Parametric Sound Provides Business Update
SAN DIEGO, CA, Mar 25, 2013 (MARKETWIRE via COMTEX) -- Parametric Sound
Corporation (PAMT), a leading innovator of audio products and solutions, today
provided outlook for FY2014. The Company announced that it is expecting to be
cash flow positive from operations for 2014 from its core digital signage and
licensing business.
"We have been able to advance strategic licensing discussions and we have
achieved success on several recent digital signage pilot projects that we expect
will translate to high volume customer orders late in 2013 and in 2014. As a
result, we anticipate that we will be operating cash flow positive in 2014," said
Ken Potashner, executive chairman. "The possible volumes associated with product
rollouts have exceeded our internal projections for digital signage. We expect
the investments we are making in 2013 to build this business for 2014 growth will
result in quarterly performance for the balance of 2013 consistent with prior
communications.
"Further strengthening our outlook for 2014 is important progress on the
licensing front, as we are now in negotiations with several market leading
prospects in key market verticals. We expect the combination of product sales and
future IP license revenue should result in strong future growth. We are very
pleased with our accomplishments in both areas."
The focus of the Company's business activities is on the global commercialization
of HyperSound(TM) products in conjunction with licensing the Company's IP to
consumer electronic manufacturers. It has established a sales and marketing
channel with the capabilities to exploit the market potential of HyperSound
products and is in discussions with several companies regarding licensing its IP
or pursuing other strategic relationships.
About Parametric Sound Corporation Parametric Sound Corporation is a pioneering
innovator of directed audio solutions. With a substantial body of intellectual
property, Parametric Sound is the leading authority in the application of
acoustic technology to beam sound to target a specific listening area without the
ambient noise of traditional speakers. The Company is targeting its technology
for new uses in consumer markets including computers, video gaming, televisions,
home audio, health care and mobile devices. For more information, visit
parametricsound.com.
Trademark Information: HyperSound is a tradename of, Parametric Sound. All other
trade names used herein are either trademarks or registered trademarks of the
respective holders.
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 may constitute
forward-looking statements regarding 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 expectations are based upon
reasonable assumptions, there can be no assurances that goals and strategy will
be realized. Numerous factors, including risks and uncertainties, may affect
actual results and may cause results to differ materially from those expressed in
forward-looking statements made by the Company or on its behalf. Some of these
factors include the uncertainties inherent in projecting future results, timing
of licensing activity, unanticipated delays in shipping products to customers,
including manufacturing problems and timing and scheduling of customers' rollout
plans, the ability to obtain and retain customers in target markets in a timely
manner, the acceptance of existing and future products, the impact of competitive
products and pricing, 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. The Company specifically disclaims any obligation to update
or revise any forward-looking statement whether as a result of new information,
future developments or otherwise.
CONTACT:
Tracy Neumann
888-HSS-2150 Ext 509
tneumann@parametricsound.com
or
INVESTOR RELATIONS CONTACT:
Dave Mossberg
Three Part Advisors, LLC
817 310-0051
SOURCE: Parametric Sound Corporation
mailto:tneumann@parametricsound.com |
