SAN DIEGO, April 28, 2015 (GLOBE NEWSWIRE) -- LRAD Corporation (NASDAQ: LRAD), the world's leading provider of long range acoustic hailing devices (AHDs) and advanced mass notification systems, today announced orders from the United States Navy totaling $560,000. Both orders are scheduled to ship this fiscal year.
The United States Navy orders are being delivered under the multi-year $12.2 million firm-fixed-price, IDIQ contract the Company was awarded in June 2013. The remotely operated LRAD-RX systems will be mounted on naval vessels for long-range communication, security and safety use. Designed for integrated applications ranging from maritime vessels to coastal, border and port security, LRAD-RX systems are controlled across an IP network enabling operators to create a fully functional, unmanned perimeter security and remote response solution.
"Our all-weather LRAD-RX systems are ideal for naval operations and establishing an acoustic standoff perimeter to communicate with, or determine the intent of approaching vessels not responding to radio calls," remarked Tom Brown, President and CEO of LRAD Corporation. "LRAD's unmatched acoustic performance is being used around the world for naval peacekeeping, anti-terrorism and force protection applications."
About LRAD Corporation
LRAD Corporation manufactures long range acoustic hailing devices and advanced mass notifications systems to 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 mass notification and public address, fixed and mobile defense deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, asset protection, and wildlife control and preservation.
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, 2014. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
CONTACT: E. Brian Harvey Director, Investor Relations and Capital Markets 858.753.8974 firstname.lastname@example.org