This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

LRAD Corporation Announces Fiscal Q1 2013 Results

Stocks in this article: LRAD

SAN DIEGO, Feb. 6, 2013 (GLOBE NEWSWIRE) -- LRAD Corporation (Nasdaq:LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), today announced revenues of $3.0 million and a net loss of $100,000, or $(0.00) per share, for its first fiscal quarter ended December 31, 2012.

"Our fiscal Q1 2013 results were affected by the uncertainty surrounding the federal budget process, which is expected to continue through at least the second fiscal quarter," commented Tom Brown, the Company's president and chief executive officer. "We are encouraged, however, by the foreign orders received to date, which indicate continued demand for our proprietary acoustic hailing devices and a strong fiscal year for international LRAD® sales. Consistent with our commitment to create long-term stockholder value we are pursuing a diverse range of market opportunities and applications. Two years ago, we had sold LRADs into 35 countries. Today, LRAD systems are deployed in over 60 nations around the world."

Brown added, "We anticipate fiscal 2013 financial results will improve over fiscal 2012 due to continued international sales growth."

Revenues for fiscal Q1 2013 decreased 17% from $3.6 million recorded in fiscal Q1 2012, due to a decrease in U.S. military orders and the timing of shipments.

Gross profit for fiscal Q1 2013 was $1.5 million, or 50% of revenues, compared to $1.7 million, or 48% of revenues, for the same period a year ago. The decrease in gross profit was primarily due to lower revenues and higher contracted annual maintenance costs, offset by higher product margins as a percentage of sales due to favorable product mix.

Operating expenses for fiscal Q1 2013 were $1.6 million, an 11% increase from $1.4 million recorded in fiscal Q1 2012, related to legal fees associated with a recent lawsuit, non-cash share-based compensation expense and R&D costs.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs