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LRAD Corp. swings to loss in fiscal Q2

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LRAD Corp. swings to loss in fiscal Q2

LRAD Corp. said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of $234,630, compared with income of $182,570 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to negative 6.5% from 4.1% in the year-earlier period.

Total revenue declined 19.7% on an annual basis to $3.6 million from $4.5 million, and total operating expenses decreased 5.1% from the prior-year period to $4.0 million from $4.2 million.

Reported net income totaled a loss of $636,560, or a loss of 2 cents per share, compared to income of $338,480, or 1 cents per share, in the year-earlier period.