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LRAD® Corporation Announces $1.7 Million in Defense and Homeland Security Orders

1075 Days ago

SAN DIEGO, June 11, 2019 (GLOBE NEWSWIRE) -- LRAD Corporation (NASDAQ: LRAD), a global leader in critical communication systems, today announced orders totaling $1.7 million for multiple systems from government agencies in Japan, Southeast Asia and the United States Military.

The orders include LRAD 100X MAG-HS kits and accessories for international deployment by the U.S. Military, LRAD 100X, LRAD 500X and LRAD 1000Xi systems under a follow-on homeland security order from Southeast Asia, and an LRAD 1000Xi systems order from Japan’s Coast Guard awarded after extensive testing and a competitive tender.

“Homeland security and defense forces in 72 nations are deploying LRAD systems to support the full spectrum of their missions and operations,” commented Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “LRAD’s critical communication and escalation of force (“EOF”) capabilities are essential to changing threat behavior, protecting personnel and saving lives.”

LRAD systems broadcast attention-commanding voice messages and warning tones with exceptional clarity to communicate, and safely initiate and scale EOF. From combat and counterinsurgency to disaster response and humanitarian assistance, LRAD provides critical communication and EOF resources for homeland security and defense forces.

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 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.

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