Proactiveinvestors USA & Canada Turtle Beach https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Turtle Beach RSS feed en Fri, 22 Mar 2019 09:16:49 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Turtle Beach acquires ROCCAT for $19.2M as it beats Street's 4Q forecasts ]]> https://www.proactiveinvestors.com/companies/news/216509/turtle-beach-acquires-roccat-for-192m-as-it-beats-street-s-4q-forecasts-216509.html Shares of Turtle Beach (NASDAQ:HEAR) tumbled in after-hours trade Thursday after the gaming-headset manufacturer posted a weak outlook along with its fourth-quarter results and unveiled an agreement to acquire ROCCAT, a German PC peripherals company for $19.2 million in cash, stock and earn-out payments.

The addition of ROCCAT’s line-up of gaming mice, keyboards and other accessories will accelerate Turtle Beach’s move into the market for PC gaming headsets and accessories.

ROCCAT recently launched its new Vulcan Mechanical Gaming keyboard and the Kone AIMO RGBA Smart Customization Gaming Mouse.

“This is a dynamic and strategically important deal for Turtle Beach,” said Juergen Stark, CEO of Turtle Beach. “We are adding a complementary portfolio of PC gaming mice and keyboards, a skilled PC accessories team, and a highly synergistic distribution footprint.”

READ: Turtle Beach shares dip despite topping 3Q revenue and raising its full-year outlook

In the fourth quarter, the San Diego-based company posted a 73% rise in net income to $24.6 million, or $1.33 per share, up from $14.2 million, or $1.15 per share. Its net revenue, meanwhile, came in at $111.3 million, up from $79.7 million in the corresponding period last year.

The results beat the estimates of analysts who had expected Turtle Beach to post earnings of $1.31 on revenue of $110.2 million.

But investors sent Turtle Beach shares down 15% in after-hours trade Thursday to $13.75.

CEO Stark expects continued growth in the battle royale gaming genre will drive growth in headsets.

“Looking beyond the console headset market, we expect to significantly expand our presence in the PC accessories market, combining our recently launched line of PC gaming headsets with our acquisition of the PC accessories business of ROCCAT GmbH, which, as we announced today, we expect to close in the second quarter of 2019,” Stark said. "We expect continued growth in the battle royale genre, as evidenced by the success of EA's recently launched Apex Legends, to keep gaming headset users upgrading and replacing headsets and to drive growth over time in the headset market."

The company's full-year revenue in 2019 is expected to be in a range of $240 million to $248 million, which includes approximately eight months' worth of revenue from ROCCAT, which is estimated to be from $20 million to $24 million.

The company also forecast first-quarter adjusted earnings per share of 5 cents, missing the Street's estimate of 7 cents.

 

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Thu, 14 Mar 2019 12:29:00 -0400 https://www.proactiveinvestors.com/companies/news/216509/turtle-beach-acquires-roccat-for-192m-as-it-beats-street-s-4q-forecasts-216509.html
<![CDATA[News - Turtle Beach shares dip despite topping 3Q revenue and raising its full-year outlook ]]> https://www.proactiveinvestors.com/companies/news/208671/turtle-beach-shares-dip-despite-topping-3q-revenue-and-raising-its-full-year-outlook-208671.html Turtle Beach Corporation (NASDAQ:HEAR) topped revenue estimates in its third-quarter results as the release of Call of Duty: Black Ops 4 and Red Dead Redemption 2 spurred the demand for headsets.

The audio accessory company reported earnings of $0.91 per share on revenue of $74.4 million compared with a net loss of $0.04 per share on revenue of $35.98 million in the previous year’s third quarter.

The California-based company topped Wall Street estimates of $0.77 EPS and surpassed revenue estimates of $73.4 million, as provided by Nasdaq.

Shares of Turtle Beach sank double digits in Tuesday after-hours trading and continued to fall nearly 13% to $18.86 in Wednesday morning trading.

READ: Turtle Beach an attractive stock to play given resurgence of video and online games, says Oppenheimer

“This growth is driven by market share gains from a great portfolio of innovative products that enhance game play for all levels of gamers in a strong overall console gaming market,” said CEO Juergen Stark in the company’s press release.

For the fourth quarter, the company expects earnings of $1.02 per share on revenue of $79.7 million.

Turtle Beach upped its full-year guidance to $2.55 per share on revenue of $270 million compared with its prior guidance of $1.95 EPS on revenue of $255 million.

Marketing research company NPD found that year-to-date through August, Turtle Beach sold more console video gaming headsets than any other competitor in any other calendar year since 2006.

The company’s surveys suggest that gamers replace their headsets every 20 to 24 months.

CORRECTION: The original version of this story incorrectly stated that the company missed on earnings, as per data provided by Yahoo Finance.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

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Tue, 06 Nov 2018 16:21:00 -0500 https://www.proactiveinvestors.com/companies/news/208671/turtle-beach-shares-dip-despite-topping-3q-revenue-and-raising-its-full-year-outlook-208671.html
<![CDATA[News - Turtle Beach an attractive stock to play given resurgence of video and online games, says Oppenheimer ]]> https://www.proactiveinvestors.com/companies/news/206993/turtle-beach-an-attractive-stock-to-play-given-resurgence-of-video-and-online-games-says-oppenheimer-206993.html Turtle Beach Corporation (NASDAQ:HEAR) stock has become an attractive way to play the resurgence of interest in video and multi-player online games along with the headsets that gamers use so the company should see steady growth in the months ahead, Oppenheimer Equity Research said.

Analysts Andrew Uerkwitz and Martin Yang said the Turtle Beach numbers came in better-than-expected with third quarter revenue alone forecast to range from $73 million to $74 million, compared to the prior guidance of around $65 million.

"Continued strong demand related to battle royale games was cited as the primary driver of the quarterly beat. The battle royale genre, in our view, is but one example of types of video games that make high-quality headsets essential," they said in a research note to clients. They reiterated an Outperform rating for the stock with a price target of $35.

Turtle Beach stock jumped almost 5% to $18.89 in early trade on Friday. 

The stock had risen 4.11% to $18.75 in the premarket, having closed on Thursday up by 4.71% at $18.01.

READ: Turtle Beach’s preliminary 3Q earnings top guidance as gaming headset demand soars

"We view Turtle Beach as an attractive way to play two investment ideas: first, the resurgence in video games and the accompanying rise in multiplayer online games, and second, HyperSound, a "directed audio" technology on the cusp of commercialization," the analysts concluded.

"More and more games are being built specifically to play with multiplayer and more important "squad/team" modes. Having a headset with microphone offers gamers several advantages, the least of which is a better audio and social experience compared to playing without a headset," the note added.

The headwinds for the stock would be weak demand for video game accessories, soft retail foot traffic hurting sales, and adverse currency translations, they said.

Turtle Beach is a gaming headset and audio accessory company. It is based in San Diego, California.

Reporting by Rene Pastor, contractable on rene.pastor@proactiveinvestors.com

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Fri, 12 Oct 2018 09:32:00 -0400 https://www.proactiveinvestors.com/companies/news/206993/turtle-beach-an-attractive-stock-to-play-given-resurgence-of-video-and-online-games-says-oppenheimer-206993.html
<![CDATA[News - Turtle Beach’s preliminary 3Q earnings top guidance as gaming headset demand soars ]]> https://www.proactiveinvestors.com/companies/news/206910/turtle-beachs-preliminary-3q-earnings-top-guidance-as-gaming-headset-demand-soars-206910.html Turtle Beach Corporation (NASDAQ:HEAR) shares saw a double-digit boost after releasing preliminary third-quarter results that show revenue, income and adjusted EBITDA to be ahead of its prior guidance.

The audio accessory company credits the rise in popularity of multiplayer games like Fortnite as a driving force behind revenue growth.

Its shares soared 12% to $19.30 in Thursday morning trading.

READ: Wedbush reiterates US$42 price target on Turtle Beach after positive takeaways from management meetings

Turtle Beach expects net revenue between $73 million and $74 million, above its prior guidance of $65 million and more than double the $36 million reported in last year’s third quarter.

Third-quarter net income is expected to range between $0.74 and $0.78 per share compared with its previous guidance of $0.44, if 16.2 million weighted average shares are outstanding.

Earnings per share could be as much as $0.10 higher depending on tax treatments, according to the company’s release.

Adjusted EBITDA in the third quarter is expected to be approximately $17 million, above guidance of $11 million and more than five times higher than the $3.3 million reported in the previous third quarter.

Turtle Beach plans to update its outlook for the fourth quarter and its full-year outlook is expected to increase by at least the amount the third quarter surpassed expectations.

READ: Turtle Beach crushes second-quarter estimates as rise of Fortnite and PUBG boosts demand for headsets

"The strong increase in demand for gaming headsets that occurred with the rise of the 'battle royale' genre has continued, drawing new gamers into the market, leading veteran gamers to upgrade their gear, and increasing the overall usage rate and installed base of gaming headsets,” said CEO Juergen Stark in the company’s press release.

The upcoming launches of Call of Duty: Black Ops 4 and Red Dead Redemption 2 are expected to boost the demand for headsets.

Stark said the company’s surveys suggest that gamers replace their headsets every 20 to 24 months.

Marketing research company NPD found that year-to-date through August, Turtle Beach sold more console video gaming headsets than any other competitor in any other calendar year since 2006.

The company said it expects the boost in revenue will help to reduce its debt and support long-term growth investments, which will be addressed during its third-quarter earnings call.

 

Contact Lenore Fedow at lenore@proactiveinvestors.com

Follow her on Twitter: @LenoreMariee

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Thu, 11 Oct 2018 09:11:00 -0400 https://www.proactiveinvestors.com/companies/news/206910/turtle-beachs-preliminary-3q-earnings-top-guidance-as-gaming-headset-demand-soars-206910.html
<![CDATA[News - Wedbush reiterates US$42 price target on Turtle Beach after positive takeaways from management meetings ]]> https://www.proactiveinvestors.com/companies/news/203596/wedbush-reiterates-us42-price-target-on-turtle-beach-after-positive-takeaways-from-management-meetings-203596.html Analysts at Wedbush reiterated an Outperform rating and US$42 price target Friday on San Diego gaming headset and audio accessory company Turtle Beach Corp (NASDAQ:HEAR) citing positive takeaways from meetings with top management.

The analysts told clients the gaming headset maker offered a long-term growth opportunity after it hosted investor meetings Thursday with Turtle Beach CEO Juergen Stark.

“Turtle Beach is currently enjoying the confluence of substantial market growth and market share gains, while improved operational efficiencies are further boosting its earnings,” wrote Wedbush analysts Alicia Reese, Michael Pachter, and Matthew Breda.

READ: Turtle Beach crushes second-quarter estimates as rise of Fortnite and PUBG boosts demand for headsets

The analysts said revenue and earnings were likely to track higher than the "current guidance for financial year 2018 revenue of US$255mln and EBITDA of US$45mln, implying free cash flow greater than current guidance of US$38mln."

“We think the company is poised for continued growth driven by the expansion of Battle Royale-style games, new gamers entering the market, and its expansion into the PC gaming headset market next month. Longer-term, entry into China, and expansion into other gaming accessories should drive additional growth,” wrote the analysts.

Investment thesis

Wedbush estimates Turtle Beach has over 45% market share of the over US$1bn global console gaming headset market (concentrated in North America and Europe), and currently has an insignificant share of the US$1bn global PC gaming headset market.

“Roughly half of the PC headset market is in North America and Europe, which is Turtle Beach’s current focus. We expect Turtle Beach to reach 5% market share in 2019 before looking to expand into Asia/China (the other half of the PC headset market) in 2020,” wrote the analysts.

“We think Turtle Beach could get to 20–25% market share in PC gaming headsets in 3-4 years, or adding US$250mln to annual revenue,” they added.

READ: Oppenheimer raises Turtle Beach price target on headset demand from video gaming space

The analysts said Turtle Beach headsets are ideal for holiday gift-giving for Fornite players, as well as replacing/upgrading around major October game launches from Call of Duty, Battlefield, and Red Dead Redemption.

“Turtle Beach’s ticker, HEAR, is appropriate, as players in multiplayer games have to hear one another in squad-based modes and to hear opponents in death match mode to know where they are vulnerable. This Fortnite phenomenon exposes a large audience to multiplayer games, which require communication. Turtle Beach is capitalizing on the current gaming cycle and it has the operational ability to capture this opportunity and meaningfully expand its earnings,” wrote the analysts.

“We reiterate our Outperform rating and US$42 price target,” they added.

Shares in Turtle Beach traded flat at US$27.83 Friday.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Fri, 24 Aug 2018 12:44:00 -0400 https://www.proactiveinvestors.com/companies/news/203596/wedbush-reiterates-us42-price-target-on-turtle-beach-after-positive-takeaways-from-management-meetings-203596.html
<![CDATA[News - Turtle Beach crushes second-quarter estimates as rise of Fortnite and PUBG boosts demand for headsets ]]> https://www.proactiveinvestors.com/companies/news/202319/turtle-beach-crushes-second-quarter-estimates-as-rise-of-fortnite-and-pubg-boosts-demand-for-headsets-202319.html Turtle Beach Corporation (NASDAQ:HEAR) announced better-than-expected second-quarter results as the rise of multiplayer online games spurred on demand for its audio headsets.

The audio accessory company reported earnings of US$0.40 per share on revenue of US$60.8mln compared with a net loss of US$0.57 on revenue of US$19.11mln in the previous year’s second quarter.

READ: Oppenheimer raises Turtle Beach price target on headset demand from video gaming space

The California-based company crushed Wall Street estimates of a net loss of US$0.02 EPS on revenue of $47.9mln.

Shares jumped in Monday after-hours trading and continued to climb nearly 4% to US$31.53 in Tuesday Morning trading.

For the next quarter, the company expects earnings of US$0.44 per share on revenue of US$65mln, compared with a net loss of US$0.04 per share on revenue of US$36mln in the previous year’s third quarter.

The company upped its full-year guidance to earnings of US$1.95 per share on revenue of US$205mln, above its previous guidance of US$0.95 per share on revenue of US$205mln.

The rise in popularity of multiplayer games like Fortnite and PlayerUnknown’s Battlegrounds have been a driving force behind revenue growth.

“Our growth continues to be driven by a healthy console gaming headset market and our market share gains. The successes of Fortnite and PlayerUnknown’s Battlegrounds, and their innovative battle royale format, has driven new gamers into the market at significantly higher headset attach rates than we have experienced in the past,” said CEO Juergen Stark in a press release.

An analyst weighs in

Oppenheimer analysts were encouraged by the company’s strong earnings beat, seeing sustainable long-term growth ahead.

“We believe fundamentals remain favorable for HEAR as a healthier balance sheet allows the company to invest in growth initiatives beyond 2018. A potentially expanded installed base allows for sustainable long-term growth for replace/upgrade demand,” wrote analysts Andrew Uerkwitz and Martin Yang.

The average replacement cycle for a console headset is around 24 months on average, as per the note.

The analysts reiterated an Outperform rating, raising the price target to US$35 from US$31.

Wedbush analysts had a similar viewpoint, forecasting increased profitability ahead.

“We think FY:18 revenues will track higher than guidance, allowing Turtle Beach the flexibility to (1) pay down a significant portion of its debt, with free cash remaining to invest into (2) expanding its PC gaming headset portfolio,” wrote analysts.

The popularity of Fortnite and PlayerUnknown’s Battlegrounds contributed to the earnings beat but analysts are hopeful that the upwards trend may continue as new battle royale-style games are introduced in the fall.

The month of October will bring with it the release of Call of Duty: Black Ops 4 and Battlefield 5.

Wedbush analysts reiterated an Outperform rating, raising its price target to US$42 from US$31.

The company recently signed a deal as the official esports and gaming headset partner for Manchester City eSports team. The team’s pro players will use Turtle Beach’s Elite Pro line of audio equipment and other accessories.

--Updated to include analyst commentary and updated share price

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Mon, 06 Aug 2018 16:35:00 -0400 https://www.proactiveinvestors.com/companies/news/202319/turtle-beach-crushes-second-quarter-estimates-as-rise-of-fortnite-and-pubg-boosts-demand-for-headsets-202319.html
<![CDATA[News - Oppenheimer raises Turtle Beach price target on headset demand from video gaming space ]]> https://www.proactiveinvestors.com/companies/news/201481/oppenheimer-raises-turtle-beach-price-target-on-headset-demand-from-video-gaming-space-201481.html Oppenheimer analysts raised their price target for the San Diego gaming headset and audio accessory company Turtle Beach Corp. (NASDAQ:HEAR) to US$31 from US$12 citing “many tailwinds” in the video game space.

The analysts reiterated an Outperform rating on Turtle Beach and told clients the gaming headset maker offered a “long-term growth” opportunity.

“We've talked for many quarters about how key trends in video game are favorable to Turtle Beach-esports, streaming, and the rise of multi-player games — each calls for more headsets sales. Hardcore gamers have known this; Fortnite and PUBG proved to the casual gamers that headsets are necessary to excel in games,” wrote Oppenheimer analysts Andrew Uerkwitz and Martin Yang in a research note released Monday.

“We increase our 2018 estimates above guidance as we see these trends picking up speed as we head into the back half of the year … We recognize valuation is becoming rich, but with continued balance sheet improvements and favorable market trends, we reiterate our Outperform rating,” they added.

READ: Turtle Beach 1Q earnings beat the Street on strong headset revenue, shares soar

The analysts said Turtle Beach was “fully turned around” and “readying for long-term growth.”

“The company has many tailwinds in the video game space and we believe a premium multiple is warranted. We raise our target to $31,” wrote the analysts.

Investment thesis

The analysts viewed Turtle Beach as an attractive way to play two investment ideas.

“First, the resurgence in video games and the accompanying rise in multiplayer online games, and second, HyperSound, a "directed audio" technology on the cusp of commercialization. We predict stable growth in 2018. This primarily reflects bullish video game industry expectations,” wrote Uerkwitz and Yang.

Turtle Beach has called out two particular games, Fortnite and PUBG, as the primary driver behind revenue growth.

“We believe these games are continuing to do extremely well. Moreover, retail is focusing on peripherals as sources of growth, which should help near-term sell-in,” wrote the analysts.

Shares in Turtle Beach dropped 7.5% to US$26.54 amid a broader pullback in the tech-laden Nasdaq.

Contact Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive

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Tue, 24 Jul 2018 15:36:00 -0400 https://www.proactiveinvestors.com/companies/news/201481/oppenheimer-raises-turtle-beach-price-target-on-headset-demand-from-video-gaming-space-201481.html
<![CDATA[News - Turtle Beach 1Q earnings beat the Street on strong headset revenue, shares soar ]]> https://www.proactiveinvestors.com/companies/news/196769/turtle-beach-1q-earnings-beat-the-street-on-strong-headset-revenue-shares-soar-196769.html Shares of Turtle Beach Corp. (NASDAQ:HEAR) soared on Thursday after the San Diego gaming headset and audio accessory company posted first-quarter earnings that handily beat Wall Street analyst expectations.

Turtle Beach popped 78.5% to US$12.39 at 11.25 am ET.

For the quarter ended March 31, the company booked earnings of US$0.16 per share on revenue of US$40.9mln. The consensus earnings estimate was for breakeven results on revenue of US$40mln. Revenue grew 184.9% on a year-over-year basis from US$14.4mln in 2017.

Turtle Beach which had previously guided for earnings of around US$29mln blew past its own estimates.

READ: Shares of Turtle Beach soar after preliminary first-quarter earnings beat forecast

"As indicated in our pre-announcement, we delivered substantial growth in our first quarter, both relative to last year and our prior outlook," said Juergen Stark, CEO, Turtle Beach.

"This growth was due to market share gains on top of a very strong overall market, propelled by the successes of Fortnite and PlayerUnknown's Battlegrounds, as these games have driven new gamers into the market and much higher headset attach rates than we have historically experienced.”

Increased outlook

"We expect the momentum from this strong market to continue and have raised our 2018 financial outlook accordingly,” said Stark.

The company said it expects a second quarter loss of around US$0.05 per share on revenue of approximately US$48mln. The current consensus estimate is a loss of US$0.52 per share on revenue of US$21.7mln for the quarter ending June 30, 2018.

The company also raised its full year outlook and said it expects 2018 earnings of approximately US$0.95 per share on revenue of around US$205mln. The current consensus earnings estimate is US$0.37 per share on revenue of US$170.5mln for the year ending December 31, 2018. 

Lake Street Capital Markets research analyst Mark Argento reiterated a Buy rating on Turtle Beach and told clients the gaming headset maker offered a “select growth opportunity.”

 

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Thu, 10 May 2018 11:44:00 -0400 https://www.proactiveinvestors.com/companies/news/196769/turtle-beach-1q-earnings-beat-the-street-on-strong-headset-revenue-shares-soar-196769.html
<![CDATA[News - PRE-MARKET MOVERS: Turtle Beach makes a splash, Hudson Technologies take a plunge ]]> https://www.proactiveinvestors.com/companies/news/196743/pre-market-movers-turtle-beach-makes-a-splash-hudson-technologies-take-a-plunge-196743.html As futures point to a mixed Wall Street start, a number of stocks were in play, including Turtle Beach Corporation (NASDAQ:HEAR).

Its shares surged over 67% to US$11.62 in pre-market as it posted record first quarter numbers and a significantly increased 2018 outlook.

Net income in the quarter was up to US$2mln or US$0.16 per share, compared to a net loss of US$9.9mln, or a loss of US$0.81 per share in the same period last year.

Going the other way was Hudson Technologies (NASDAQ:HDSN), which plunged over 15% to US$3.48 before the New York bell, as it posted first quarter revenues of US$42.4mln.

Roku Inc (NASDAQ:ROKU) was another stock in focus in pre-market, with shares up 7.26% to US$38.70.

The audio and video streaming group lost less money than Wall Street had expected, with the loss per share of US$0.07, excluding items against consensus expectations for a loss of US$ 0.15.

Finally, Everspin Technologies (NASDAQ: MRAM) is up 13.21% in pre-market deals to US$8.40, as the firm earlier posted a first quarter EPS (earnings per share) of US$0.09, which was US$0.33 better than the analysts' estimates of US$0.42.

Revenue for the quarter came in at US$14.9mln, which was a big beat against the consensus estimate of US$9.6mln.

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Thu, 10 May 2018 07:46:00 -0400 https://www.proactiveinvestors.com/companies/news/196743/pre-market-movers-turtle-beach-makes-a-splash-hudson-technologies-take-a-plunge-196743.html
<![CDATA[News - Shares of Turtle Beach soar after preliminary first-quarter earnings beat forecast ]]> https://www.proactiveinvestors.com/companies/news/194548/shares-of-turtle-beach-soar-after-preliminary-first-quarter-earnings-beat-forecast-194548.html Shares of Turtle Beach Corp. (NASDAQ:HEAR) climbed after the gaming-headset and audio-accessory company said first-quarter earnings probably beat its forecast.

The stock gained 46% to US$3.73 at 11:12 a.m.

Turtle Beach’s first-quarter preliminary earnings before interest, tax and depreciation are expected to be between US$3.5mln and US$4.5mln, the firm said today in a statement. That’s ahead of its prior forecast of US$1.5 mln.

The San Diego-based company also expects to report first-quarter revenue ranging between US$39.5mln and US$40.5mln. It previously forecast US$29mln.

“The strong start we experienced early in the first quarter has accelerated, further increasing our significant Q1 growth," Chief Executive Officer Juergen Stark said in the statement.

 

 

 

 

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Mon, 09 Apr 2018 11:15:00 -0400 https://www.proactiveinvestors.com/companies/news/194548/shares-of-turtle-beach-soar-after-preliminary-first-quarter-earnings-beat-forecast-194548.html
<![CDATA[News - Turtle Beach claims tinnitus advance with hearing system ]]> https://www.proactiveinvestors.com/companies/news/124646/turtle-beach-claims-tinnitus-advance-with-hearing-system-124646.html A San Diego firm has claimed a breakthrough in the treatment of hearing disorder tinnitus.

Turtle Beach Corporation (NASDAQ:HEAR) believes its HyperSound Clear 500P directed audio system may have the potential to help people living with the condition of "ringing in the ears."

Launched last year for people having trouble hearing their TV, HyperSound technology generates a directional, narrow beam of audio in the air that can be pointed to a very specific location.

Turtle Breach said that a study of 11 patients with chronic Tinnitus who sat in the HyperSound Clear 500P's directed audio beam, experienced impressive reductions in Tinnitus loudness and annoyance.

Around 15% of the US or more than 50mln Americans – experience some form of the disease.

“These are early findings and there's certainly more research and product development to be done, but even preliminarily, this is great news for the hearing healthcare market," said Ritvik Mehta, founder and medical director of the California Hearing & Balance Cente, that conducted the study.

Turtle Beach will show a prototype version of its new Tinnitus add-on feature for the HyperSound Clear 500P at this year's AudiologyNOW! Convention and Expo. 

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Mon, 11 Apr 2016 10:12:00 -0400 https://www.proactiveinvestors.com/companies/news/124646/turtle-beach-claims-tinnitus-advance-with-hearing-system-124646.html
<![CDATA[News - Turtle Beach expects Q4 sales at low end of guidance ]]> https://www.proactiveinvestors.com/companies/news/121551/turtle-beach-expects-q4-sales-at-low-end-of-guidance-121551.html Turtle Beach (NASDAQ:HEAR), an audio technology company, said it expects the 2015 holiday season’s headset revenue will be at the low end of its guidance.

Headset revenue is expected to range between US$82mln to US$84mln in the fourth quarter, the San Diego, California-based company said in a statement on Wednesday.

"We're pleased with our 2015 results, particularly in light of the impact of the strong dollar on our international business and a more rapid than expected decline in old-gen revenues,” CEO Juergen Stark said in the statement.

"We completed our new-gen product portfolio, launching five new core models in Q4,” he added.

The company said consolidated revenue is expected to grow modestly in 2016.

Turtle anticipates 15-20% year-over-year revenue growth in new-gen headsets and HyperSound businesses combined with 12-16% growth in new-gen headset revenues, increasing from US$125 million to US$140 to US$145 million.

The company’s top executive said that for 2016, he believes that old-gen headsets will take a final, large drop, offset by good growth in the company’s new-gen headset business plus strong growth in its HyperSound revenues.

Shares of Turtle Beach have lost half their value over the past twelve months, leaving the company with a market value of US$62.9mln.

 

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Wed, 20 Jan 2016 09:12:00 -0500 https://www.proactiveinvestors.com/companies/news/121551/turtle-beach-expects-q4-sales-at-low-end-of-guidance-121551.html