LRAD Corp., maker of devices that can send a highly concentrated beam of sound in a single direction, released its annual financial results on Dec. 3.
The Rancho Bernardo business reported net income of $9.6 million on total revenues of $16.8 million in fiscal 2015, which ended Sept. 30. Giving the net income an extra boost was an $8.3 million income tax benefit.
In fiscal 2014, LRAD (Nasdaq: LRAD) reported net income of $3.3 million on total revenues of $24.6 million. The company had an income tax expense of about $16,000 that year.
LRAD sells to militaries and public safety agencies, and also makes mass-notification devices able to send sound in all directions.
Also on Dec. 3, the business announced a penny per share dividend and announced it was buying back $4 million worth of stock.
The company had a market capitalization of $51 million as of Nov. 25.
Tom Brown is CEO.
