Disclosure NewswireTMiCrowdNewswire - Sep 7, 2016
SAN DIEGO, CA – LRAD Corporation (NASDAQ: LRAD), the world’s leading provider of acoustic hailing devices (“AHDs”) and advanced mass notification systems, today announced it has received approximately $1.2 million in LRAD 500X systems and accessories orders for the U.S. Army (“Army”). The Program of Record and Rapid Equipping Force (“REF”) orders are scheduled to ship in the Company’s fourth fiscal quarter ending September 30, 2016.
“We are pleased to receive our first order under the Army AHD program of record,” remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “While the Army continues to procure LRADs for urgent operational requests including this $246,000 REF order, the $915,000 program acquisition demonstrates the Army’s commitment to AHD systems. We look forward to continuing our work with the Army to fully satisfy its AHD requirements over the next several years.”
Today’s defense forces are required to support missions ranging from combat and counterinsurgency to disaster response and humanitarian assistance. Regardless of the assigned operation, clear communication is essential to mission success. Long Range Acoustic Device® systems broadcast highly intelligible voice messages and deterrent tones from close range up to 5,500 meters. Military organizations around the world are filling the critical gap between initial engagement and escalation of force with LRAD’s unparalleled long-range communication and scalable, non-kinetic deterrence.
About LRAD Corporation
Using advanced technology and superior voice intelligibility, LRAD Corporation’s proprietary Long Range Acoustic Devices® and revolutionary ONE VOICE® mass notification systems safely hail and warn, inform and direct, prevent misunderstandings, determine intent, establish large safety zones, resolve uncertain situations, and save lives. LRAD systems are in service in more than 70 countries around the world in diverse applications including mass notification and public address, fixed and mobile defense deployments, homeland, border, critical infrastructure, maritime, oil & gas, and port security, public safety, law enforcement and emergency responder communications, asset protection, and wildlife control and preservation. For more information, please visit www.lradx.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, 2015. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
E. Brian Harvey
Director, Investor Relations and Capital Markets