American Technology Corp. Awarded Key Military Contract to Deliver Modified Long Range Acoustic Devices -LRAD-TM-
American Technology Corp. to Integrate LRAD into Navy
Shipboard Force Protection Systems
American Technology Corp. (ATC) (Nasdaq:ATCO) announced today that
it has received, through General Dynamics Armament and Technical
Products division, a key contract awarded by the Naval Surface Warfare
Center Crane. The contract calls for ATC to deliver modified LRADs to
support the pan/tilt and remote operation of the Aircraft Carrier
Situational Awareness System (ACSAS) and Integrated Radar Optical
Sighting & Surveillance System (IROS3).
ACSAS and IROS3 are the U.S. Navy's high profile shipboard force
protections systems of the future, expected to be installed on all
aircraft carriers and surface combatants to protect against small boat
threats in port, restricted waters and littoral zones. LRAD adds
significant capability to the integrated optics, command and control,
and lethal weapon suite by providing a simple, repeatable and reliable
way to determine intent through long range hailing and warning.
"This contract award represents a significant step towards LRAD's
recognition as 'The Sound of Force Protection(TM)'", said Carl
Gruenler, vice president of Military Operations. "ACSAS and IROS3 are
completing the research, development, test and evaluation phase this
year. Should these similar systems for multiple platforms be evaluated
favorably as expected, they will become programs of record with
installation on Navy carriers and surface combatants commencing in
calendar year 2004."
"The initial contract is expected to bring approximately $240,000
in revenue to ATC over the next three months. If LRAD-enabled ACSAS
and IROS3 become the standard for the Navy, LRAD could quickly be
deployed throughout the fleet's more than 300 ships," concluded
Gruenler.
About American Technology Corp.
American Technology Corp. is Shaping the Future of Sound(R) by
developing and licensing its technology and intellectual property
portfolio which includes: the award-winning HSS(R) (HyperSonic(R)
Sound Technology); NeoPlanar(R) Technology; PureBass(R) Sub-Woofer
Technology; HIDA(TM) (High Intensity Directed Acoustics), LRAD(TM)
(Long Range Acoustic Device) and SFT(R) (Stratified Field(R)
Technology). The company is establishing a strong portfolio of
patents, trademarks, and know-how including over 138 U.S. and Foreign
patents and patent filings to date. For more information on the
company and its technologies and products visit our Web site at
www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: This document contains forward-looking statements
relating to future transactions, performance, technology and product
development which may affect future results and the future viability
of the company. Actual results could be affected or differ materially
from those projected in the forward-looking statements as a result of
risks and uncertainties, including the ability of the company to
continue as a going concern, development of future products,
technological shifts, potential technical or manufacturing
difficulties that could delay new products, competition, general
economic factors, pricing pressures, the uncertainty of market
acceptance of new products and services by OEMs and end-user
customers, and other factors identified and discussed in the company's
most recent 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 the company's current expectations. American
Technology Corporation disclaims any intent or obligation to update
those forward-looking statements, except as otherwise specifically
stated by it.
Editors Note: HyperSonic Sound, HSS, LRAD, The Sound of Force
Protection and Shaping the Future of Sound are trademarks or
registered trademarks of American Technology Corp. All other company,
product, and service names are the property of their respective
owners.
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