Turtle Beach (HEAR) Tops Q1 EPS by 3c, Offers Q2 & FY Guidance
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Turtle Beach Reports First Quarter 2016 Results
May 10, 2016 4:06 PM EDTSAN DIEGO, May 10, 2016 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), a leading audio technology company, reported financial results for the first quarter ended March 31, 2016.
First Quarter Highlights vs. Same Year-Ago Quarter
Net revenue increased 22% to $24.0 million with headset net revenue up 21% to $23.7 million. Gross profit increased 8% to $3.4 million with headset gross profit up 42% to $4.7 million (headset gross margin up 290 basis points to 19.9%). Operating expenses were reduced by 16% to $13.1 million. Consolidated... More