Production and Operations Facility Remains Open
Order Deliveries Proceeding as Scheduled
SAN DIEGO, CA – March 26, 2020 – Genasys Inc. (NASDAQ: GNSS), a global provider of critical communications solutions, today announced it received $1.2 million in defense and mass notification orders. A European Navy placed a follow-on order for LRAD 950RXL acoustic hailing devices (“AHDs”). The remotely operated systems are being installed on the fleet’s frigates for shipboard protection and communication. Additionally, a Southeast Asia Navy ordered AHDs and the U.S. Army (“Army”) placed a follow-on mass notification order for military-specification LRAD 360XTs. The self-contained, self-powered mass notification systems are scheduled for deployment on a forward operating base.
“The LRAD 360XT systems are integrated with an early warning system and can be rapidly positioned anywhere on the base,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “Regarding the LRAD 950RXL systems order, a second follow-on order is expected from the same European Navy next quarter.”
“As an essential provider of public safety and defense critical communications systems, our production and operations facility remains open,” added Mr. Danforth. “Order deliveries are proceeding as scheduled, which include another large shipment of LRAD 450XLs this month against the $20.2 million in Army orders received last August.”
About Genasys Inc.
Genasys™ is a global provider of critical communications solutions to help keep people safe. During public safety threats and critical business events, the Company’s unified platform of LRAD® systems, Critical Communications as a Service (CCaaS) software and integrated solutions provides a multi-channel approach to deliver geo-targeted alerts, notifications, instructions and information before, during and after crisis situations.
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 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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