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Turtle Beach revenue drops, "in-line with expectations"

Net loss for Q1 2015 of $10.6 million

Audio peripherals company Turtle Beach, known for its collaborations with brands like Call Of Duty, has reported a net revenue of $19.7 million for Q1 2015, compared $38.3 million for Q1 2014.

Turtle Beach's financial reports show a net loss for Q1 2015 of $10.6 million, compared to $2.9 million in Q1 2014. Gross profit for Q1 2015 was $3.1 million, compared to $12.3 million for the same period last year.

"Our first quarter results on an operating basis were in-line with our expectations," said CEO Juergen Stark

"Our performance versus guidance was driven by sales of our Xbox One and PlayStation 4 headsets, several of which feature first-and-only innovations, offset by declining demand for previous generation products. This dynamic will continue to shape our top-line until the next generation console user base surpasses the previous generation later this year.

"Despite this near-term headwind, we are confident that our audio engineering and product development expertise, leading placement at retail, and strong brand affinity among the gaming community have us well-positioned to benefit from the positive industry trends expected in the coming years from the console transition cycle."

Rachel Weber avatar

Rachel Weber

Senior Editor

Rachel Weber has been with GamesIndustry since 2011 and specialises in news-writing and investigative journalism. She has more than five years of consumer experience, having previously worked for Future Publishing in the UK.