LRAD Corp. Reports Net Income of $3.3 Million for Fiscal 2014Thursday, November 20, 2014
LRAD Corp., the Rancho Bernardo maker of high-volume acoustic devices used by the military and law enforcement, reported net income of $3.3 million for fiscal 2014, up from $1.3 million in fiscal 2013.
LRAD (Nasdaq: LRAD) reported its results Nov. 20. Its fiscal year ends Sept. 30.
Revenue for fiscal 2014 was $24.6 million, up 44 percent from $17.1 million in fiscal 2013.
The business says its technology can send a highly targeted voice message or “deterrent tones” up to 5.5 kilometers, or 3.4 miles. It is also working on products that broadcast information 360 degrees. LRAD had 41 employees as of Sept. 30.
LRAD reported that U.S. military sales are down 51 percent because of Pentagon budget constraints and sequestration. Other markets buoyed the company’s sales, however. LRAD sells internationally, and its strongest market is the Asia-Pacific region.