10/10/2019 | Press release | Distributed by Public on 10/10/2019 08:22
Sales Up 93% Over Fiscal Year 2018
SAN DIEGO, CA - October 10, 2019- LRAD Corporation (NASDAQ: LRAD), a global leader in critical communication systems, today announced that its U.S. law enforcement sales in fiscal year 2019 were up 93% over fiscal 2018 to a record $1.0 million. The Company's law enforcement sales averaged $683,000 annually over the four previous fiscal years.
'The record law enforcement sales are attributed to the superior performance of our acoustic hailing devices ('AHDs'), the efforts of our business development team, and the complimentary Federal grant preparation service we offer departments seeking to procure LRAD systems,' remarked Richard S. Danforth, Chief Executive Officer of LRAD Corporation.
LRAD's industry-leading voice intelligibility, broadcast distances and reliability provide law enforcement essential communication and peacekeeping capabilities for:
'The U.S. government allocates more than $2 billion annually in law enforcement and public safety-related Federal grants,' Mr. Danforth added. 'The prevalence of Federal grants and our AHDs' proven ability to protect the public and safeguard police personnel are compelling more departments to outfit their officers with LRAD systems.'
The Company is scheduled to exhibit its LRAD systems at the 126th IACP (International Association of Chiefs of Police) Annual Conference and Exposition from October 27 - 29 in Chicago. Since 1893, the IACP has been shaping the law enforcement profession. The IACP Annual Conference and Exposition has been the foundation, providing leaders with new strategies, techniques, and resources they need to successfully navigate the evolving policing environment.
LRAD is fundamentally changing the way law enforcement agencies conduct everyday duties and elevated risk operationsLRAD eliminates confusion and establishes greater standoff distance between police officers and potentially dangerous situations by broadcasting exceptionally clear voice communications from close range out to 2,000 meters. LRAD systems are rugged, easy to operate and can be mounted temporarily or permanently on vehicles, boats and helicopters. LRAD is Law Enforcement's critical communication system of choice for resolving uncertain situations and saving lives.
About LRAD Corporation
The Company's proprietary Long Range Acoustic Devices® and advanced Genasys™ mass notification systems and mobile alert solutions are designed to enable users to safely hail and warn, notify and direct, prevent misunderstandings, determine intent, establish large safety zones, resolve uncertain situations, and save lives.
LRAD systems are in service in more than 450 U.S. cities, counties and states in diverse applications, including public safety, mass notification, defense, law enforcement, fire rescue, homeland and border security, and critical infrastructure protection. For more information, visit LRAD.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, 2018. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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