LRAD Reports Q3 Revenue of $4.1 MillionThursday, August 10, 2017
LRAD Corp., the Rancho Bernardo business that makes specialized acoustic products for the military, governments and industry, reported a net loss of $528,000 on revenue of $4.1 million in its third quarter, which ended June 30.
The same quarter one year ago brought net income of $277,000 on revenue of $5 million.
Revenues were lower than the prior year mostly because of an increase in orders for mass-notification devices, which typically have longer build cycles, LRAD said.
LRAD (Nasdaq: LRAD) reported selling, general and administrative expenses of $2.0 million in the recently ended quarter, up from $1.6 million in the year-ago quarter.
LRAD describes itself as a company that “develops and delivers innovative directed acoustic products that beam, focus and control sound over relatively short and long distances. By placing sound only where needed, we not only enhance many typical speaker applications, but we offer novel sound applications that conventional speakers cannot achieve.”
The business says one of its products can intelligibly communicate a message a distance of roughly 3.5 miles (5.5 meters).
The business said it received more than $3.2 million in orders from international markets in the recently ended quarter.
Richard Danforth is the company’s chief executive.