Turtle Beach (HEAR) Tops Q2 EPS by 4c, Beats on Revenues

Turtle Beach (NASDAQ: HEAR) reported Q2 EPS of ($0.14), $0.04 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $19.1 million versus the consensus estimate of $17.47 million.

Second Quarter Summary vs. Year-Ago Quarter:

• Net revenue of $19.1 million versus $29.4 million, reflecting the expected lingering impact from higher holiday channel inventory.
• Gross margin improved to 33.0% compared to 17.4%. Excluding $0.7 million in non-recurring savings, Q2-17 gross margin was approximately 29.2%.
• Operating expenses were reduced to $11.3 million compared to $45.6 million ($14.4 million excluding $31.2 million asset impairment charge).
• Net loss improved to $7.1 million, or $(0.14) per share, compared to a net loss of $42.6 million, or $(0.86) per share (net loss of $11.4 million or $(0.23) per share excluding impairment).
• Adjusted EBITDA improved to $(2.8) million compared to $(6.3) million.

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

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