LRAD Corporation Receives LRAD-RX® Systems Order to Remotely Secure Oil Platforms
SAN DIEGO, CA, August 23, 2011 - LRAD Corporation (NASDAQ: LRAD),the world's leading provider of acoustic hailing devices (AHDs), today announced it has received a LRAD-RX systems order to remotely secure multiple offshore oil platforms. The remotely operated LRAD-RX systems, integrated with high power spotlights and sensors, will be utilized to keep security threats, fishermen and birds away from the unmanned platforms. The systems will also be used to protect divers working on the oil rigs from fishing trawlers that penetrate the extended security zones around the platforms. Further details of the order are confidential by request of the customer. The order is scheduled to ship this quarter.
Featuring the Company's proprietary, IP-addressable full pan and tilt drive for precise aiming and tracking, the LRAD-RX's directional broadcasts create standoff zones through powerful voice commands and deterrent tones that can be clearly heard and understood over distances up to 3 km.
"LRAD-RX systems provide oil and gas companies the capability of remotely deterring potential security threats and wildlife from damaging unmanned platforms,” remarked Tom Brown, president and CEO of LRAD Corporation. "LRAD oil platform deployments are increasing around the world including off the coast of Australia, in the Gulf of Mexico and in the Bay of Bengal. Remotely protecting critical oil and gas facilities is an emerging market application with significant potential for our robust LRAD-RX systems.”
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 http://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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