On Wednesday, Shares of Hope Bancorp Inc (NASDAQ:HOPE), added 0.42% and closed at $19.13 in the last trading session. The last trading range of the stock ranges between $18.71 and $19.34. Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean-American bank in the United States with $13.5 billion in total assets as of September 30, 2016. Formed through the merger of BBCN Bank and Wilshire Bank, the top two commercial lenders in the market, Bank of Hope is headquartered in Los Angeles and serves a multi-ethnic population of customers across the nation. Bank of Hope operates 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, and Portland, Oregon; a commercial loan production office in Fremont, California; residential mortgage loan production offices in California; and a representative office in Seoul, Korea.
Turtle Beach Corp (NASDAQ:HEAR), jumped 1.34% and closed at $1.51 in the last trading session. The last trading range of the stock ranges between $1.46 and $1.56. The company’s Market capitalization is $70.10 million with the total Outstanding Shares of 49.25 million. – Turtle Beach Corporation (NASDAQ: HEAR), a leading audio technology company, stated financial results for the third quarter ended September 30, 2016.
Third Quarter Summary vs. Same Year-Ago Quarter:
Net revenue raised 7% (8% in constant currency) to $38.4 million with new-gen headset sales up 41%.
Counting a charge related to the HyperSound restructuring, gross margin was 10.2% contrast to 26.7%. Apart From the charge, gross margin raised 200 basis points to 28.7% with headset gross margin up 550 basis points to 33.3%.
Counting $0.81 per share in charges related to the HyperSound restructuring, net loss was $(44.8) million or $(0.91) per share, contrast to a loss of $(15.9) million or $(0.38) per share. Apart From the charges, net loss in the third quarter of 2016 improved to $(4.7) million or $(0.10) per share.
Merged adjusted EBITDA improved to $0.5 million contrast to $(3.3) million, with headset adjusted EBITDA improving to $3.4 million contrast to $0.3 million.
“The third quarter was yet again driven by strong gains in our new-gen headset portfolio, led by continued demand for our entry-level RECON series gaming headsets and initial sell-in of the STEALTH 520 wireless headset,” said Juergen Stark, CEO, Turtle Beach Corporation. “In fact, new-gen headset sales were up 41%, highlighting the continued strength of our portfolio, considering the year-ago quarter represented a noteworthynew-gen sell-in period.