LRAD® Corporation Rebranding as Genasys Inc. to Reflect Broader Commitment to Critical Communications
October 23 2019 - 3:01AM
LRAD Corporation (NASDAQ: GNSS), a critical communications company,
today announced it is rebranding as Genasys™ Inc (Genasys),
aligning the Company’s identity with its leading, connected
critical communications systems that empower all levels of domestic
and international government and business to effectively manage
critical situations and help save lives.
“Over the span of its 27-year history, LRAD and
its industry-leading long-range communication systems have
developed an exceptional reputation across public safety, defense,
law enforcement and commercial sectors,” said Richard S. Danforth,
Chief Executive Officer of Genasys. “With our expanded product
portfolio that addresses significant business opportunities in
larger markets, it is timely for us to rebrand the Company based on
our unified, integrated hardware and software platform for a world
that’s evolved from limited, siloed information to one that is
increasingly connected.”
“The growing importance for governments and
organizations to provide clear and timely critical communication
during natural disasters, crisis situations and civil disturbances
– including through geo-specific messaging on today’s ubiquitous
mobile devices – also contributed to the Company’s name change,”
Mr. Danforth continued. “The Genasys platform provides a unified,
multi-channel approach to deliver potentially lifesaving
information and significantly increase the number of people who
receive it.”
In addition to the integration of LRAD voice
hardware products with Genasys software, the Genasys platform
includes Critical Communications as a Service (CCaaS) mobile mass
messaging and integrated solutions for business and public safety.
LRAD hardware systems are integral to the Company’s unified
platform, particularly for public safety, defense, law enforcement
and critical infrastructure applications.
“In this new chapter of the Company, we plan to
continue expanding our acoustic hailing device (AHD) business while
also delivering the only unified solution for public safety,
emergency warning and other critical communications applications to
the large and growing mass notification market,” said Mr. Danforth.
“In coordination with public sector emergency managers, elected
officials and business leaders, we will endeavor to keep people
safe through our unified, multi-modal distribution of clear,
concise alerts, notifications, instructions and information.”
Genasys has a history of delivering innovative
systems and solutions, pioneering the AHD market with the
introduction of its LRAD systems in 2003, creating the first
multidirectional mass notification systems that project sirens and
audible voice messages with industry-leading vocal clarity and area
coverage in 2012, and recently revolutionizing the public safety
and mass notification markets with the only unified platform that
combines long-range voice broadcast systems and digital, Critical
Communications as a Service (CCaaS) mobile mass messaging.
NASDAQ Ticker Symbol Change
The Company’s ticker symbol will change to
GNSS effective market open today. No action is
needed from Company shareholders relative to the ticker symbol
change. The CUSIP remains unchanged (50213V-109)
About Genasys Inc.
The Company’s proprietary Long Range Acoustic
Devices®, advanced Critical Communications as a Service (CCaaS)
mobile mass messaging, and revolutionary integrated voice broadcast
and mobile alert solutions are designed to enable users to warn,
notify and direct, prevent misunderstandings, resolve uncertain
situations, and save lives.
Genasys critical communication systems are in
service in 72 countries around the world in diverse applications,
including public safety, national emergency warning systems, mass
notification, defense, law enforcement, critical infrastructure
protection and many more. For more information, visit
genasys.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 DBA Genasys Inc. 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
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