Yesterday, LRAD Corp. (LRAD-NASDAQ), a supplier of advanced sound technologies for commercial, military, and government markets worldwide, reported that it received a $1.9 million order from the U.S. Army Reserves for its LRAD 500X™ and LRAD 100X™ Long Range Acoustic Hailing Devices. The company has long provided the Army with LRAD systems that can be vehicle-mounted to broadcast highly intelligible warnings and commands to soldiers and civilians at long distances.

Following this announcement, the company released its financial results for the fiscal third quarter 2012, which ended June 30, 2012. 

LRAD reported the following key items for the quarter (comparisons to the fiscal Q3 2011):

• Revenues of $3.2 million, a 33% increase over Q3 2011 due to an increase in orders from the U.S. Army

• Gross profit of $1.6 million, or 50% of revenues, versus $905,000, or 38% of revenues, for Q3 2011

• Net income of $200,000, or $0.01 per diluted share, versus a net loss of $684,000, or ($0.02) per share, for Q3 2011

Summarized below are highlights of the company's nine-month (year-to-date) financials for 2012 thus far:

• Revenues of $9.2 million, a decrease from $20.1 million for the nine months ended June 30, 2011, which had included a $12.1 million foreign military order 

• Net income of $222,000, or $0.01 per diluted share, that declined from $4.7 million, or $0.15 per diluted share, for the year-ago term due to a decrease in revenues and gross margin partially offset by decreased operating expense

• Positive cash flow of $490,000 for the nine months ended June 30, 2012

• Cash and cash equivalents of $14.4 million at June 30, 2012 

The profitable LRAD Corp. also anticipated a favorable finish to 2012, as the company's move into a new facility with greater manufacturing capacity has recently been completed, which may allow LRAD to capitalize on its expected U.S. military and international orders for the year. 

For a greater explanation of LRAD's business, please consult our Quarterly Update on the company, published June 20, 2012. As well, LRAD's management is scheduled to discuss the company's fiscal Q3 2012 business and financial results on a conference call today, August 8, 2012, at 4:30 p.m. Eastern Time.