Second Quarter FY2012 Financial Results and Business Update on LRAD Corp. (LRAD-NASDAQ)

Posted by Colleen Koski

June 21, 2012 at 10:12 AM

LRAD logoOn June 21, 2012, Crystal Research issued a Quarterly Update on LRAD Corp. (LRAD-NASDAQ), a company developing and marketing acoustic hailing devices (AHD) that support the delivery and intelligibility of audio broadcasts over long ranges. The 12-page Update is available here.

Recent Highlights

  • During the first six months of LRAD Corp.’s 2012 fiscal year (ended March 31), the Company reported revenues of $6 million versus $17.7 million for the corresponding 2011 timeframe (which included a $12.1 foreign military order). Law enforcement and public safety initiatives represented a significant portion of the Company’s sales during the first half FY 2012, helping the Company achieve breakeven results for the six-month period despite lower military sales.
  • LRAD® systems have been used by law enforcement for various major public affairs, such as for the 2012 NATO summit in Chicago, and will be used for the upcoming 2012 Summer Olympics in London. These events have led to various publicity features for the Company’s systems, including the Tonight Show with Jay Leno, local news stations in major cities (e.g., Los Angeles and Chicago), as well as an AOL Digital Justice webisode.
  • LRAD Corp. expects military sales to gain momentum in the second half as the U.S. government nears the end of its fiscal year (Sept. 30). Recently, the U.S. military placed orders for roughly $1.5 million in LRAD® systems and support equipment. The Company has completed and submitted its bid to the U.S. Navy’s Request for Proposal (RFP) for between 4 each and 1,300 small, medium, and large acoustic hailing devices over the next five years.
  • LRAD Corp. continues to penetrate commercial security and wildlife and asset protection markets globally. In May 2012, the Company received a $1.7 million order for Asian maritime security.
  • LRAD Corp. has also expanded its product line to include the LRAD 360X, which provides uniform 360-degree broadcasts in support of effectively delivering mass notifications and emergency warnings.
  • As of March 31, 2012, LRAD Corp. had cash and cash equivalents of $13.9 million.

Greater information about LRAD Corp. and its product portfolio is provided in Crystal Research Associates' 64-page Executive Informational Overview (EIO) published February 13, 2012.

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