LRAD® Corporation Announces $1.0 Million in New Defense Orders
SAN DIEGO, CA – August 22, 2019 – LRAD Corporation (NASDAQ: LRAD), a global leader in critical communication systems, today announced it has received $1.0 million in defense orders for the U.S. Air Force and a NATO army. The LRAD 500X and LRAD 1950XL acoustic hailing devices (“AHDs”) that comprise the orders are scheduled for delivery in fiscal 2020 and will be deployed overseas.
“In addition to providing vital communication and scalable escalation of force (“EOF”) equipment to all branches of the U.S. military, LRAD sales are expanding to armed services in Europe,” remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “Our advanced technology, unmatched range and intelligibility, and superior reliability have firmly established LRAD as the AHD of choice for modern military forces.”
The LRAD 500X broadcasts audible voice communications and warning tones that are clearly heard and understood out to a distance of 2,000 meters. Rugged, compact and lightweight, the LRAD 500X easily mounts on tripods, vehicles and vessels to provide defense forces with essential long-range communication and scalable, non-kinetic EOF capabilities.
The LRAD 1950XL is the Company’s newest AHD and features LRAD’s patented XL driver technology, which increases broadcast distance by 70 percent over standard drivers. The superior voice intelligibility and extended broadcast range of the LRAD 1950XL ensure voice messages are clearly heard and understood in any language out to 5,000 meters.
From combat and counterinsurgency to disaster response and humanitarian missions, LRAD’s critical communication and EOF capabilities are being deployed throughout the world by U.S. and international defense forces.
About LRAD Corporation
The Company’s proprietary Long Range Acoustic Devices® and advanced Genasys™ mass notification systems and mobile alert solutions are designed to enable users to safely hail and warn, notify and direct, prevent misunderstandings, determine intent, establish large safety zones, resolve uncertain situations, and save lives.
LRAD systems are in service in 72 countries around the world in diverse applications, including public safety, mass notification, defense, law enforcement, homeland and border security, critical infrastructure protection, fire rescue, incident management, maritime and port security, and wildlife control and preservation. For more information, visit LRAD.com.
Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on these statements. We base these statements on particular assumptions that we have made in light of our industry experience, the stage of product and market development as well as our perception of historical trends, current market conditions, current economic data, expected future developments and other factors that we believe are appropriate under the circumstances. These statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements. These risks and uncertainties are identified and discussed in our filings with the Securities and Exchange Commission. These forward-looking statements are based on information and management’s expectations as of the date hereof. Future results may differ materially from our current expectations. For more information regarding other potential risks and uncertainties, see the “Risk Factors” section of the Company’s Form 10-K for the fiscal year ended September 30, 2018. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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