ATCO Announces New Products and Business (TYCO)Relationships
Power Point Presentiation from meeting, link to the PDF is on press release at the web site
American Technology Corporation Announces New Products and Business Relationships at Annual Meeting of Shareholders; Company Provides Updated Business and Revenue Guidance
SAN DIEGO--(Business Wire)--April 29, 2005--
American Technology Corporation (ATC) (Nasdaq:ATCO) a
leading innovator of proprietary sound reproduction technologies and
products, announced revenue for the three and six months ended March
31, 2005, and new products and business relationships at its Annual
Meeting of Shareholders held yesterday in San Diego.
The formal business of the meeting included the ratification of
BDO Seidman, LLP, as the Company's independent auditors for its fiscal
year ending September 30, 2005, the approval of a new equity incentive
plan, and the election of Elwood G. Norris, Kalani Jones, Richard M.
Wagner, David Carter and Daniel Hunter to the Board of Directors.
After the conclusion of the formal business of the meeting, Elwood G.
Norris, founder, chairman and chief executive officer, Kalani Jones,
president and chief operating officer, Bruce Gray, vice president of
the company's Business Group (now renamed, the Commercial Products
Group), and Carl Gruenler, vice president of the company's Government
and Force Protection Systems Group (Government Group), gave business
and technology presentations.
MEETING HIGHLIGHTS BY PRESENTERS
Elwood G. Norris -- Founder, Chairman & CEO
-- One year ago, ATC began turning its revolutionary sound
reproduction technologies into products, recording $5.8
million in revenue in fiscal 2004.
-- To date, ATC has received orders for over $8.0 million in
products and services since the beginning of fiscal 2005.
-- ATC is unique in its corporate mission and believes its sound
reproduction technologies have the potential to create many
new products and markets.
-- ATC intends to be the driving force in creating and reaping
the rewards of Shaping the Future of Sound(R).
Kalani Jones -- President and COO
-- ATC's strength is its ability to innovate and create valuable
sound reproduction intellectual property, technology and
products that produce a significant competitive advantage for
ATC and its customers.
-- Through ATC's two operating divisions, the Commercial Products
Group and the Government Group, ATC is focused on bringing
products incorporating its core HyperSonic Sound(R) (HSS(R)),
NeoPlanar(R) and LRAD(TM) technologies to large growing
markets that have the potential to produce, over time, greater
than $100 million annually to ATC.
-- Intellectual property in the form of patents, patent filings,
trademarks and registered trademarks are critical to the
Company's success.
-- ATC has hired a fulltime patent attorney, Cliff Thompson.
-- ATC expects to continue investing in advancing and protecting
its intellectual property.
-- ATC expects to continue funding the research and development
of new sound reproduction technologies and products.
-- The Commercial Products Group is focused on selling ATC's
proprietary sound reproduction products to companies in the
digital signage, display and consumer markets through national
and international distribution partners.
-- The Government Group is focused on selling LRAD and
NeoPlanar-based products through the force protection and mass
notification markets to national and international
governments, military agencies, and commercial companies.
Bruce Gray -- Vice President of the Commercial Products Group
-- Group strategy: Selling HSS and NeoPlanar products directly to
large integrators and small stocking resellers in North
America and Europe, while adding authorized resellers in North
America, and increasing licensing and OEM sales.
-- Announced a new partnership with the U.S. Audio Video Group
(USAV), a national association of leading professional
audio/video solutions providers headquartered in Denver. USAV
has selected ATC as its sole provider of directional sound
products. USAV and its 25 individual dealers will expand the
availability of ATC's sound reproduction products throughout
North America.
-- Announced SoundVector(TM), a patent-pending technique by which
sound pressure waves from a single conventional loudspeaker
system are redirected to create, 1) canceling waves, and 2)
reinforcing waves. SoundVector eliminates sound waves in the
rearward direction and nearly doubles the sound volume in the
forward direction.
-- One year ago, ATC's efforts in the digital signage market were
limited to promotions, market development, and early-stage
pilot programs. Today, pilots are being completed and projects
are at the bid stage with several accounts reaching the end of
the "sales funnel" process.
-- In the last thirty days, the Commercial Products Group has
received over 500 inbound sales inquiries, 19 new RFQ's
(requests for quotes) and has released 7 formal bids.
-- Provided a preview of ATC's new look to the Company's new
website, tradeshow booth, and marketing materials. The new
website is scheduled to go on-line this summer.
Carl Gruenler -- Vice President of the Government and Force
Protection Group (Government Group)
-- Group mission: To be the pre-eminent acoustic provider for
force protection and new-generation intelligibility solutions
to the worldwide security and mass notification markets.
-- Focused on selling versions of the company's LRAD, hardened
NeoPlanar products, and incorporating HSS technology to create
new parametric-enabled devices. All of these technologies and
products provide intelligibility and directionality over
distance.
-0-
*T
-- Focused on selling into the following markets:
-- Anti-terrorism/force protection (AT/FP) for low intensity
conflict/military operations other than war, critical
infrastructure and border force protection, and law
enforcement.
-- Mass notification/public address systems for outdoor
emergency response and notification, and indoor use for
general announcing in difficult sound environments.
-- Engineered solutions that design around critical
infrastructure requirements, integrate companion
technologies, and solve difficult acoustic challenges.
*T
-- The Government Group is partnering with U.S. and international
companies on teaming agreements, prime vendor contracts, and
customer direct, through completed contracts.
-- Current customers with product deployments include the U.S.
Army, U.S. Marine Corps, U.S. Navy, U.S. Coast Guard, U.S.
Border Patrol, Port Authority New York/New Jersey, New York
Police Department and many others.
-- Prospective customers of the Government Group include
Department of Defense agencies, national and international
government agencies, local, national and international law
enforcement agencies, and commercial interests.
-- Announced SoundSaber(TM), a new version of ATC's hardened
NeoPlanar technology for providing intelligibility in
challenging acoustic environments.
-- Introduced NeoPlanar-based Sound Sentinel(TM) for the mass
notification market. Sound Sentinel provides intelligibility
in excess of 500 yards, communicates effectively over high
ambient noise, controls unnecessary noise pollution,
eliminates OSHA noise hazards close to the device, and
addresses rapid multi-language effective communications.
-- Announced working relationship with global partner, Tyco/ADT
Security Systems, on marketing and deploying Sound Sentinel.
ATC and Tyco/ADT Security Systems are partnering to address
federal, state, and local governments and agencies.
-- Announced ATC has received the first of several expected Sound
Sentinel orders from Tyco/ADT Security Systems. The initial
order is worth $356,000.
-- LRAD, and new members of the LRAD products family, such as the
recently announced MRAD, continue to be the main focus and
revenue generator for the Government Group and ATC.
-- LRAD is a highly effective non-lethal capability for hailing
and warning intelligibly at distance, waterside force
protection, crowd control, area denial, clearing buildings,
humanitarian operations, psyops, and other applications.
-- LRAD warns, communicates effectively, affects behavior,
determines intent, and supports immediate escalation of
non-lethal capability.
-- LRAD has incorporated pan and tilt functionality, and can be
networked and remotely operated, and integrated with
surveillance, detection and tracking capabilities.
-- The majority of the LRADs currently in the field are being
used to support Operation Iraqi Freedom.
-- ATC is working with the Department of Defense to facilitate
increasing LRAD orders and to make LRAD eligible for funded
programs of record.
-- ATC has received follow-on commercial LRAD orders from the
cruise line industry with further orders expected.
-- The Government Group is working with U.S. and international
partners on deploying LRAD, and enhanced versions of LRAD, in
critical infrastructure AT/FP applications for industrial and
military complexes, dams, bridges, tunnels, airports, water
treatment facilities, communications towers, oil pipelines,
refineries, terminals, platforms, power plants, seaports,
warships, commercial shipping, and border protection.
-- ATC believes the economic justification for large, networked
LRAD deployments includes substantial cost avoidance from
revenue interruption, costs of repair, and the impact to
markets, the environment, and national and international
economies.
Kalani Jones concluded the management presentation with the
following:
-- The Government Group is expected to contribute the majority of
the Company's revenue this fiscal year.
-- The Commercial Products Group expects to land its first large
digital signage deal this calendar year.
-- Because ATC is in the early stages of creating new markets and
enhancing traditional markets with its sound reproduction
technologies and products, quarterly revenues are expected to
be uneven while annual revenue is expected to grow
significantly year over year.
-- For the second fiscal quarter (for the period ended March 31,
2005) the Company expects to report over $2.8 million in
revenue. Revenue for the six months ended March 31, 2005 is
expected to be approximately $7.2 million. Form 10-Q, for the
period ended March 31, 2005, is scheduled for filing on or
before May 10, 2005.
"Beyond the products and business relationships we announced at
yesterday's meeting, we are also working on new extensions of our
sound reproduction technologies. One of these extensions includes new
directional sound products for replacing today's hazard signals,
back-up alarms, sirens and train whistles," said Jones. "This is just
one of many areas where we are Shaping the Future of Sound(R),
creating new markets for our sound reproduction technologies and
products which we believe have vast potential for ATC, our
shareholders, and our customers."
About American Technology Corporation
American Technology Corporation is Shaping the Future of Sound(R)
by developing, manufacturing and globally distributing its proprietary
sound technologies and products which include: the award-winning
HSS(R) (HyperSonic(R) Sound technology); LRAD(TM) (Long Range Acoustic
Device); NeoPlanar(R) planar magnetic technology and others. The
Company is establishing a strong portfolio of patents, trademarks, and
intellectual property including over 160 U.S. and foreign patents and
patent filings to date. For more information on the company and its
technologies and products please visit our web site at www.atcsd.com.
29Apr05 13:00 GMT
Symbols:
de;TC1 us;ATCO |
