SAN DIEGO, California, October 10, 2013 – Parametric Sound Corporation (Nasdaq: PAMT), a leading innovator of audio products and solutions, today announced that Todd Savitt, vice president of sales and marketing, has been appointed as an executive officer of the company and will lead commercial sales and marketing efforts. Mr. Savitt, who joined the company in July 2013, brings with him more than 15 years of sales, business development and marketing experience within the audio visual and digital signage marketplace.
Savitt will be responsible for developing and executing the implementation of strategic sales and marketing initiatives to accelerate the growth and profitability of HyperSound™, the world’s premier directional audio system for digital signage, kiosk and other applications. He has played a key role in launching and pioneering several technology businesses, including the introduction and branding of the world’s first video and data projector. In his previous position, Savitt was vice president of sales and marketing at Mendtronix, Inc., a privately-held company focused on providing logistic services for the leading manufacturers of audio visual equipment in the digital signage and presentation markets.
“I am excited to be part of the pioneering efforts to broadly commercialize HyperSound,” said Todd Savitt. “Based on the success of numerous product demonstrations and pilot results with worldwide customers, we are accelerating distribution of HyperSound through a channel strategy targeting the world’s leading audio visual commercial integrators. We recently recruited Alpha Video and Audio, CCS Presentation Systems, and CompView Audio Visual to represent our HyperSound-directed audio solutions in numerous vertical markets.”
“Todd has demonstrated his ability to execute on our commercial business sales strategy by leveraging distribution through AV integrators. He has an impressive background in sales and business development coupled with demonstrated success in driving strategy. His vision and performance make him an ideal candidate to lead our commercial sales and marketing efforts,” said Ken Potashner, executive chairman of Parametric Sound.
About Parametric Sound Corporation
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 please visit the Company’s website at 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 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 execute our marketing and sales strategies, 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.
PARAMETRIC SOUND CONTACT:
888-HSS-2150, Ext 509
INVESTOR RELATIONS CONTACT:
Three Part Advisors, LLC