After finding some ultrasonic transducers online for a dollar each [Kerry Wong] decided to create an ultrasonic range finder. The result is much like parallax’s PING))) sensor but much cheaper. His post is not only a good way to save some money, but also does a good job of explaining how ultrasonic sensors work. The transmit circuit is essentially an H-bridge, much like what you would use to control a motor. To listen to the returning echo he uses a pair of high gain/low noise op-amps to filter and amplify the signal. The board he uses to test the range finder (not included in the cost) is an ATMega328 running the Arduino boot loader. He also provides lots of example code to boot.