SAN DIEGO, CA — (Marketwired) — 09/10/13 — Parametric Sound Corporation (NASDAQ: PAMT), a leading innovator of audio products and solutions, today announced that its proprietary audio technology is being marketed to and evaluated by banks and hardware providers and consultants within the retail banking sector.
HyperSound allows banks to transform their branches by enhancing their digital place-based media with customized audio, and supports their efforts to strengthen brand loyalty and cross-sell product offerings. HyperSound-enabled digital signage can be placed in many areas within and around the bank to engage banking customers. Potential locations currently being evaluated by the sector include the entry, foyer, teller and private client areas, drive-throughs, and ATM locations. The Company believes ongoing banking pilot installations demonstrate the ability to enhance customer engagement at these types of locations. HyperSound allows a banking institution to deliver audio to specific, targeted areas without creating sound bleed into adjacent zones.
“Enhancing digital signage with directional audio offers a compelling product bundle,” said Todd Savitt, Vice President, Sales and Marketing, Parametric Sound. “We are aggressively pursuing opportunities that enable banks to engage with customers quickly and with more effective and diverse messages. Our focus on the banking sector follows positive reception we have received in retail and restaurant sectors of the large and rapidly growing digital signage market.”
HyperSound delivers high fidelity audio in a directional beam using thin sound emitters — a radical innovation in speaker technology. Currently used in commercial applications including retail digital signage, the innovative technology is expected to have transformative applications in video game audio, personal computers, mobile devices, televisions and home theater. The Company-s patented and patent-pending technology continues to demonstrate positive results for those with hearing deficiencies and shows strong potential for future health care applications.
Parametric Sound Corporation is a 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. Distinct from surround sound, HyperSound immerses listeners in a robust 3D audio experience from just two speakers. The Company-s disruptive technology is being marketed to three global market sectors: Consumer Markets — for PCs, gaming, TVs, home theater and handhelds, Commercial Markets — for digital signage, kiosks and retail stores, and Health Care — for an out-of-ear solution being developed for the hearing impaired. For more information about directed audio solutions please contact Todd Savitt, VP Sales and Marketing () or visit the Company-s website at .
This press release includes forward-looking information and statements. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding 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 expectations are based upon reasonable assumptions, there can be no assurances that goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include uncertainties regarding the ability to obtain and retain customers in target sectors in a timely manner, the acceptance of existing and future products, the impact of competitive products and pricing, unanticipated delays in manufacturing and shipping products to customers, the timing and scheduling of customers- rollout plans, 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. The Company specifically disclaims any obligation to update or revise any forward-looking statement whether as a result of new information, future developments or otherwise.
INVESTOR CONTACT:
Tracy Neumann
888-HSS-2150, Ext 509
or
SALES INQUIRIES CONTACT:
Todd Savitt
888-HSS-2150, Ext 524
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