LRAD® Corporation Receives $780,000 in Follow-On US Navy Orders
SAN DIEGO, CA – May 17, 2018 – LRAD Corporation (NASDAQ: LRAD), the global leader in long-range voice broadcast systems, advanced mass notification and distributed recipient solutions, today announced follow-on U.S. Navy (“Navy”) LRAD 500X and LRAD SoundSaber® orders totaling $780,000.
“The LRAD 500X systems further fulfill fleet requirements to equip Navy surface combatants with LRAD’s long-range communication and escalation of force capabilities,” commented Richard S. Danforth, Chief Executive Officer of LRAD Corporation. “The SoundSaber systems are slated for installation on an amphibious assault ship. Navy surface combatants, submarines, and the Naval Construction Battalions (Seabees) continue to utilize LRAD systems in support of their missions.”
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 voice broadcast intelligibility is also used during search and rescue operations, boarding vessels, and interdictions at sea.
LRAD SoundSabers are the speaker array of choice for hanger bays on Navy aircraft carriers and large deck amphibious assault ships.
The Naval forces and Coast Guard fleets of 24 countries fill 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
The Company’s proprietary Long Range Acoustic Devices®, advanced ONE VOICE® mass notification systems and innovative Genasys™ mass messaging solutions are designed to enable users to safely hail and warn, inform and direct, prevent misunderstandings, determine intent, establish large safety zones, resolve uncertain situations, and save lives. LRAD systems are in service in 72 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, 2017. 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