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Parametric Sound Adds Healthcare to Target Markets for HyperSound(TM)Innovative Technology Enhances Listening Experience (May 07, 2012)
POWAY, CA -- (Marketwire) -- 05/07/12 -- Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of directed audio products and solutions, today announced that it has identified healthcare as an additional large market segment for its patented audio technology. HyperSound's ability to provide directional sound allows listeners the opportunity to completely immerse themselves in sound without the use of headphones or in-the-ear amplifiers.
"The healthcare market should grow into a strong opportunity for the company's intellectual property assets and we look forward to launching it through key strategic partnerships," said Ken Potashner, executive chairman. "We believe HyperSound delivers a compelling audio experience and foresee wide-spread adoption of our technology as audio standards are now raised to a new level."
It is estimated that 36 million Americans suffer from hearing loss. The swelling ranks of fifty- and sixty-something baby boomers are gradually losing some hearing and in need of mild-to-moderate hearing assistance in some environments. Today's solutions are limited in that they often provide too much amplification in the lower frequencies and too little in the needed higher frequencies. HyperSound technology allows a consumer to experience a richer, more robust listening experience through the entire range of frequencies.
About Parametric Sound Corporation
A 2010 corporate spin-off created Parametric Sound Corporation, the pioneering innovator of directed audio solutions. With a substantial body of intellectual property, Parametric Sound is the foremost authority in the application of acoustic technology to beam sound to target a specific listening area without the ambient noise of traditional speakers. The Company recently introduced improved HSS-3000 product models targeting digital signage, kiosk and related applications. Recent innovations produce a distinctive 3D audio image from just two speakers opening opportunities for 3D sound solutions for computers and entertainment. For more information, visit www.parametricsound.com.
Cautionary note on forward-looking statements
This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release, including those by Mr. Potashner, may constitute forward-looking statements regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events that are based on management's belief, as well as assumptions made by, and information currently available to, management. While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that the Company's goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect the Company's actual results and may cause results to differ materially from those expressed in forward-looking statements made by or on behalf of the Company. Some of these factors include the acceptance of new Parametric Sound products and technologies, the impact of competitive products and pricing, the timely development and release of products by the Company, general business and economic conditions, and other factors detailed in the Company's Annual Report on Form 10-K and other periodic reports filed with the SEC. Parametric Sound Corporation specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
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