LRAD up 8% as it sees record Q4 revenues, fiscal-year profits
LRAD (NASDAQ:LRAD) said Thursday that it expects to report strong fiscal Q4 revenues that will boost full year revenues to a record $26 million, alongside the highest annual profit yet.
Shares in the maker of outdoor communications systems rose 8.2% to $1.86 Thursday afternoon.
LRAD President and CEO Tom Brown said: "We're pleased to have achieved record revenues despite a 40% reduction in our year over year US military business due to ongoing Federal budget uncertainty."
"While government and defense funding issues remain a concern, there is expanding domestic and international
demand for LRAD long range communication systems in the military, public safety, commercial security, and wildlife & asset protection markets."
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