Boston, MA 06\/14\/2013 (wallstreetpr) –\u00a0Shares of LRAD Corp (NASDAQ:LRAD) were up by 16% to close at $1.16 in Thursday\u2019s trading session. Over 891K shares were traded.<\/p>\n
LRAD Corp (NASDAQ:LRAD) : In a recent announcement, US\u00a0 Navy has awarded Rancho based LRAD Corp an indefinite delivery and an indefinite quantity contract for acoustic hailing devices, which is expected to be worth $12.2 million spanning over a period of five years. This deal is important not only from the revenue aspect, but will further help gain further contracts and build its image as the company\u2019s proprietary LRAD system now stand approved by world\u2019s best defense system.<\/p>\n
Also, there has been a couple of news in the recent past which has made LRAD attractive and highly valued among investors. The first being the one on May 22, 2013 whereby LRAD entered into an agreement with Iroquois under which two new independent directors will be place by Iroquois, and a third one which were to be mutually selected by them. This was in settlement to a lawsuit brought by Iroquois against LRAD. This can be seen as a win for shareholders, as now with the broadening of Board of Directors, Iroquois, and thereby all shareholders will have a greater say in the management.<\/p>\n
Also, as of end of March 2013, LRAD has had a healthy Balance sheet with $15,784 in cash and no debt. Accounts receivable is in excess of accounts payable, speaking of the company\u2019s healthy financial position. With its market capitalization at around $34.3 million, if one deducts net current assets of $21.3 million, the enterprise value comes at around $13 million.<\/p>\n
It is cautioned that, however, the market does not assign this value to the organization. Over the last two fiscal, it had a net average income of $3.2 million, giving an earnings yield of a whopping 24%. Surprisingly, the new $12 million contract is almost worth 100% of LRAD\u2019s present enterprise value, thus to be seen as a great boost for LRAD.<\/p>\n
However, it is to be seen that LRAD is a small company and what one is o be cautious is that it is not heavily traded. Moreover, being a technology company, it is continuously in competition with those companies trying to improve its technology, thus giving it uncertain grounds of continuous performance.<\/p>\n
LRAD makes long range hailing devices for police departments, military customers, and others that need to deliver messages over distances. The company\u2019s annual meeting of stockholders is scheduled for July 17.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/14\/2013 (wallstreetpr) –\u00a0Shares of LRAD Corp (NASDAQ:LRAD) were up by 16% to close at $1.16 in Thursday\u2019s trading session. Over 891K shares were […]<\/p>\n","protected":false},"author":32,"featured_media":7664,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[2648,2649],"stock_ticker":[],"class_list":["post-7663","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-lrad-corp-nasdaqlrad","tag-nasdaqlrad","entry"],"acf":[],"yoast_head":"\n