Turtle Beach (HEAR) Tops Q1 EPS by 4c

Turtle Beach (NASDAQ: HEAR) reported Q1 EPS of ($0.20), $0.04 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $14.4 million versus the consensus estimate of $12.48 million.

• Net revenue of $14.4 million versus $24.0 million, reflecting the expected impact from higher holiday channel inventory.
• Gross margin improved 140 basis points to 15.4% compared to 14.0%, with headset gross margin of 19.5% versus 19.9%.
• Operating expenses were reduced by 22% to $10.3 million.
• Net loss improved to $9.9 million, or $(0.20) per share, compared to a net loss of $12.0 million, or $(0.26) per share.
• Adjusted EBITDA improved to $(6.2) million compared to $(6.3) million.

For earnings history and earnings-related data on Turtle Beach (HEAR) click here.

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