SOURCE: Parametric Sound Corporation

Parametric Sound Corporation

February 18, 2014 16:00 ET

Parametric Sound Announces Change to Fiscal Year End

New Post-Merger Reporting Schedule to Commence First Calendar Quarter 2014

SAN DIEGO, CA--(Marketwired - Feb 18, 2014) - Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of audio products and solutions, reported today that the company's fiscal year end changed from September 30 to December 31 on January 15, 2014 in connection with the closing of the acquisition of VTB Holdings, Inc. by the company. 

As previously reported, on or before March 27, 2014 Parametric Sound plans to amend its Current Report on Form 8-K filed on January 16, 2014 to include unaudited pro forma financial information of the combined companies as of and for the year ended December 31, 2013 along with audited financial statements for VTB Holdings, Inc. and its subsidiaries. Juergen Stark, Chief Executive Officer, and John Hanson, Chief Financial Officer, intend to host a conference call following the amendment to provide a business update and discuss the outlook for 2014.

About Parametric Sound

Parametric Sound Corporation is an audio technology company that markets innovative products under the Turtle Beach and HyperSound brands.

The company designs and markets premium audio peripherals for video game consoles, personal computers and mobile devices under the brand Turtle Beach (TurtleBeach.com), including officially-licensed headsets for the next-generation Xbox® One and PlayStation® 4 consoles. Turtle Beach is the leading brand in video game audio and the official audio provider for Major League Gaming, the world's largest eSports league, and Twitch, the world's leading video platform and community for gamers.

Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that beam sound to a specific listening area without the ambient noise of traditional speakers. HyperSound has applications in digital signage and kiosks, consumer electronics and health care.

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