SAN DIEGO, CA – December 23, 2020 – Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced a $5.1 million follow-on LRAD® 450XL order from the U.S. Army (Army). This is the third follow-on order in calendar 2020 and the fifth LRAD 450XL order received under the Army’s Acoustic Hailing Device (AHD) program of record.
Funding for this order was supplied under the fiscal year 2020 Defense Appropriations Bill. Additional LRAD 450XL follow-on orders are expected from the Army in fiscal year 2021.
“The unparalleled long-range critical communications and scalable escalation of force (EOF) capabilities of the LRAD 450XL have made it the Army’s AHD of choice,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “Active Duty, Reserve and National Guard Military Police, PSYOPS and transportation security units use LRADs for a wide range of domestic and overseas missions.”
Low profile, lightweight and designed to be mounted on tripods, vehicles, small vessels and Common Remotely Operated Weapon Stations (CROWS), the LRAD 450XL includes Genasys’ proprietary XL driver technology to generate the audio output of a unit almost twice its size and weight with the same high level of clarity and intelligibility consistent with the LRAD product line.
As part of a communication and layered EOF strategy, LRAD systems expand decision time and distance to empower 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®.
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, law enforcement, public safety, national emergency warning systems, mass notification, critical event management 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 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 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.
ir@genasys.com