LRAD® Corporation Announces $6.0 Million US Army Program of Record Order
SAN DIEGO, CA – September 28, 2017 – LRAD Corporation (NASDAQ: LRAD), the world’s leading provider of acoustic hailing devices (“AHDs”) and advanced mass notification systems, today announced a $6.0 million LRAD 500X systems, accessories and spare parts order from the U.S. Army (“Army”) under the Army’s AHD program of record. The order is scheduled to ship by December 31, 2017.
“This is our largest domestic order to date and part of a much larger Army AHD requirement,” remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “This order further demonstrates the Army’s continuing commitment to LRAD and its fulfillment of an ongoing AHD program.”
The Army’s AHD of choice, the extended frequency range of the LRAD 500X ensures voice broadcasts and deterrent tones are clearly heard and understood on the ground, from the air, and at sea in any environment. Rugged, compact and lightweight, the LRAD 500X easily mounts and transports to provide defense forces with unparalleled long-range communication and scalable, non-kinetic escalation of force. For more information, please click LRAD 500X.
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 are designed to enable users to safely hail and warn, inform and direct, prevent misunderstandings, determine intent, establish large safety zones, and resolve uncertain situations. 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.LRAD.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, 2016. 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