third quarter net revenue of $33.3 million, lifts net revenue to $93.9 million for the first nine months of 2014, a 1.7% increase over revenue of $92.4 million in the first nine months of 2013. -- Third quarter gross margin improved 70 basis points to 23.3%, contributing to a 100 basis point increase to 26.5% for the first nine months of 2014. -- Gross profit for the first nine months of 2014 was $24.9 million, representing an increase of 5.4% over the same period a year ago. -- Increased the number of next-generation headsets available at retail to eight new Xbox One and five new PlayStation(R)4 compatible headsets, by far the most complete line-up in the industry. -- Improved PC gaming headset sell-through in the U.S. by over 75% year-over-year for the first nine months of 2014 and introduced complementary PC keyboards and mice via a licensing agreement to further drive PC headset sales and share gains. -- Launched Turtle Beach officially-licensed Xbox One gaming headsets in China to coincide with the September launch of Xbox One consoles. -- Further strengthened intellectual property asset base to 118 issued and pending patents. -- First wide-scale deployment of HyperSound(R) virtual reality audio zones in Activision Call of Duty(R): Advanced Warfare retail displays in approximately 1,000 Best Buy locations in North America. -- Hired experienced hearing health executive Rodney Schutt to lead HyperSound business.

"Our third quarter was highlighted by the start of sell-in of our most advanced, feature-rich gaming headsets for Xbox One and Playstation(R)4 which bring the user experience to new heights and put us in a great position to capitalize on what is expected to be several years of robust growth for the gaming industry," commented Juergen Stark, chief executive officer of Turtle Beach. "The third quarter was also marked by the retail debut of our console gaming headsets in China in conjunction with Microsoft's launch of Xbox One in this large, untapped market. At the same time we improved gross margin versus the same period a year ago despite lower revenue driven by timing differences in product launches and international orders versus 2013."

Mr. Stark continued, "We believe the gaming software market is close to an inflection point in the next generation console cycle that we expect to be the start of significant tailwinds for our business. Recent AAA multi-player game launches have had a very positive impact on our retail sell-through, providing us with solid momentum heading into the holiday season, when we typically generate more than 50% of our annual revenues. However, it is important to note that the recent delays in the launch of several key video game titles from the fourth quarter into next year and the continued trend of somewhat lower attach rates has altered our expectations regarding the timing of our sell-in over the coming months. As we've said all year, we are operating in a very fluid environment following the new console launches and our near-term focus is on setting the Company up for long-term success. With our first mover advantage on next generation compatible headsets, unmatched retail placement and leading market share, we believe we are in a great position to grow our Turtle Beach gaming headset business for years to come. At the same time, we've made important advancements in the development of our HyperSound technology -- including the initial rollout of our commercial offering and new leadership -- that we believe will strengthen the upcoming launch of our hearing health product line. We are confident that the strategic course we are on will deliver sustainable growth, increased profitability and significant shareholder value."

Third Quarter and First Nine Months 2014 Review

Net revenue in the third quarter was $33.3 million, compared with $38.3 million in the same period in 2013. The decrease in revenue was driven primarily by the timing of international shipments and release dates of certain new headsets that shifted sales into the fourth quarter. For the first nine months of 2014, revenue increased 1.7% to $93.9 million, compared with $92.4 million for the same period a year ago. The increase in revenue was driven by strong consumer response to the Company's Xbox One and Playstation(R)4 compatible headsets, partially offset by the aforementioned shift in international sales.

Gross profit for the third quarter was $7.7 million, compared to $8.6 million in the same period in 2013. Gross margin rate increased 70 basis points to 23.3% in the third quarter compared with the same period a year ago primarily due to sales of higher margin headsets and mix of customers compared to the prior year period. Gross margin rate improved by 100 basis points to 26.5% for the first nine months of 2014 compared with the same period a year ago.

Operating expenses increased 26.1% to $15.1 million, compared to $11.9 million in the same period in 2013. The increase in operating expenses was primarily attributable to costs associated with being a public company, including additional headcount and higher stock-based compensation costs, and investments in personnel and product development to support future growth of HyperSound technology, partially offset by lower business transaction costs. For the first nine months of 2014, operating expenses, excluding $3.7 million and $2.3 million in business transaction costs in 2014 and 2013 respectively, increased 37.2% to $42.1 million, compared to $30.7 million in the same period a year ago.

Net loss for the third quarter was ($5.6) million, or ($0.13) per diluted share, compared to a net loss of ($1.4) million or ($0.11) per diluted share in the same period a year ago.

Adjusted EBITDA (as defined below) for the headset business totaled approximately ($1.7) million compared to $0.6 million in the third quarter of 2013. Adjusted EBITDA on a consolidated basis was ($4.5) million, reflecting investments of approximately $2.5 million in the HyperSound business during the quarter. For the first nine months of 2014, Adjusted EBITDA for the headset business totaled approximately ($1.5) million as compared to ($1.2) million in the same period a year ago. Adjusted EBITDA on a consolidated basis was ($8.4) million for the first nine months of 2014, reflecting investments of approximately $6.7 million in the HyperSound business during the first nine months of 2014.

Balance Sheet Review

The company ended the quarter with approximately $4.4 million in cash and cash equivalents compared to $6.5 million as of December 31, 2013. As of September 30, 2014, the Company had cash, cash equivalents and available borrowings under its credit facility totaling $18.1 million. Outstanding debt at September 30, 2014 decreased 44% or $28.4 million to $36.2 million compared to $64.6 million at December 31, 2013. Total inventory as of September 30, 2014 was $46.6 million, a decrease of 25.2% compared to the same period in 2013.

Outlook

For the fourth quarter of 2014, the Company expects net revenue for the Turtle Beach headset business to be in the range of $91 to $101 million, representing an increase of approximately 12% at the mid-point of the range over the same period a year ago. Fourth quarter adjusted EBITDA for the headset business is expected to be in the range of $19 to $21 million, representing an increase of approximately 29% at the mid-point of the range over the same period a year ago. Total company fourth quarter adjusted EBITDA is expected to be in the range of $16 to $18 million, reflecting the impact of an anticipated roughly $3 million investment in HyperSound.

For the full year 2014, the Company is revising its outlook based on several factors, including lowered industry forecasts for the gaming headset industry, particularly with respect to old generation consoles, the delay in certain AAA game title launches into 2015 and one-time logistical cost impacts related to the recent console transition. The Company now expects net revenues for the Turtle Beach headset business to be in the range of $185 to $195 million for the full year 2014, representing an increase of approximately 6% at the mid-point of the range over 2013. For the full year, adjusted EBITDA for the headset business is now expected to be in the range of $18 to $20 million, representing an increase of approximately 32% at the mid-point of the range over 2013. Total company 2014 adjusted EBITDA is expected to be in the range of $8 to $10 million, reflecting the impact of a $10 million anticipated HyperSound investment.

Third Quarter Presentation

The Company also announced it has posted a third quarter business and earnings summary presentation on its corporate website. The presentation can be accessed at corp.turtlebeach.com.

Conference Call Details

Juergen Stark, CEO, and John Hanson, CFO, will host a conference call and simultaneous webcast to discuss the financial results and outlook today, November 10, 2014, at 1:30 PM Pacific Time / 4:30 PM Eastern Time.

To participate in the conference call, investors should dial (855) 425-4205 (domestic) or (920) 663-6272 (international), and provide the pass code 2265531, 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.turtlebeachcorp.com. An archive of the webcast will be available on the Company's website for approximately one year, and a recorded replay of the call will be available for one week at (855) 859-2056 and (404) 537-3406 and entering conference ID number 22655316.

Non-GAAP Financial Measures

In addition to its reported results, the Company has included in this earnings release certain financial results that the Securities and Exchange Commission defines as "non-GAAP financial measures." Management believes that such non-GAAP financial measures, when read in conjunction with the Company's reported results, can provide useful supplemental information for investors analyzing period to period comparisons of the Company's results. These non-GAAP financial measures relate to presenting Adjusted EBITDA for the periods presented. "Adjusted EBITDA" is defined by the Company as net income (loss) before interest, taxes, depreciation and amortization, stock-based compensation (non-cash), non-cash amortization of payments to founders and certain business transaction expenses. Management adjusts net income (loss) for business transaction costs because it believes that such items are not representative of core operations. Please see a reconciliation of GAAP results to Adjusted EBITDA, which is included below for the three and nine months ended September 2014 and 2013.

All trademarks are the property of their respective owners.

About Turtle Beach Corporation

Turtle Beach Corporation (TurtleBeachCorp.com) designs audio products for consumer, commercial and healthcare markets. Under the brand Turtle Beach (TurtleBeach.com), the company markets premium headsets for use with video game consoles, including officially-licensed headsets for the next-generation Xbox One and PlayStation(R)4, personal computers and mobile devices. Under the brand HyperSound(R) (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The Company's shares are traded on the NASDAQ Exchange under the symbol NASDAQ:HEAR.

Forward-Looking Statements

This press release includes forward-looking information and statements within the meaning of the federal securities laws. 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 statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current 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, but are not limited to, 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, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, and other factors discussed in our public filings, including the risk factors included in the Company's Prospectus Supplement filed with the SEC on April 24, 2014, the Company's Form 10-Q for the quarter ended June 30, 2014 and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company any is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

Turtle Beach Corporation Condensed Consolidated Balance Sheets (in thousands, except par value and share amounts) Table 1. September 30, December 31, 2014 2013 ---------------- ---------------- ASSETS (unaudited) Current Assets: Cash and cash equivalents $ 4,416 $ 6,509 Accounts receivable, net 26,712 48,542 Inventories, net 46,557 49,643 Deferred income taxes 13,918 2,214 Prepaid income taxes 1,329 2,925 Prepaid expenses and other current assets 5,866 3,561 ---------------- -------------- Total Current Assets 98,798 113,394 Property and equipment, net 5,174 7,369 Goodwill 80,974 -- Intangible assets, net 40,025 3,972 Deferred income taxes 6,101 827 Other assets 650 1,745 Total Assets $ 231,722 $ 127,307 ============ ========== LIABILITIES, CONVERTIBLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Revolving credit facilities $ 28,663 $ 39,736 Term loan -- 14,500 Subordinated notes - related parties 7,506 -- Accounts payable 28,650 44,136 Due to shareholders -- 3,125 Other current liabilities 8,039 9,712 ---------------- -------------- Total Current Liabilities 72,858 111,209 Series B redeemable preferred stock 14,621 13,713 Deferred income taxes 14,325 850 Subordinated notes -- 10,342 Other liabilities 2,041 1,986 Total Liabilities 103,845 138,100 ---------------- -------------- Commitments and Contingencies Series A convertible stock, $0.01 par value - 50,000,000 shares authorized; 48,689,555 shares issued and outstanding as of December 31, 2013 -- 24,345 Stockholders' Equity (Deficit) Common stock, $0.001 par value - 50,000,000 shares authorized; 42,011,463 and 12,700,460 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively 42 13 Additional paid-in capital 126,739 (54,031) Retained earnings 929 18,775 Accumulated other comprehensive income 167 105 ---------------- -------------- Total Stockholders' Equity (Deficit) 127,877 (35,138) ---------------- -------------- Total Liabilities, Convertible Preferred Stock and Stockholders' Equity (Deficit) $ 231,722 $ 127,307 ============ ========== Turtle Beach Corporation Condensed Consolidated Statements of Operations (in thousands, except per-share data) (unaudited) Table 2. Three Months Ended Nine Months Ended ------------------------ ------------------------ September September September September 30, 30, 2014 30, 2013 30, 2014 2013 ----------- ----------- --------- ------------- Net Revenue $ 33,325 $ 38,299 $ 93,909 $ 92,352 Cost of Revenue 25,576 29,653 69,053 68,759 Gross Profit 7,749 8,646 24,856 23,593 ----------- ----------- --------- ----------- Operating expenses: Selling and marketing 7,962 7,665 22,660 21,783 Research and development 2,797 1,027 6,866 3,239 General and administrative 4,311 1,648 12,582 5,678 Business transaction costs -- 1,607 3,744 2,287 Total operating expenses 15,070 11,947 45,852 32,987 ----------- ----------- --------- ----------- Operating loss (7,321) (3,301) (20,996) (9,394) Interest expense 866 2,017 6,161 4,580 Other non-operating expense (income), net 334 (217) 239 256 Loss before income tax benefit (8,521) (5,101) (27,396) (14,230) Income tax benefit (2,883) (3,699) (9,550) (7,186) Net loss $ (5,638) $ (1,402) $(17,846) $ (7,044) ======= ======= ======== ======= Net loss per share:

Basic $ (0.13) $ (0.11) $ (0.46) $ (0.55) Diluted $ (0.13) $ (0.11) $ (0.46) $ (0.55) Weighted average number of shares: Basic 41,962 12,700 38,869 12,700 Diluted 41,962 12,700 38,869 12,700 Turtle Beach Corporation GAAP to Adjusted EBITDA Reconciliation (in thousands) (unaudited) Table 3. Three Months Ended September 30, 2014 ------------------------------------------------------------------------------------ Adj Adj Business As Adj Adj Stock Transaction Adj Reported Depreciation Amortization Compensation Expense EBITDA Net Revenue $ 33,325 $ -- $ -- $ -- $ -- $ 33,325 Cost of Revenue 25,576 (48) (66) (151) -- 25,311 --------- -------------- -------------- -------------- ------------- -------- Gross Profit 7,749 48 66 151 -- 8,014 Operating Expense 15,070 (1,243) (245) (1,368) -- 12,214 --------- -------------- -------------- -------------- ------------- -------- Operating loss (7,321) 1,291 311 1,519 -- (4,200) Interest expense 866 Other non-operating expense (income), net 334 334 --------- -------- Loss before income tax benefit (8,521) Income tax benefit (2,883) --------- Net loss $ (5,638) Adjusted EBITDA $(4,534) ======== ======= Nine Months Ended September 30, 2014 ------------------------------------------------------------------------------------ Adj Adj Business As Adj Adj Stock Transaction Adj Reported Depreciation Amortization Compensation Expense EBITDA Net Revenue $ 93,909 $ -- $ -- $ -- $ -- $ 93,909 Cost of Revenue 69,053 (155) (80) (219) -- 68,599 --------- -------------- -------------- -------------- ------------- -------- Gross Profit 24,856 155 80 219 -- 25,310 Operating Expense 45,852 (4,184) (728) (3,697) (3,744) 33,499 --------- -------------- -------------- -------------- ------------- -------- Operating loss (20,996) 4,339 808 3,916 3,744 (8,189) Interest expense 6,161 Other non-operating expense (income), net 239 239 --------- -------- Loss before income tax benefit (27,396) Income tax benefit (9,550) --------- Net loss $(17,846) Adjusted EBITDA $(8,428) ======== ======= Table 3. (continued) Three Months Ended September 30, 2013 ----------------------------------------------------------------------------------- Adj Adj Business As Adj Adj Stock Transaction Adj Reported Depreciation Amortization Compensation Expense EBITDA Net Revenue $ 38,299 $ -- $ -- $ -- $ -- $ 38,299 Cost of Revenue 29,653 (41) -- (15) -- 29,597 -------- -------------- -------------- -------------- ------------- -------- Gross Profit 8,646 41 -- 15 -- 8,702 Operating Expense 11,947 (1,120) (251) (641) (1,607) 8,328 -------- -------------- -------------- -------------- ------------- -------- Operating loss (3,301) 1,161 251 656 1,607 374 Interest expense 2,017 Other non-operating expense (income), net (217) (217) -------- -------- Loss before income tax benefit (5,101) Income tax benefit (3,699) -------- Net loss $(1,402) Adjusted EBITDA $ 591 ======= ======= Nine Months Ended September 30, 2013 ----------------------------------------------------------------------------------- Adj Adj Business As Adj Adj Stock Transaction Adj Reported Depreciation Amortization Compensation Expense EBITDA Net Revenue $ 92,352 $ -- $ -- $ -- $ -- $ 92,352 Cost of Revenue 68,759 (125) -- (56) -- 68,578 -------- -------------- -------------- -------------- ------------- -------- Gross Profit 23,593 125 -- 56 -- 23,774 Operating Expense 32,987 (2,926) (712) (1,863) (2,814) 24,672 -------- -------------- -------------- -------------- ------------- -------- Operating loss (9,394) 3,051 712 1,919 2,814 (898) Interest expense 4,580 Other non-operating expense (income), net 256 256 -------- -------- Loss before income tax benefit (14,230) Income tax benefit (7,186) -------- Net loss $(7,044) Adjusted EBITDA $(1,154) ======= =======

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From: Savant12/30/2014 11:28:28 AM
   of 199
 
Turtle Beach Successfully Replaces Subordinated Debt with Lower Cost Financing
SAN DIEGO, Dec. 30, 2014 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR) today announced that it has entered into an amendment to its loan agreement with Bank of America signed March 31, 2014 that will allow the Company to repay approximately $7.7 million of existing subordinated debt. The subordinated debt had an annual interest rate of 10% through December 31, 2014 and 20% per annum thereafter. The interest rate on the $7.7 million loan is LIBOR plus 5% while the interest rate on the remaining portion of the Company's credit facility remains at LIBOR plus 2.5%.

The transaction is expected to generate approximately $0.4 million in interest savings annually compared with 2014 based on the current LIBOR rate.

About Turtle Beach Corporation

Turtle Beach Corporation (TurtleBeachCorp.com) designs audio products for consumer, commercial and healthcare markets. Under the brand Turtle Beach (TurtleBeach.com), the company markets premium headsets for use with video game consoles, including officially-licensed headsets for the next-generation Xbox One and PlayStation(R)4, personal computers and mobile devices. Under the brand HyperSound(R) (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The Company's shares are traded on the NASDAQ Exchange under the symbol NASDAQ: HEAR.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/turtle-beach-replaces-subordinated-debt-with-lower-cost-financing-300014439.html

SOURCE Turtle Beach

/CONTACT: David Lowey, Director of Corporate Communications, Turtle Beach Corporation, David.Lowey@turtlebeach.com, +1-914-844-2759; Anne Rakunas, Investor Relations, ICR, Anne.Rakunas@icrinc.com, +1-310-954-1113

/Web site: turtlebeachcorp.com

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From: Savant1/27/2015 1:24:15 AM
   of 199
 
Turtle Beach Announces Presentation of Research on the Improved Speech Discrimination of HyperSound® Audio

Wed January 21, 2015 4:00 PM|PR Newswire | About: HEAR


SAN DIEGO, Jan. 21, 2015 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), a leading innovator of audio products and solutions, today announced that findings from company sponsored research on its HyperSound® audio system have been accepted for presentation at the 2015 Combined Sections Meeting of the Triological Society on January 22, 2015. Principal investigator, Dr. Ritvik P. Mehta, will present the paper Novel Ultrasonic Sound Carrier Significantly Improves Speech Discrimination in Subjects with Hearing Loss at the three-day conference in Coronado, California. The research data from a ten patient study suggests that HyperSound audio delivers significant improvement in sound clarity over conventional speakers at 70 dB, including in background noise, in those with mild to severe hearing loss. In February 2014, the company received U.S. Food and Drug Administration (FDA) clearance to market the HyperSound® Audio System to improve clarity and comprehension of sound.

"I am pleased that this important research will be presented at the Triological Society Meeting, and that leading otolaryngologists will have the opportunity to learn about the efficacy of HyperSound technology as a hearing health solution," said Rodney Schutt, SVP and General Manager of HyperSound.

HyperSound technology is a fundamentally new approach to sound delivery that uses a thin panel to generate an ultrasound beam that carries audio through the air. Unlike traditional speakers, HyperSound speakers beam clear, immersive sound to the targeted listener only. The panel directs sound in a narrow, controlled beam much the way a flashlight directs a beam of light. Individuals hear clear, immersive 3D audio without the need to wear headphones or other devices. The research led by Dr. Mehta suggests that the HyperSound audio beam improves the clarity of audio and speech comprehension in individuals with hearing loss.

Researchers estimate that one in five Americans, and one in three people over age 65, suffer from hearing loss. Impacting over 48 million Americans, hearing loss is the third most common physical condition in the United States after arthritis and heart disease. An estimated 360 million people worldwide suffer from some form of hearing loss.

Key Information:
Otology/Neurotology Scientific Session Presentation: Novel Ultrasonic Sound Carrier Significantly Improves Speech Discrimination in Subjects with Hearing Loss
When: Thursday, January 22, 2015 at 2:52 pm PST
Where: Hotel Del Coronado, San Diego, California

About Turtle Beach Corporation ( HEAR)

Turtle Beach Corporation ( Turtlebeachcorp.com) designs audio products for consumer, commercial and healthcare markets. Under the brand Turtle Beach ( TurtleBeach.com), the company markets premium headsets for use with video game consoles, including officially-licensed headsets for the next-generation Xbox One and PlayStation®4, personal computers and mobile devices. Under the brand HyperSound® ( HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The Company's shares are traded on the NASDAQ Exchange under the symbol NASDAQ:HEAR.

To view the original version on PR Newswire, visit: http://www.prnewswire.com/news-releases/turtle-beach-announces-presentation-of-research-on-the-improved-speech-discrimination-of-hypersound-audio-300023600.html

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From: Savant3/16/2015 6:02:05 PM
   of 199
 
  • Turtle Beach (NASDAQ: HEAR): Q4 EPS of $0.07 misses by $0.07.
  • Revenue of $92.26M (+7.1% Y/Y) beats by $0.99M.

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    From: Savant4/21/2015 12:04:21 PM
       of 199
     
    TURTLE BEACH WINS “BEST PERIPHERALS AND ACCESSORIES BRAND” HONORS SECOND YEAR IN A ROW AT UK VIDEO GAME INDUSTRY’S MCV AWARDS
    San Diego, CA – April 21, 2015 – Turtle Beach Corporation (NASDAQ: HEAR), the leading-edge audio technology company and #1 in gaming audio, was recognized for the second year in a row as the industry’s “Best Peripherals and Accessories Brand” during last week’s MCV Awards 2015 show, held at the Lancaster’s Gate in London, UK. In addition to receiving the award in 2015 and 2014, Turtle Beach previously received the same award in 2012, making it a third time in four years the company has been recognized by the industry as the best brand in the peripherals/accessories space. MCV is a leading gaming news and community outlet for professionals working within the UK and international video games market.

    “We’re honored to win this prestigious award from MCV, particularly back-to-back!” said Juergen Stark, CEO, Turtle Beach Corporation. “It’s a great affirmation of the innovative and high-quality products we’ve launched over the past year, and the strength of the Turtle Beach brand among serious gamers.”

    Added Chris Dring, Editor at MCV, “Turtle Beach has had a very impressive 12 months. They were named the peripherals firm with the best quality in our Annual Retail Survey in December, and that has been followed up by the judges voting them the UK’s top accessories brand for the second year running at this year’s MCV Awards. To win two years in a row is no small feat, and it goes to show the strength of the brand within the games industry."

    Turtle Beach just entered the PC gaming accessories market this month, with its new line of professional grade gaming keyboards, mice and mousepads designed for competitive gamers. The Company is also on the verge of releasing its fully wireless, premium gaming headset for Xbox One, the Elite 800X, which is available for pre-order right now and will launch at retail on May 22nd. Turtle Beach’s Elite 800X is fully wireless for game audio and chat audio. That means there’s no cable going from the Elite 800X headset to the game controller, and no cable going from the game controller to the console. Players get crystal clear game audio and chat audio via 100% wireless connectivity, using the latest, cutting-edge technology. Turtle Beach is also set to unveil its new lineup of headsets at E3 2015 this June.

    About Turtle Beach Corporation

    Turtle Beach Corporation (www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand (www.turtlebeach.com), the Company markets a wide selection of quality gaming headsets catering to a variety of gamers’ needs and budgets, for use with video game consoles, including officially-licensed headsets for the Xbox One and PlayStation®4, as well as for personal computers and mobile/tablet devices. Under the HyperSound brand (www.hypersound.com), the Company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. The Company's shares are traded on the NASDAQ Exchange under the symbol: HEAR.

    Forward-Looking Statements

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    From: Savant5/12/2015 5:33:19 PM
       of 199
     
    HEAR... http://www.marketwatch.com/story/turtle-beach-corporation-partners-with-american-hearing-aid-associates-for-groundbreaking-hypersound-cleartm-hearing-solutions-product-2015-05-12

    American Hearing Aid Associates For Groundbreaking HyperSound Clear™ Hearing Solutions Product

    By
    Published: May 12, 2015 7:04 a.m. ET

    Agreement Will Make HyperSound Clear™ Hearing Solutions Product Available to the Nation's Largest Network of Hearing Healthcare Providers When it Launches Later This Year

    SAN DIEGO, May 12, 2015 /PRNewswire/ -- Turtle Beach Corporation HEAR, -2.53% the leading-edge audio technology company, today announced a new partnership with American Hearing Aid Associates (AHAA) as the Company moves closer to launching HyperSound Clear™, the first-of-its-kind directed audio solution that improves sound clarity and speech intelligibility for individuals with hearing loss. This newly formed partnership will make AHAA – one of the nation's largest and most highly regarded networks of hearing healthcare providers – one of the first to offer HyperSound Clear when it launches later this year.

    "We're dedicated to empowering and supporting our network of hearing care professionals by providing a portfolio of strong, customer-centric solutions that add true value to end-users," said Barbara Lewis, Director of Customer Excellence and Quality Assurance for AHAA. "We recognize one of the key drivers to accelerating audiologic treatment is continually innovating current technology and developing new ones, and HyperSound Clear is a great example of a new technology that has the potential to really improve the lives of people with hearing loss."

    "We are obviously thrilled to announce this partnership with AHAA as they immediately understand HyperSound Clear's value proposition for the hearing healthcare market," said Rodney Schutt, Senior Vice President and General Manager for HyperSound at Turtle Beach Corporation. "HyperSound Clear is a great fit for the hearing healthcare industry, whether as a gateway product in the early stages of a patient's hearing health journey prior to owning hearing aids, or as an 'unplugged' entertainment solution after they've purchased hearing aids."

    Added Tina Soika, President of AHAA: "HyperSound Clear's novel approach to delivering speech intelligibility makes it a uniquely effective solution, not only for individuals with hearing loss, but for their loved ones as well. We are excited to provide our associates with a wider range of hearing loss treatments than ever before."

    HyperSound is Turtle Beach Corporation's fundamentally new approach to sound delivery that utilizes thin panels to generate an ultrasound beam that carries audio through the air. The panels direct sound in a narrow, controlled beam; much the way a flashlight directs a beam of light. When an individual enters the beam's radius, they hear immersive 3D audio, similar to wearing a surround sound headset. The characteristics of the HyperSound Clear audio beam have been shown to improve the clarity of audio and speech intelligibility in individuals with certain types of hearing loss.

    In February 2014 Turtle Beach Corporation received U.S. Food and Drug Administration (FDA) clearance to market the HyperSound Audio System to improve clarity and comprehension of sound. Researchers estimate that one in five Americans, and one in three people over age 65, suffer from hearing loss. Impacting over 48 million Americans, hearing loss is the third most common chronic physical condition in the United States after arthritis and heart disease. An estimated 360 million people worldwide suffer from some form of hearing loss.

    About American Hearing Aid AssociatesAmerican Hearing Aid Associates (AHAA – www.ahaanet.com) represents the nation's highest-quality and most accessible hearing healthcare network, comprised of professional audiologists, hearing aid dispensers, otolaryngologists, hospitals, and universities across the country. AHAA aims to raise the quality of hearing healthcare throughout America by continual evaluation and upgrading of the educational standards and technical expertise of its hearing Associates.

    About Turtle Beach CorporationTurtle Beach Corporation ( www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand ( www.turtlebeach.com), the Company markets a wide selection of quality gaming

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    From: Savant6/11/2015 8:14:09 PM
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  • Ahead of the gaming industry's E3 conference (runs from June 16-18), Turtle Beach (NASDAQ: HEAR) has unveiled its 2015 headset line (6 models).
  • ******The company also states it will demo its HyperSound Clear hearing aid at E3.*****


  • Prices for the new headsets range from $25 for the no-frills Recon 30X, which works with a variety of platforms and has a single 40mm over-ear speaker, to $175 for the Stealth 420X, a wireless Xbox One headset sporting 50mm speakers, synthetic leather-wrapped ear-cups, 4 audio presets, and an adjustable high-sensitivity boom mic.
  • Other models include the Stealth 450, a $130 PC gaming headset that supports DTS Headphone:X 7.1 sound, and the PX24, an $80 multi-platform headset featuring 50mm speakers and a battery-powered in-line amplifier.
  • Turtle Beach saw a rough 2014 that was blamed in part on low console headset attach rates and aggressive pricing from rivals. In April, SA author Charles Moscoe argued better times are ahead.

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    From: Savant6/23/2015 9:59:22 AM
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    HEAR partners w/Amplified Resource Group, Hypersound for hearing clarity

    also..

    HEAR... http://www.marketwatch.com/story/turtle-beach-corporation-partners-with-american-hearing-aid-associates-for-groundbreaking-hypersound-cleartm-hearing-solutions-product-2015-05-12

    American Hearing Aid Associates For Groundbreaking HyperSound Clear™ Hearing Solutions Product

    By
    Published: May 12, 2015 7:04 a.m. ET

    Agreement Will Make HyperSound Clear™ Hearing Solutions Product Available to the Nation's Largest Network of Hearing Healthcare Providers When it Launches Later This Year

    SAN DIEGO, May 12, 2015 /PRNewswire/ -- Turtle Beach Corporation HEAR, -2.53% the leading-edge audio technology company, today announced a new partnership with American Hearing Aid Associates (AHAA) as the Company moves closer to launching HyperSound Clear™, the first-of-its-kind directed audio solution that improves sound clarity and speech intelligibility for individuals with hearing loss. This newly formed partnership will make AHAA – one of the nation's largest and most highly regarded networks of hearing healthcare providers – one of the first to offer HyperSound Clear when it launches later this year.

    "We're dedicated to empowering and supporting our network of hearing care professionals by providing a portfolio of strong, customer-centric solutions that add true value to end-users," said Barbara Lewis, Director of Customer Excellence and Quality Assurance for AHAA. "We recognize one of the key drivers to accelerating audiologic treatment is continually innovating current technology and developing new ones, and HyperSound Clear is a great example of a new technology that has the potential to really improve the lives of people with hearing loss."

    "We are obviously thrilled to announce this partnership with AHAA as they immediately understand HyperSound Clear's value proposition for the hearing healthcare market," said Rodney Schutt, Senior Vice President and General Manager for HyperSound at Turtle Beach Corporation. "HyperSound Clear is a great fit for the hearing healthcare industry, whether as a gateway product in the early stages of a patient's hearing health journey prior to owning hearing aids, or as an 'unplugged' entertainment solution after they've purchased hearing aids."

    Added Tina Soika, President of AHAA: "HyperSound Clear's novel approach to delivering speech intelligibility makes it a uniquely effective solution, not only for individuals with hearing loss, but for their loved ones as well. We are excited to provide our associates with a wider range of hearing loss treatments than ever before."

    HyperSound is Turtle Beach Corporation's fundamentally new approach to sound delivery that utilizes thin panels to generate an ultrasound beam that carries audio through the air. The panels direct sound in a narrow, controlled beam; much the way a flashlight directs a beam of light. When an individual enters the beam's radius, they hear immersive 3D audio, similar to wearing a surround sound headset. The characteristics of the HyperSound Clear audio beam have been shown to improve the clarity of audio and speech intelligibility in individuals with certain types of hearing loss.

    In February 2014 Turtle Beach Corporation received U.S. Food and Drug Administration (FDA) clearance to market the HyperSound Audio System to improve clarity and comprehension of sound. Researchers estimate that one in five Americans, and one in three people over age 65, suffer from hearing loss. Impacting over 48 million Americans, hearing loss is the third most common chronic physical condition in the United States after arthritis and heart disease. An estimated 360 million people worldwide suffer from some form of hearing loss.

    About American Hearing Aid AssociatesAmerican Hearing Aid Associates (AHAA – www.ahaanet.com) represents the nation's highest-quality and most accessible hearing healthcare network, comprised of professional audiologists, hearing aid dispensers, otolaryngologists, hospitals, and universities across the country. AHAA aims to raise the quality of hearing healthcare throughout America by continual evaluation and upgrading of the educational standards and technical expertise of its hearing Associates.

    About Turtle Beach CorporationTurtle Beach Corporation ( www.turtlebeachcorp.com) designs leading-edge audio products for the consumer, commercial and healthcare markets. Under the Turtle Beach brand ( www.turtlebeach.com), the Company markets a wide selection of quality gaming

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    From: Savant7/13/2015 8:09:38 PM
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    Turtle Beach (NASDAQ: HEAR) partners with healthcare audiology services provider AMG--added to the list of resellers for its HyperSound Clear hearing assistance device.

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    From: Savant7/23/2015 12:59:10 PM
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    HEAR: Turtle Beach up 12.9% after announcing loan/credit amendment

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