SAN DIEGO, June 17, 2014 (GLOBE NEWSWIRE) -- LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), today announced the receipt of a $1.7 million order for LRAD-RX systems and accessories from an international navy in Southeast Asia. The LRAD-RX units will be mounted on vessels in the country's fleet, and used for various naval applications. An initial $950,000 is scheduled to ship by September 30, 2014, with the balance to be shipped as new vessels are built and commissioned.
"The LRAD brand continues to be the industry standard for acoustic hailing devices used for naval applications throughout the world," noted Tom Brown, President and CEO of LRAD Corporation. "The combination of superior voice intelligibility, exceptional broadcast range, and durable construction has enabled LRAD systems to maintain the dominant market share of military-grade acoustic devices. Armed forces, navies and police organizations throughout the world use LRAD systems daily to establish communications with potential threats, create large safety zones and to save lives."
The LRAD-RX can be operated onboard vessels or remotely across an IP network, enabling system operators to respond to potential threats from a safe location out of harm's way. The LRAD-RX provides highly intelligible speech transmissions over 3,000 meters to provide naval personnel additional time and valuable information to assess and appropriately respond to threat situations.
About LRAD Corporation
LRAD Corporation is using long range communication to peacefully resolve uncertain situations and save lives on both sides of its proprietary Long Range Acoustic Device®. LRAD® systems are being sold into 70 countries 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, emergency warning and mass notification, asset protection and wildlife preservation and control. For more information about the Company and its LRAD systems, please visit 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. 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, 2013. 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 858.753.8974
