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Strategies & Market Trends : Aardvark Adventures

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To: ~digs who wrote (7119)	2/2/2010 11:44:50 PM
From: ~digs	Read Replies (2) of 7944

Shares of American Technology Corp. (Nasdaq: ATCO) shot up more than 16 percent in after-hours trading after the company reported record first-quarter profit and revenues. The developer of the Long Range Acoustic Device product line reported net income of $1.8 million, or 6 cents per diluted share, compared to a net loss of $881,000 or 3 cents per diluted share in the first quarter of 2009. Revenues totaled $5.3 million, more than double the $2.5 million in revenues recorded in the comparable period. The company attributed the profit to not only higher revenues, but also savings from improved manufacturing processes and higher volume component purchasing. "While our quarterly results will remain uneven, this fiscal year we anticipate a third consecutive year of record revenue growth and our first profitable fiscal year," said President and CEO Tom Brown in a statement. American Technology closed at $1.50 on Tuesday, up almost 3.5 percent. Shares gained another 25 cents in after-hours trade.

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