Fred Kadiddlehopper
7 years ago
SAN DIEGO, CA / ACCESSWIRE / December 12, 2017 / LRAD Corporation (LRAD), the world's leading provider of acoustic hailing devices ("AHDs") and advanced mass notification systems, today announced financial results for the fiscal year ended September 30, 2017.
Fiscal Year 2017 Financial Summary
Revenues: Fiscal year 2017 revenues totaled $20.3 million, compared to $16.4 million reported in fiscal year 2016.
- The 24% increase in revenues was primarily driven by a 224% increase in mass notification system sales. International and domestic revenues increased 24% and 18% respectively over the prior year.
Net Loss: The Company reported a net loss of $877,000, or $0.03 per share, for fiscal 2017, compared with a net loss of $1.3 million, or $0.04 per share, in fiscal 2016.
- Gross margin improved to 50.6%, compared to 46.9% in the prior fiscal year, as improved revenues led to higher fixed overhead absorption and gross profit of $10.3 million, 34% higher than fiscal 2016.
- Selling, general and administrative expenses increased $1.7 million, or 25%, from fiscal 2016, primarily due to higher incentive and non-cash compensation, investments in sales and engineering personnel, and expenses associated with the implementation of a new enterprise resource planning system.
- Net loss declined to $877,000 from $1.3 million in fiscal 2016, which included $198,000 in fiscal 2017 tax expense versus a tax benefit of $186,000 in the prior fiscal year.
Balance Sheet: Cash and cash equivalents totaled $12.8 million at September 30, 2017, down from $13.5 million reported at September 30, 2016.
- Lower cash and cash equivalents were primarily due to large product shipments near the end of the fiscal fourth quarter, which resulted in a $2.3 million increase in accounts receivable compared to the prior year.
- Working capital totaled $25.4 million at September 30, 2017, compared to $23.1 million at September 30, 2016.
"Our investments in additional sales and engineering personnel and the expansion of our AHD and mass notification product lines are beginning to bear fruit, as demonstrated by the $7.5 million in fiscal Q4 2017 revenues reported today, 53% higher than the $4.9 million in revenues recorded in fiscal Q4 2016," remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. "Bookings in fiscal 2017 increased in all our geographic sales regions over fiscal 2016, totaling a record $28.4 million. Backlog at September 30, 2017 was $11.9 million, compared to $3.1 million at the end of fiscal 2016."
Select Fiscal Year 2017 Operating and Business Highlights
Announced our largest domestic order to date, a $6.0 million U.S. Army Program of Record order that is part of a larger AHD requirement.
Received several orders from the U.S. Military, including a $2.4 million Air National Guard order for LRAD 360XL-MID Mobile Kits, $1.1 million in U.S. Navy orders, which included our first order for a Naval Construction Battalion, and a $900,000 military-grade LRAD 360XT mobile mass notification systems order for U.S. Army forward operating bases in the Middle East.
Announced $2.9 million in LRAD 360XT orders for one of the largest oil & gas companies in Eurasia. The mobile mass notification systems are equipped with our solar power option and being integrated with a gas detection alarm system.
Received $4.0 million in AHD public safety orders from Southeast Asia and $1.2 million in additional AHD orders from international regions other than Southeast Asia.
Appointed Dennis D. Klahn as Chief Financial Officer.
Launched eight new products: LRAD SoundSaber-X, LRAD DS-60X, LRAD DS-60XL, LRAD 360XL, LRAD 360XL-MID, LRAD 360XL-MID Mobile Kit, LRAD 950RXL and LRAD 1950XL.
"In fiscal 2018, we are continuing to pursue global market opportunities by increasing and strengthening partnerships, expanding our product lines and exploring prospects to accelerate growth in our mass notification business," added Danforth. "Based on the robust bookings trend and the significant growth of addressable backlog, we are off to a strong start in fiscal 2018."
We include in this press release Non-GAAP operational metrics of bookings and backlog, which we believe provide helpful information to investors with respect to evaluating the Company's performance. We consider bookings and backlog as leading indicators of future revenues and use these metrics to support production planning. Bookings is an internal, operational metric that measures the total dollar value of customer purchase orders executed in a period, regardless of the timing of the related revenue recognition. Backlog is a measure of purchase orders received that have not been shipped, but are planned to ship within the next 12 months.
Webcast and Conference Call Details
Management will host a conference call to discuss fiscal year 2017 financial results this afternoon at 4:30 p.m. E.T. To access the conference call, dial toll-free 888.567.1602, or international at 404.267.0373. A webcast will also be available at the following link: https://www.webcaster4.com/Webcast/Page/1375/23623. A replay of the call will be available approximately four hours after the call concludes, and remain available for 90 days at the aforementioned webcast link. Questions to management may be submitted before or during the call by emailing them to: investor@lrad.com.
About LRAD Corporation
Using advanced technology and superior voice intelligibility, LRAD Corporation's proprietary Long Range Acoustic Devices® and revolutionary ONE VOICE® mass notification systems are designed to enable users to safely hail and warn, inform and direct, prevent misunderstandings, determine intent, establish large safety zones, resolve uncertain situations, and save lives. LRAD systems are in service in more than 70 countries around the world in diverse applications including mass notification and public address, fixed and mobile defense deployments, homeland, border, critical infrastructure, maritime, oil & gas, and port security, public safety, law enforcement and emergency responder communications, asset protection, and wildlife control and preservation. For more information, please visit www.LRAD.com.
Fred Kadiddlehopper
8 years ago
Another whale checks in now and holding bigly.
http://ih.advfn.com/p.php?pid=nmona&article=73828705
(9) Aggregate Amount Beneficially Owned by Each Reporting
Person: 3,989,757**
(10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions):
(11) Percent of Class Represented by Amount in Row (9): 12.5%**
(12) Type of Reporting Person (See Instructions): IA
**AWM Investment Company, Inc., a Delaware corporation (?AWM?), is the
investment adviser to Special Situations Fund III QP, L.P. (?SSFQP?),
Special Situations Private Equity Fund, L.P. (?SSPE?), Special
Situations Technology Fund, L.P. (?TECH?) and Special Situations
Technology Fund II, L.P. (?TECH II?). (SSFQP, SSPE, TECH and TECH II
will hereafter be referred to as the ?Funds?). As the investment
adviser to the Funds, AWM holds sole voting and investment power over
1,846,889 shares of Common Stock of the Issuer (the ?Shares?) held by
SSQP, 590,716 Shares held by SSPE, 214,978 Shares held by TECH and
1,337,174 Shares held by TECH II. Austin W. Marxe (?Marxe?), David M.
Greenhouse (?Greenhouse?) and Adam C. Stettner (?Stettner?) previously
reported the Shares held by the Funds on Schedule 13G. Accordingly,
reference should be made to Marxe, Greenhouse and Stettner (CIK
#0001044321) for filings prior to February 14, 2015 with the
Securities and Exchange Commission relating to the Shares held by each
of the Funds. See Items 2 and 4 of this Schedule for additional
information.
stocktrademan
10 years ago
$LRAD DD Notes ~ http://www.ddnotesmaker.com/LRAD
bullish
falling wedge scan
http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns:falling_wedge_reversal
$LRAD recent news/filings
## source: finance.yahoo.com
Tue, 14 Oct 2014 22:22:28 GMT ~ LRAD Corporation to Exhibit at the 2014 Association of the United States Army (AUSA) Annual Meeting
[at noodls] - PRESS RELEASES / and Exposition in Washington, D.C. ... This is an abstract of the original noodl. To continue reading this document, click here for the original version.
read full: http://www.noodls.com/view/2BCB02E6A6D4E12A0DEB7CDBAAC96855C6ACD0CB
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Thu, 09 Oct 2014 13:04:52 GMT ~ LRAD Corporation to Exhibit at the 2014 Association of the United States Army (AUSA) Annual Meeting and Exposition in Washington, D.C.
[GlobeNewswire] - SAN DIEGO -- LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs) and advanced mass notification systems, today announced that Company representatives ...
read full: http://finance.yahoo.com/news/lrad-corporation-exhibit-2014-association-130452030.html
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Tue, 07 Oct 2014 13:09:01 GMT ~ LRAD Corporation Introduces the LRAD(R) 450XL - The Loudest Long Range Acoustic Hailing Device for its Size
[GlobeNewswire] - SAN DIEGO -- LRAD Corporation , the world's leading provider of long range acoustic hailing devices (AHDs), and advanced mass notification systems, today announced the launch of the LRAD(R) 450XL, the ...
read full: http://finance.yahoo.com/news/lrad-corporation-introduces-lrad-r-130901903.html
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Thu, 02 Oct 2014 13:03:52 GMT ~ LRAD Corporation Receives $623,000 of Orders for Mass Notification Systems in Asia
[GlobeNewswire] - SAN DIEGO -- LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), and the most advanced mass notification systems, today announced the receipt of ...
read full: http://finance.yahoo.com/news/lrad-corporation-receives-623-000-130352261.html
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Tue, 30 Sep 2014 13:03:03 GMT ~ LRAD(R) Corporation Receives $610,000 Order from the United States Army
[GlobeNewswire] - SAN DIEGO -- LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), today announced the receipt of an order totaling $610,000 for LRAD 500X systems ...
read full: http://finance.yahoo.com/news/lrad-r-corporation-receives-610-130303096.html
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$LRAD charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$LRAD company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/LRAD/company-info
Ticker: $LRAD
OTC Market Place: Not Available
CIK code: 0000924383
Company name: LRAD Corp
Company website: http://www.atcsd.com
Incorporated In: DE, USA
$LRAD share structure
## source: otcmarkets.com
Market Value: $90,095,730 a/o Oct 30, 2014
Shares Outstanding: 33,002,099 a/o Jul 31, 2014
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.00001
$LRAD extra dd links
Company name: LRAD Corp
Company website: http://www.atcsd.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=LRAD+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=LRAD+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=LRAD+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/news - http://finance.yahoo.com/q/h?s=LRAD+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/LRAD/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=LRAD+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/LRAD
DTCC (dtcc.com): http://search2.dtcc.com/?q=LRAD+Corp&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=LRAD+Corp
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=LRAD+Corp&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.atcsd.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.atcsd.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.atcsd.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/LRAD
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000924383&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=LRAD&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=LRAD
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=LRAD+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=LRAD+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=LRAD
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=LRAD
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=LRAD+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/LRAD/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=LRAD+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/LRAD.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=LRAD
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/LRAD/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/LRAD/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/LRAD
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/LRAD
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/LRAD:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=LRAD
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=LRAD
$LRAD DD Notes ~ http://www.ddnotesmaker.com/LRAD