LRAD® Corporation Announces US Navy Orders
SAN DIEGO, CA – September 20, 2017 – LRAD Corporation (NASDAQ: LRAD), the world’s leading provider of acoustic hailing devices and advanced mass notification systems, today announced over $600,000 in orders for the U.S. Navy (“Navy”). The orders are scheduled to ship in the Company’s next fiscal year.
“The orders include LRAD 100X systems for use by surfaced submarines to communicate to small boats and vessels, LRAD 300X systems for a Naval Construction Battalion (“Seabees”), and spare parts and accessories,” remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “The Seabees order is the Company’s first for the elite Naval Construction Battalions. These orders demonstrate the Navy’s continued reliance on LRAD to meet its long range communication requirements.”
LRAD systems help determine the intent of vessels not responding to radio calls, alter threat behavior and enlarge vessel standoff zones for ships underway, pier side or at anchor. LRAD’s unmatched long-range communication and acoustic performance is also used during search and rescue operations, boarding vessels, and interdictions at sea.
From the portable LRAD 100X to larger systems temporarily or permanently mounted on vehicles, vessels and helicopters, defense organizations around the world are filling the critical gap between initial engagement and the escalation of force with LRAD’s unparalleled long-range communication and scalable, non-kinetic deterrent capability.
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