Parametric Sound Reports Quarterly LossWednesday, May 23, 2012
Parametric Sound Corp. — which offers audio technology for digital signage, kiosks and related uses — recently reported a net loss of $961,297 for its second quarter, which ended March 31. Revenue for the quarter was $59,694.
In the year-ago quarter, the Poway-based company reported a net loss of $375,313 and no comparable revenue.
Parametric Sound split off from LRAD Corp. in 2010. LRAD makes high decibel, directed audio devices used by police and military forces.
In late March, Parametric completed a secondary public offering of 1,888,888 shares of common stock for $4.50 per share, for gross proceeds of $8.5 million. Net proceeds for the company were $7.3 million. The underwriter exercised its over-allotment option in May, purchasing 164,512 shares for gross proceeds of $740,304.
Parametric stock trades on the Nasdaq as PAMT.