Turtle Beach (NASDAQ: HEAR) reported Q2 EPS of ($0.23), $0.05 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $22.6 million versus the consensus estimate of $24.38 million.

Turtle Beach sees Q3 2015 revenue of $30-35 million.

"We've made great progress over the past months on several important initiatives which we believe position the Company for long-term success," said Juergen Stark, Chief Executive Officer, Turtle Beach Corporation. "We strengthened our portfolio of leading next generation compatible gaming headsets with the introduction of multiple new innovative products. This holiday season we expect to once again have the broadest, most advanced offering of Xbox One and PlayStation 4 headsets available in the market which will help offset the continued decline in demand for previous generation products. With regard to HyperSound Clear, early feedback has been overwhelmingly positive, which bodes well for us as we prepare to commercially launch this first-of-its-kind directed audio solution for people with hearing loss later this year. Further, we've recently announced multiple distribution partnerships with the nation's leading hearing healthcare groups that service and provide product to the majority of audiologists and hearing healthcare professionals across the U.S. Finally, following the end of the quarter in July 2015, we secured $15 million in financing, which along with the related amendment to our sub-debt, provides us with $28.8 million in long-term debt in addition to our $60 million working capital line. With our improved capital structure in place, we are now better positioned to fund our annual working capital needs and focus on capitalizing on the many high value growth opportunities that exist for both of our businesses."

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