Parametric Sound Business Update
HENDERSON, NV, May 23, 2011 (MARKETWIRE via COMTEX) -- Parametric Sound
Corporation (PAMT), a leading innovator of directed audio products and solutions,
announced that it has achieved important milestones and is on track to
commercialize its superior HSS(R)-III directed audio solution.
Recent progress, plans and events include:
--Completed testing of first production HSS-3000 directed audio systems,
including improved emitters and an all-new innovative 2-channel
electronic system providing true 3D sound.
--Delivery of first production equipment to key customers in advance of
quantity deliveries scheduled to begin early June.
--Collaborating with customers on targeted directed audio solutions
across a range of digital signage, point-of-purchase, in-store
network, kiosk and related applications. Representatives and OEMs are
rapidly increasing HSS-III product awareness among end users.
--Successful completion of electromagnetic emission testing to FCC
standards with safety clearances expected shortly for the North
American, European and Asian markets.
--Lease of a 3,500 square foot assembly and warehouse facility ideally
configured for efficient assembly of HSS-3000 systems. HSS-3000
systems are designed and assembled in the U.S. from parts and
components sourced worldwide.
--Employment of a full-time Director of Engineering instrumental in
producing our HSS-3000 model and now charged with implementing
important enhancements for future product versions.
--Purchasing and assembly responsibilities transitioning to a full-time
production position.
--Acquisition of a state-of-the-art robotic prototyping machine to
accelerate future development of products targeting important market
opportunities beyond digital signage.
--Demonstration of the improved audio output achieved by our new
HSS-3000 product at two important trade shows in Europe held over the
last ten days.
--Plans to increase product awareness by exhibiting new HSS-3000
products at InfoComm 2011, the influential audiovisual trade-show to
be held mid-June in Orlando. InfoComm showcases the latest
technologies for audio, video, display, digital signage, conferencing
and networking to a projected 32,000 attendees from all over the
world.
"We offer a compelling directed audio solution," said Elwood G. Norris, founder
and President of Parametric Sound. "We are pleased that our new design permits
simplified, economical yet reliable assembly. The enthusiasm from customers
experiencing HSS-III directed sound is encouraging and InfoComm 2011's June
timing coincides perfectly with our summer product rollout to both existing and
new customers worldwide."
About Parametric Sound Corporation Parametric Sound Corporation is an innovator
of directed audio solutions employing a tightly focused directional beam of sound
to target a specific listening area to communicate without the ambient noise of
traditional speakers. A substantial body of intellectual property and an
established customer base were inherited from a spin-off completed in September
2010. Important new technology is now being applied to an improved third
generation HyperSonic(R) sound product line -- HSS(R)-III directed audio. Recent
technology improvements produce a distinctive 3D audio image from just two stereo
HSS-III emitters opening opportunities for 3D sound solutions for computers and
entertainment. For more information about the Company and its products, please
visit: parametricsound.com.
Cautionary note on forward-looking statements This press release includes
forward-looking information and statements. Except for historical information
contained in this release, statements in this release, including those by Mr.
Norris, may constitute forward-looking statements regarding our assumptions,
projections, expectations, targets, intentions or beliefs about future events
that are based on management's belief, as well as assumptions made by, and
information currently available to, management. While the Company believes that
its expectations are based upon reasonable assumptions, there can be no
assurances that the Company's goals and strategy will be realized. Numerous
factors, including risks and uncertainties, may affect the Company's actual
results and may cause results to differ materially from those expressed in
forward-looking statements made by or on behalf of the Company. Some of these
factors include the acceptance of new Parametric Sound products and technologies,
the impact of competitive products and pricing, the timely development and
release of products by the Company, general business and economic conditions, and
other factors detailed in the Company's Annual Report on Form 10-K and other
periodic reports filed with the SEC. Parametric Sound Corporation specifically
disclaims any obligation to update or revise any forward-looking statement
whether as a result of new information, future developments or otherwise.
FOR FURTHER INFORMATION CONTACT:
Jim Barnes
CFO
888-HSS-2150 Ext 3
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