LRAD CORPORATION RECEIVES $800,000 IN LRAD®
SYSTEMS AND SERVICES ORDERS FROM U.S. NAVY
LRAD Used by South Korean Navy in Ship Rescue
SAN DIEGO, CA, February 17, 2011 - LRAD Corporation (ATC) (NASDAQ: LRAD), the world leader in acoustic hailing devices (AHDs), announced today it has received over $800,000 in new LRAD systems and services orders from the U.S. Navy. The Company has supplied LRAD systems and services to the U.S. Navy since 2003.
“We appreciate this new round of orders from the U.S. Navy,” commented Tom Brown, president and CEO of LRAD Corporation. “LRAD was originally developed to support protection and exclusion zones around U.S. Navy ships in response to the attack on the USS Cole over ten years ago. LRAD gives naval and commercial maritime vessels the vital capability of determining the intent of unidentified ships that fail to respond to radio calls. LRAD then provides security forces time and distance to react and measure their response.”
LRAD Corporation’s proprietary Long Range Acoustic Device® systems broadcast powerful multi-language hails, warnings and instructions at distances up to 3,000 meters. Through the use of highly intelligible voice commands and deterrent tones, LRAD creates increased standoff and safety zones, supports peaceful conflict resolution, and potentially saves lives on both sides of the device.
The Company also announced an LRAD system was used by the South Korean Navy during their successful rescue of the Samho Jewelry off the coast of Somalia late last month. The South Korean Navy used LRAD to alert the hijacked crew of the rescue operation and broadcast warnings to the pirates that had seized the ship.
“We’re pleased to be the AHD of choice for the world’s naval forces,” concluded Brown.
About LRAD Corporation
LRAD Corporation’s Long Range Acoustic Device® (LRAD®) directional communication systems are being used around the world in diverse applications including fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, and wildlife preservation and control. For more information about LRAD Corporation and its long-range directional sound systems, please visit the company’s web site at 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, including but not limited to, the performance of our management team, market acceptance of our directed sound technologies and products, entry of competitors, the possibility our intellectual property protections will not prevent others from marketing products similar to or competitive with our products, potential technical or manufacturing difficulties that could delay product deliveries or increase warranty costs, and other risks 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, 2010. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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