WHITE PLAINS, N.Y. (AP) _ Turtle Beach Corp (HEAR) on Wednesday reported first-quarter net income of $8.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the White Plains, New York-based company said it had net income of 49 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 52 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The audio technology company posted revenue of $93.1 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $88.1 million.
For the current quarter ending in July, Turtle Beach expects its per-share loss to be 7 cents.
The company said it expects revenue in the range of $70 million for the fiscal second quarter.
Turtle Beach expects full-year earnings to be $1.50 per share, with revenue expected to be $385 million.
Turtle Beach shares have climbed 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $27.40, more than doubling in the last 12 months.
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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
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