LRAD® Corporation Receives Follow-On Canadian Army Orders
SAN DIEGO, CA – April 30, 2019 – LRAD Corporation (NASDAQ: LRAD), a global leader in long range voice broadcast systems and advanced mass notification solutions, today announced follow-on orders for LRAD 100X and LRAD 450XL systems and accessories from the Canadian Department of National Defence for use by the Canadian Army. The man-portable and vehicle-mounted communication systems will be used to support domestic operations, multinational combat operations and ongoing NATO and United Nations peacekeeping missions.
“The $508,000 in additional orders follow an initial $1.0 million order received last year after a competitive tender and extensive testing,” remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “Further orders for the Canadian Army are expected later this year.”
“We continue to leverage our U.S. Army and National Guard business with international armed forces by implementing the same strategy we developed to grow LRAD’s U.S. Navy business from initial deliveries to deployments throughout the U.S. fleet and 25 international navies,” Danforth added.
Today’s military forces are required to support the full spectrum of missions. From combat and counterinsurgency to disaster response and humanitarian assistance. Regardless of the assigned mission, clear communication and scalable escalation of force (“EOF”) are critical to mission success.
From the rugged, lightweight LRAD 100X to larger systems temporarily or permanently mounted on vehicles, vessels, and helicopters, LRAD provides essential communication and EOF capabilities for defense forces throughout the world.
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.
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