Parametric Sound: 2Q Earnings Snapshot
SAN DIEGO (AP) _ Parametric Sound Corp. (HEAR) on Monday reported second-quarter net income of $6.3 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the San Diego-based company said it had profit of 40 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The audio technology company posted revenue of $60.8 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $47.9 million.
For the current quarter ending in October, Parametric Sound said it expects revenue in the range of $65 million.
The company expects full-year earnings to be 95 cents per share, with revenue expected to be $205 million.
Parametric Sound shares have increased sixteenfold since the beginning of the year. In the final minutes of trading on Monday, shares hit $30.35, climbing elevenfold in the last 12 months.