SAN DIEGO, CA, CALIF., Aug. 19, 2014 (GLOBE NEWSWIRE) -- LRAD Corporation (Nasdaq:LRAD), the world's leading provider of long range acoustic hailing devices (AHDs), today announced the receipt of orders totaling approximately $1.7 million for LRAD® 500 and 1000X systems and accessories from two separate customers in Asia. A $1.0 million order represents the fourth overall order from this Asian customer, and second this fiscal year, for mounting on vehicles used for military and police applications. The second order, for approximately $700,000, is from a Southeast Asian Navy. Both orders are scheduled for delivery by December 31, 2014.
"LRAD continues to diversify and expand within international markets, as was shown in our recently reported fiscal third quarter results, where 82% of year-to-date revenues were generated overseas," noted Tom Brown, President and CEO of LRAD Corporation. "Repeat orders from our customers in these key markets are an indication of the effectiveness of the units in communicating commands and warning tones to enhance public safety."
Army, Navy and police organizations around the world are using Long Range Acoustic Devices® to provide a layered defense strategy for land and maritime forces to fill the gap between initial engagement and employing lethal force. It allows personnel time and distance to distinguish between security threats and innocent civilians, thereby helping to save lives on both sides of the Device.
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.
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.
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