LRAD® Corporation Announces $1.2 Million in Naval Orders
SAN DIEGO, CA – April 16, 2019 – LRAD Corporation (NASDAQ: LRAD), a global leader in long range voice broadcast systems and advanced mass notification solutions, today announced domestic and international naval orders totaling $1.2 million were received in the Company’s 2019 fiscal second quarter. The orders included:
- The French Navy, after a competitive bidding process, is equipping certain fleet ships with LRAD 950RXL systems as part of its shipboard protection and communications protocol.
- The United States Navy ordered additional LRAD 1000Xi systems to replace first generation systems previously deployed in the fleet.
- A navy in the Asia-Pacific region purchased additional LRAD 1000Xi systems and an international navy ordered LRAD 100X acoustic hailing devices for its new fleet of security vessels.
“LRAD systems are deployed by 25 naval forces around the world, providing essential communication and scalable escalation of force capabilities,” commented Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “In uncertain situations or when approaching boats do not respond to radio calls, LRAD systems provide naval ships more time and distance to determine intent and distinguish between intruders, terrorist threats, refugees, fishing boats or commercial vessels, and respond appropriately and effectively.”
LRAD systems are used in many naval and maritime operations, including:
- Ship self-defense
- Establishment of vessel exclusion zones and restricted areas
- Port and harbor security
- Search and rescue
- Boarding and interdiction
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, 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, defense, law enforcement, public safety, 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.
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, 2018. 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