LRAD® Corporation Announces $1.0 Million in New Defense Orders
August 22 2019 - 9:00AM
LRAD Corporation (NASDAQ: LRAD), a global leader in critical
communication systems, today announced it 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 CorporationThe
Company's proprietary Long Range Acoustic Devices® and advanced
Genasys™ public safety 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.
Investor Relations Contacts
Jim Fanucchi and Satya Chillara
Darrow Associates, Inc.
ir@lrad.com
LRAD (NASDAQ:LRAD)
Historical Stock Chart
From Mar 2024 to Apr 2024
LRAD (NASDAQ:LRAD)
Historical Stock Chart
From Apr 2023 to Apr 2024