SAN DIEGO, September 28, 2019 – Shares of LRAD Corporation (NASDAQ: LRAD) lost -0.62% to $3.23. The stock grabbed the investor’s attention and traded 29.491K shares as compared to its average daily volume of 109.55K shares. The stock’s institutional ownership stands at 53.30%.
LRAD Corporation (LRAD) reported net income of $1.20M, or $0.04 per basic and diluted share, in fiscal second quarter 2019, contrast to net income of $461.0K, or $0.01 per basic and diluted share, in fiscal second quarter 2018. Gross profit margin was 50.9%, contrast to 51.3% in the prior fiscal second quarter, mostly because of a boost in manufacturing overhead expenses to support increased sales.
Operating expenses increased $323.0K, or 9%, from fiscal second quarter 2018, mainly because of increased investment in hardware and software development. Net income of $1.20M was an improvement of $718.0K from the same period a year ago. The improved results reflected higher quarterly sales.
LRAD has a market value of $105.56M while its EPS was booked as $0.14 in the last 12 months. The stock has 32.68M shares outstanding. In the profitability analysis, the company has gross profit margin of 49.00% while net profit margin was 1.30%. Beta value of the company was 0.26; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 1.50.