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American Technology Corp. announced today that its revenues for the fiscal year ended Sept. 30 would be up 39%, making the second consecutive year they would rise. Sales were up 13% last year. The stock rose 3.7% to $1.70. However, the company said nothing about profits. Last year, they fell 14%. The company has lost money every year since 1996, although it enjoyed two straight quarters of extremely modest profits in fiscal 2009, the first two quarters of reported net income in the company's history. At the end of last year, American Technology had an accumulated deficit of $73.9 million.
The increase in sales comes from growing use of its LRAD (Long Range Acoustic Device) product line, called a "spotlight of sound" that can direct piercing noises. It has been used against pirates off the coast of Africa, and is now being used by police to control protesters. Such usage was widely criticized after Pittsburgh police aimed LRAD at peaceful protesters at the recent Group of 20 economic summit. Groups such as Democracy Now! and the ACLU have strongly criticized use of the device because of possible ear damage, among other things. The company admits that the perception that LRAD is unsafe may hurt sales. San Diego Sheriff Bill Gore has placed an LRAD device at local town hall meetings. Two candidates opposing him in the upcoming election, Jay LaSuer and Jim Duffy, denounced the dangers of the device.
In the past, the company's credibility has been hurt by the braggadocio of its former chairman, Elwood (Woody) Norris, whose own website boasts that he is "a visionary, a futurist." Norris was wont to make overoptimistic forecasts, as he hyped his inventions. He stepped down as chairman this year but is still on the board.
American Technology Corp. announced today that its revenues for the fiscal year ended Sept. 30 would be up 39%, making the second consecutive year they would rise. Sales were up 13% last year. The stock rose 3.7% to $1.70. However, the company said nothing about profits. Last year, they fell 14%. The company has lost money every year since 1996, although it enjoyed two straight quarters of extremely modest profits in fiscal 2009, the first two quarters of reported net income in the company's history. At the end of last year, American Technology had an accumulated deficit of $73.9 million.
The increase in sales comes from growing use of its LRAD (Long Range Acoustic Device) product line, called a "spotlight of sound" that can direct piercing noises. It has been used against pirates off the coast of Africa, and is now being used by police to control protesters. Such usage was widely criticized after Pittsburgh police aimed LRAD at peaceful protesters at the recent Group of 20 economic summit. Groups such as Democracy Now! and the ACLU have strongly criticized use of the device because of possible ear damage, among other things. The company admits that the perception that LRAD is unsafe may hurt sales. San Diego Sheriff Bill Gore has placed an LRAD device at local town hall meetings. Two candidates opposing him in the upcoming election, Jay LaSuer and Jim Duffy, denounced the dangers of the device.
In the past, the company's credibility has been hurt by the braggadocio of its former chairman, Elwood (Woody) Norris, whose own website boasts that he is "a visionary, a futurist." Norris was wont to make overoptimistic forecasts, as he hyped his inventions. He stepped down as chairman this year but is still on the board.