LRAD® Corporation Receives Follow-On $5.4 Million US Army Order
August 28 2019 - 09:00AM
LRAD Corporation (NASDAQ: LRAD), a global leader in critical
communication systems, today announced it received a follow-on $5.4
million order from the U.S. Army (“Army”). This is the second LRAD
450XL acoustic hailing device (“AHD”) systems and accessories order
under the Army’s AHD program.
“Combined with the recently announced $14.8
million award, the Army has ordered more than $20 million of LRAD
450XL systems and accessories from the Company this month,” said
Richard S. Danforth, Chief Executive Officer of LRAD Corporation.
“Both LRAD 450XL orders are scheduled to ship in the Company’s
fiscal year 2020 and be deployed with active duty, Reserve, and
National Guard Military Police and transportation security
units.”
“These orders further affirm the Army’s
commitment to supplying its Soldiers with the best critical
communication and scalable escalation of force equipment
available,” added Mr. Danforth.
The LRAD 450XL incorporates LRAD’s patented
technology to generate the audio output of a unit almost twice its
size and weight. Low profile, lightweight and designed for
temporary or fixed mounting on tripods, vehicles, small vessels,
and Common Remotely Operated Weapon Stations (CROWS), the LRAD
450XL is rapidly becoming the AHD of choice for U.S. and
international defense, homeland security and law enforcement
agencies.
About LRAD Corporation
The 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
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