SAN DIEGO, CA – June 3, 2020 – Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced it has been awarded a $4.3 million indefinite delivery/indefinite quantity contract from the U.S. Navy (“Navy”) for LRAD® 1000Xi acoustic hailing devices (“AHDs”). With the 3-year award, the Navy also placed an initial $1.2 million order for delivery this fiscal year.
“The award and this order are part of the Navy’s ongoing replacement of first generation AHDs previously deployed in the fleet, some of which have been in service 10 – 12 years,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “LRAD systems are used in many naval and maritime operations, including ship self-defense, establishment of vessel exclusion zones and restricted areas, port and harbor security, search and rescue operations, and boarding and interdiction missions.”
The LRAD 1000Xi is a power efficient, long-range communication system designed for critical infrastructure protection, territorial water, border and port security, and large vessel and vehicle installations. Featuring rugged military construction and a carbon fiber emitter head with integrated electronics and amplification, the LRAD 1000Xi delivers audible hails, warnings, notifications and commands from close range out to 3,000 meters.
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 diverse applications, including public safety, national emergency warning systems, mass notification, defense, law enforcement, critical infrastructure protection and many more. For more information, visit www.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 the consequences of the COVID-19 outbreak, other pandemics 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, 2019. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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