LRAD CORPORATION RECEIVES $1.9 MILLION LRAD®
SYSTEMS AND SERVICES ORDER FROM U.S. NAVY
U.S. Navy Expands Long Range Acoustic Device® Deployments
SAN DIEGO, CA, June 22, 2010 - LRAD Corporation (NASDAQ: LRAD), the global leader in acoustic hailing devices, announced today it has received a follow-on LRAD® systems and services order worth over $1.9 million from the U.S. Navy. Per the U.S. Navy’s schedule, part of the order will ship before the end of their fiscal year 2010 (September 30, 2010) with the balance shipping in fiscal 2011.
LRAD Corporation’s proprietary directed acoustic hailing devices (AHDs) enable military forces to determine the intent of potential threats at safe distances, providing time and distance to employ a measured response to a threat’s actions. LRAD clearly broadcasts critical information, instructions and warnings to distances in excess of 3,000 meters. Through the use of focused multi-lingual voice commands and deterrent tones, LRAD creates increased standoff and safety zones, supports peaceful conflict resolution, and potentially prevents the use of deadly force.
“This latest order from the U.S. Navy includes pan & tilt systems developed in-house by our engineering team,” commented Tom Brown, president and CEO of LRAD Corporation. “Through previous deployments and extensive operational and laboratory testing conducted by the U.S. Navy, our proprietary pan & tilt systems have proven to be rugged and reliable.”
Brown concluded, “We look forward to continuing our support of the U.S. Navy by providing a highly effective communications capability and a proven escalation of force option capable of resolving uncertain situations and saving lives on both sides of the device.”
About LRAD Corporation
LRAD Corporation’s Long Range Acoustic Device® (LRAD®) directional sound 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, 2009. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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