Genasys Inc. Announces $18.3 Million U.S. Army LRAD® 450XL Systems Order
Genasys Inc. (NASDAQ: GNSS), the global leader in critical
communications systems and solutions, today announced an $18.3
million follow-on order from the U.S. Army (Army). With this and
previously received fiscal year 2021 orders, the Company has
already exceeded total fiscal year 2020 bookings.
“In addition to the Army order and the recently
announced Riverside County, CA mass notification and emergency
management software services contract, several key awards are
anticipated in the second half of our fiscal year,” stated Richard
S. Danforth, Chief Executive Officer of Genasys Inc. “These awards,
and other expected orders for Genasys Emergency Management
software, Integrated Mass Notification solutions, and LRAD systems,
have the Company well-positioned for record fiscal year revenues
and bookings. We look forward to reporting our fiscal second
quarter results next week on May 13, 2021.”
“The Army and other U.S. military services
continue to equip their forces with LRAD's unmatched long-range
communications and scalable escalation of force (EOF)
capabilities,” Mr. Danforth added. “This order demonstrates the
Army’s ongoing commitment to supplying its soldiers with advanced
equipment that enhances communication and saves lives.”
As part of a communication and layered EOF
strategy, LRAD systems increase the decision time and distance for
military personnel to differentiate between security threats and
non-combatants, and scale EOF accordingly to save lives on both
sides of the Long Range Acoustic Device®.
Low profile, lightweight and designed to be
mounted on tripods, vehicles, small vessels and Common Remotely
Operated Weapon Stations (CROWS), the LRAD 450XL is the AHD of
choice for U.S. and international defense, homeland security, and
law enforcement agencies.
About Genasys Inc.
Genasys™ is a global provider of critical
communications solutions to help keep people safe. Genasys
systems are in service in 72 countries around the world in a range
of diverse applications, including defense, public safety, national
emergency warning systems, mass notification, law enforcement,
critical infrastructure protection, and many more. For more
information, visit genasys.com.
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
forward-looking statements are subject to a number of risks and
uncertainties, including without limitation the business impact of
health crises or outbreaks of disease, such as epidemics or
pandemics and how they may affect our supply chain, and other risks
and uncertainties, many of which involve factors or circumstances
that are beyond the Company's control. 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, 2020. 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.
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