lrad corp (LRAD) Key Developments
LRAD Corporation Receives Order of Approximately $300,000 for LRAD 500X Systems and Accessories from the United States Army
Jun 26 14
LRAD Corporation announced the receipt of an order of approximately $300,000 for LRAD 500X systems and accessories from the United States Army ('Army'), for ongoing operations in Afghanistan. The LRAD 500X units will be mounted on Army vehicles, towers and checkpoints and will be used to support the troops in communication efforts and to provide a safety zone for Army personnel. The order is scheduled to ship by September 30, 2014. The LRAD 500X is designed to produce highly intelligible speech transmissions over 2,000 meters, and can be heard at a range of 650 meters over 88 dB of background noise such as the sound produced by a car, truck or motorcycle engine. By allowing for clear communication over these distances, the LRAD 500X helps Army personnel to determine intent, and escalate the response if necessary by producing a deterrent tone that can reach 149 dB (at one meter) thereby influencing or changing behavior, and saving lives.
LRAD Corporation Receives $1.7 Million Order from an International Navy in Southeast Asia
Jun 17 14
LRAD Corporation announced the receipt of a $1.7 million order for LRAD-RX systems and accessories from an international navy in Southeast Asia. The LRAD-RX units will be mounted on vessels in the country's fleet, and used for various naval applications. An initial $950,000 is scheduled to ship by September 30, 2014, with the balance to be shipped as new vessels are built and commissioned.
LRAD Corporation Presents at Third Annual Marcum MicroCap Conference, May-29-2014 04:00 PM
May 27 14
LRAD Corporation Presents at Third Annual Marcum MicroCap Conference, May-29-2014 04:00 PM. Venue: Grand Hyatt New York, 109 East 42nd Street, New York, NY 10017, United States. Speakers: E. Brian Harvey, Director of Investor Relations and Capital Markets.
LRAD Corporation Introduces the LRAD Mobile Sound Barrier
May 14 14
LRAD Corporation announced the launch of the LRAD Mobile Sound Barrier. The LRAD Mobile Sound Barrier is a vehicle mounted speaker system that can be secured to any armored vehicle, VIP vehicle, or other government or corporate vehicle, to create a 360deg deterrent zone to safely and effectively warn and ward off threats. Two initial orders have been received from a U.S. Government agency and additional development costs are being absorbed by the customer in order to customize the product for permanent mounting on certain government vehicles. The LRAD Mobile Sound Barrier is remotely operated from inside the vehicle, and a magnetic mounting option allows for quick deployment and removal with the control unit located inside the vehicle. When a LRAD Mobile Sound Barrier equipped vehicle is threatened, occupants can issue an alert tone and/or broadcast live voice or pre-recorded warnings to clear the immediate area around the vehicle. If the threat persists, powerful deterrent tones can be activated to create a virtual barrier of sound, warding off any advance or escalation by the threat. With a maximum deterrent tone volume of 125 dB, the LRAD Mobile Sound Barrier creates a safe stand-off zone between the vehicle and the threat allowing the occupants to quickly egress out of a potentially dangerous situation.
LRAD Corporation Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended March 31, 2014; Provides Earnings Guidance for the Third Quarter and Second Half of 2014
May 7 14
LRAD Corporation announced unaudited consolidated earnings results for the second quarter and six months ended March 31, 2014. Fiscal second quarter 2014 revenue grew by $2.2 million or 69% to $5.4 million, compared to $3.2 million of revenue in the fiscal second quarter of 2013. Revenue grew 69% as a result of continued demand from international markets, including the delivery of a $1.3 million order for a national police force in Southeast Asia. Net Income was $526,000, or $0.02 per basic and diluted share, increased by $985,000 from a loss of $459,000, or $0.01 per basic and diluted share, reported during the fiscal second quarter of 2013. Income from operations was $522,000 against loss of $465,000 a year ago. Income from operations before income taxes was $527,000 against loss of $458,000 a year ago.
Revenue for the six month period ended March 31, 2014 totaled $9.2 million, representing an increase of $3.0 million, or 49%, from the $6.2 million for the six month period ended March 31, 2013. Net Income during the six month period ended March 31, 2014 totaled $657,000, or $0.02 per basic and diluted share, a $1.2 million improvement from the $560,000 loss, or $0.02 per basic and diluted share, reported for the six months ended March 31, 2013. Income from operations was $649,000 against loss of $573,000 a year ago. Income from operations before income taxes was $659,000 against loss of $558,000 a year ago.
Based on the company's current outlook, the company anticipates a very strong third quarter and second half of 2014.