Order is Part of $110 Million US Army Program
SAN DIEGO, CA – August 8, 2019 – LRAD Corporation (NASDAQ: LRAD), a global leader in critical communication systems, today announced it has received a follow-on $14.8 million order from the U.S. Army (“Army”). The Army is purchasing LRAD 450XL acoustic hailing device (“AHD”) systems and accessories for deployment with active duty, Reserve and National Guard units. This is the Company’s fourth order from the Army’s $110 million AHD program. Three LRAD 500X program orders were previously delivered.
“This is the Company’s largest domestic order to date,” said Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “Further, we anticipate another LRAD 450XL order under this program later this quarter and additional purchases in subsequent years to meet the Army’s long-term AHD requirements.”
“The LRAD 450XL and LRAD 500X are the only AHDs qualified for deployment by the Army,” continued Mr. Danforth. “After extensive testing, our smaller, lighter LRAD 450XL was selected to meet the Army’s critical communication and scalable escalation of force requirements. We’re working with other branches of the U.S. military and our partners overseas to expand LRAD 450XL use within the Department of Defense and throughout international defense forces.”
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 incorporates LRAD’s patented 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. The LRAD 450XL is rapidly becoming the AHD of choice for domestic and international defense, homeland security and public safety services.
About LRAD Corporation
The Company’s proprietary Long Range Acoustic Devices® and advanced Genasys™ mass notification 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 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