LRAD Corporation Receives $1.98 Million LRAD® Order from United States Navy
First Order from New Multi-Year Contract
SAN DIEGO, CA, June 13, 2013 - LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), announced today it has received a $1.98 million LRAD systems order from the United States Navy. The order, comprised of LRAD 100XTM, LRAD 500XTM and LRAD 1000XiTM systems, is scheduled for delivery before September 30, 2013.
"We're pleased to receive this order, our first under the recently awarded multi-year $12.2 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract for small, medium and large AHDs from the United States Navy's Naval Surface Warfare Center," commented Tom Brown, president and CEO of LRAD Corporation. "LRAD is the only AHD that meets all the rigorous specifications of the United States Navy."
At distances up to 3,500 meters, LRAD systems have proven highly effective in anti-terrorism/force protection missions by broadcasting powerful deterrent tones and live or pre-recorded multi-language warnings, commands and instructions with unprecedented clarity and range. By communicating clearly over distance, LRAD systems create large standoff zones, unequivocally determine intent, resolve uncertain situations peacefully and save lives on both sides of the Long Range Acoustic Device®.
LRAD systems are deployed in more than 60 nations around the world including by U.S. and international naval forces and other military and security organizations.
About LRAD Corporation
LRAD Corporation is using long range communication to resolve uncertain situations peacefully and save lives on both sides of its proprietary Long Range Acoustic Device®. LRAD® systems are in service 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, emergency warning and mass notification, asset protection, and wildlife preservation and control. For more information about the Company and its LRAD systems, 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, 2012. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.