Turtle Beach (HEAR) Misses Q2 EPS by 71c
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Turtle Beach Reports Second Quarter 2016 Results
August 8, 2016 4:07 PM EDTSAN DIEGO, Aug. 8, 2016 /PRNewswire/ -- Turtle Beach Corporation (NASDAQ: HEAR), a leading audio technology company, reported financial results for the second quarter ended June 30, 2016.
Second Quarter Summary vs. Same Year-Ago Quarter
Net revenue increased 30% to $29.4 million with headset net revenue up 29% to $29.1 million. Gross profit increased 50% to $5.1 million with headset gross profit up 97% to $7.1 million and headset gross margin up 840 basis points to 24.5%. Operating expenses were $45.6 million compared to $16.0 million, including a $31.2 million non-cash goodwill impairment charge related... More