LRAD® Corporation Announces $1.0 Million in US Military and State Department Orders
SAN DIEGO, CA – March 6, 2018 – LRAD Corporation (NASDAQ: LRAD), the world’s leading provider of acoustic hailing devices (“AHDs”), advanced mass notification systems and distributed recipient software solutions, today announced over $1.0 million in orders that include accessories and spare parts for LRAD systems ordered in a previously announced $6.0 million U.S. Army program of record, and to support ongoing U.S. Navy programs. Additionally, the Company received LRAD 450XL and LRAD 500X orders from the U.S. Department of State.
“The U.S. Army and U.S. Navy accessories and spares orders will support deployed LRAD systems from previous AHD programs,” commented Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “The State Department selected LRAD to provide vehicle mounted AHDs for overseas embassy security.”
U.S. defense forces are required to support a full spectrum of missions from combat to counterinsurgency to disaster response and humanitarian assistance. Regardless of the assigned mission, clear communication and scalable escalation of force (“EOF”) capabilities are critical to mission success. LRAD systems broadcast deterrent tones and voice messages with exceptional clarity from close range out to 3 kilometers. LRAD is the long-range voice communication and EOF system of choice for defense forces around the world.
About LRAD Corporation
The Company’s proprietary Long Range Acoustic Devices®, advanced ONE VOICE® mass notification systems and innovative Genasys™ mass messaging solutions are designed to enable users to safely hail and warn, inform 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 mass notification and public address, fixed and mobile defense deployments, homeland, border, critical infrastructure, maritime, oil & gas and port security, public safety, law enforcement and emergency responder communications, asset protection, and wildlife control and preservation. For more information, please visit www.LRAD.com.
Forward Looking Statements
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, 2017. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
E. Brian Harvey
Director, Investor Relations and Capital Markets