LRAD Corporation Awarded $6.2 Million LRAD-RX(R) Systems and Services Order From U.S. Navy
LRAD Corporation (NASDAQ: LRAD), the global leader in acoustic hailing devices (AHDs), announced today it has been awarded a multi-year $6.2 million integrated LRAD-RX@ systems and services order from the U.S. Navy. Per the U.S. Navy's schedule, the initial delivery from this order is scheduled to ship before the end of the calendar year.
"The U.S. Navy's selection of LRAD-RX as their remotely controlled AHD is a major milestone in the deployment of LRAD systems throughout the fleet," remarked Tom Brown, president and CEO of LRAD Corporation. "The award was competitively bid and we received it after going head-to-head with another AHD offering in extensive testing conducted by the U.S. Navy. We're pleased to be part of the Shipboard Protection System and for the U.S. Navy's recognition of LRAD and our proprietary pan and tilt drive as the best AHD solution."
LRAD Corporation's proprietary LRAD-RX is the prescription for remotely controlled security, enabling system operators to detect and broadcast to an intruder over distance. Featuring an integrated camera, high-intensity searchlight (optional) and LRAD Corporation's robust, IP-addressable full pan and tilt drive for precise aiming and tracking, LRAD-RX can also be integrated with radar to provide automated intruder alerts. Because of its automated capabilities, LRAD-RX reduces manpower and false alarms while providing a highly productive, cost-effective security solution.
LRAD-RX uses its directionality and focused acoustic output to clearly transmit critical information, instructions and warnings beyond 3000 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.
"Our integrated LRAD-RX system is highly effective in the marine environment communicating over distance, determining intent, resolving uncertain situations and saving lives on both sides of the device," concluded Brown.
About LRAD CorporationLRAD 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 (http://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.