NEW YORK (TheStreet) -- Parametric Sound
(PAMT) is up 12.0% to $13.38 in early market trading on Friday, continuing the climb it started in aftermarket trading Thursday.
This jump comes after the audio technology company updated its post merger outlook in a conference call Thursday evening. The company had previously filed its Form 8-K on January 16, one day after it officially completed its merger with headphone maker Turtle Beach.
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"We are very excited about the strong prospects we believe exist for our Turtle Beach and HyperSound businesses," said Juergen Stark, CEO of Parametric Sound. "The recent merger has created a company with significant growth opportunities in consumer, commercial and healthcare audio."
Turtle Beach specializes in audio devices used for videogames and the company was the first to market with three XBox One headphones this year. Parametric Sound believes that now that the fourth generation gaming consoles are fully out on the market, Turtle Beach is in a position to make gains on last year's numbers.
"The gaming industry experienced a cyclical event last year as Microsoft (MSFT) and Sony (SNE) each introduced new consoles for the first time in eight years," said Stark. "The temporary headwinds we experienced throughout most of last year, as consumers delayed purchases in advance of the introduction of new consoles, have begun to ease."
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