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Parametric Sound beats 4Q profit forecasts

VALHALLA, N.Y. (AP) _ Parametric Sound Corp. (HEAR) on Wednesday reported fourth-quarter net income of $12.2 million, after reporting a loss in the same period a year earlier.

The Valhalla, New York-based company said it had profit of 25 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.

The audio technology company posted revenue of $82.2 million in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $83.5 million.

For the year, the company reported that its loss widened to $87.2 million, or $1.79 per share. Revenue was reported as $174 million.

In the final minutes of trading on Wednesday, the company's shares hit $1.41. A year ago, they were trading at $1.16.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HEAR at https://www.zacks.com/ap/HEAR


Keywords: Parametric Sound, Earnings Report