American Technology Corporation provides fiscal quarter results
2008-08-05 15:06:15 (GMT) (Caymanmama.com - Technology News)San Diego, California (CaymanMama.com) — The American Technology Corporation, one of the principal providers of directed sound technologies and products, announced today that the revenues of the fiscal 3rd quarter which ended on June 30, 2008 surged to 28% from $2.2 million for the same period of the previous year.
Tom Brown, chief executive and president of ATC (American Technology Corporation) remarked, “Sales of all our directed sound product lines grew in fiscal Q3, with the largest growth coming from our new LRAD-X(TM) product series.” He further added, “Since the introduction and initial deliveries of our proprietary LRAD-X systems in late March, we have experienced growing domestic and international acceptance and increasing market demand that is continuing in fiscal Q4.”
“With the fulfillment of a previously announced $1.1 million LRAD RX(TM) order and the expected deliveries of the recently announced Marine Expeditionary Security Force LRAD 500X(TM) order and other pending orders, we’re forecasting a strong Q4,” said Brown.
The gross profit for the quarter of 3rd fiscal was 38% of the revenues or $1.0 million; in comparison with the gross profit of 46% of the revenues or $1.0 million, for fiscal quarter ended on June 30, 2007.
The percentage of gross profit on the opening of the LRAD-X shipments had dipped lower than the prior year when sale of products of LRAD® was high due to the initial freight costs and start up production. The organization also expects margins of LRAD-X to progress through the enhanced production volume.
The opening expenses for the third quarter fiscal were recorded at $2.6 million; this showed an increase of around $354000 from quarter ended on June 30, 2007. The surge occurred primarily from the expenses on research and development that were associated with the finalizing of the product series of the LRAD-X products.
Net loss for 3 months recorded on June 30, 2008 was $1.5 million as compared with the net loss of about $1.1 million for same period previous year.
CaymanMama.com - Press Release Distribution Service
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