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Turtle Beach Q3 loss widens 59.9% YOY

Turtle Beach Corp. said its normalized net income for the third quarter was a loss of 16 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss widened 37.5% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.8 million, compared with a loss of $4.9 million in the prior-year period.

The normalized profit margin fell to negative 20.4% from negative 13.6% in the year-earlier period.

Total revenue increased 7.0% on an annual basis to $38.4 million from $35.9 million, and total operating expenses increased 16.5% year over year to $48.7 million from $41.8 million.

Reported net income totaled a loss of $44.8 million, or a loss of 91 cents per share, compared to a loss of $16.1 million, or a loss of 38 cents per share, in the year-earlier period.