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LRAD® Corporation Receives Follow-On $5.4 Million US Army Order

999 Days ago

SAN DIEGO, Aug. 28, 2019 (GLOBE NEWSWIRE) --  LRAD Corporation (NASDAQ: LRAD), a global leader in critical communication systems, today announced it received a follow-on $5.4 million order from the U.S. Army (“Army”). This is the second LRAD 450XL acoustic hailing device (“AHD”) systems and accessories order under the Army’s AHD program.

“Combined with the recently announced $14.8 million award, the Army has ordered more than $20 million of LRAD 450XL systems and accessories from the Company this month,” said Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “Both LRAD 450XL orders are scheduled to ship in the Company’s fiscal year 2020 and be deployed with active duty, Reserve, and National Guard Military Police and transportation security units.”

“These orders further affirm the Army’s commitment to supplying its Soldiers with the best critical communication and scalable escalation of force equipment available,” added Mr. Danforth.

The LRAD 450XL incorporates LRAD’s patented technology to generate the audio output of a unit almost twice its size and weight. 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 is rapidly becoming the AHD of choice for U.S. and international defense, homeland security and law enforcement agencies.

About LRAD Corporation

The Company's proprietary Long Range Acoustic Devices® and advanced Genasys™ public safety 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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