Parametric +6.9% AH on business update, sales forecasts

Parametric (PAMT) expects its Turtle Beach gaming headset unit (officially on the books as of Jan. 15) to post 2014 revenue of $210M-$230M, up 24% Y/Y at the midpoint. Sales of HyperSound hearing aids (just received FDA approval) are expected to be in a range of $1M-$4M; bigger sales are forecast for 2015.

Q1 sales are expected to be up 10% Y/Y. 2014 gross margin is expected to come in at 30% (+150 bps Y/Y), and adjusted EBITDA in a range of $20M-$25M.

Parametric plans to change its name to Turtle Beach in May, and its ticker to HEAR.

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