American Technology Corporation Announces Preliminary Record Fiscal 2005 Revenues; American Technology Corporation Announces Preliminary Record Fiscal 2005 Revenues; Forecasts Increasing HSS(R) Product Shipments
SAN DIEGO Oct. 11, 2005--
American Technology Corporation (ATC) (NASDAQ:ATCO), a
leading innovator of directed sound reproduction technologies and
products, today announced preliminary revenues for the fiscal year
ended September 30, 2005 to be between $10.1 million and $10.3
million, an increase of over 75 percent over revenues for the fiscal
year ended September 30, 2004. ATC expects increased HSS revenues in
the current quarter ending December 31, 2005 over the previous quarter
due to growing shipments of H450 units to U.S.-based and international
digital signage customers.
"We are emerging from several years of developing an extensive
portfolio of directed sound technologies and products," said Elwood G.
Norris, founder and chairman of ATC. "During our fourth fiscal
quarter, we derived revenues from a full line of directed sound
products while substantially cutting monthly operating and staffing
costs due to the completion of important product development
initiatives. We are now building upon the considerable investment we
have made in our proprietary HSS, NeoPlanar(R), LRAD(TM) and Sound
Vector(TM) technologies and intellectual property by quickly putting
in place the sales and marketing resources required to accelerate
annual revenue growth."
"We anticipate increasing commercial group revenues this quarter
and in fiscal 2006. We are making adjustments to our government and
force protection organization designed to expand business
opportunities, increase revenues, even out quarterly revenue
fluctuations, and provide added depth and experience to the government
sales and marketing efforts, both in the U.S. and abroad," Norris
continued.
Norris concluded, "With a full line of groundbreaking directed
sound products being produced, marketed and sold, and considering our
growing backlog of business, we expect fiscal 2006 revenues to exceed
our record fiscal 2005 revenues."
These preliminary revenue results are subject to completion of
fiscal year end accounting procedures by ATC's management and to audit
by its independent auditors. ATC expects to announce its final results
for the fourth fiscal quarter and the fiscal year ended September 30,
2005 by mid-December 2005.
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) products family; NeoPlanar(R) products family, Sound
Vector(TM) technology, and others. The Company is establishing a
strong portfolio of patents, trademarks, and intellectual property
including over 320 U.S. and foreign patents and pending patent
applications to date. For more information on the company and its
technologies and products please visit our web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information contained
herein, the matters discussed are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act. 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, including but not limited to completion of fiscal year end
closing procedures and audit of our results by our independent
auditors, market acceptance of our directed sound technologies and
products, entry of competitors, the possibility our intellectual
property protections will not prevent others from marketing products
similar to or competitive with our products, potential technical or
manufacturing difficulties that could delay product deliveries or
increase warranty costs, and other risks 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. American Technology
Corporation disclaims any intent or obligation to update those
forward-looking statements, except as otherwise specifically stated.
American Technology Corporation
Investor Relations:
Robert Putnam, 858-679-3168
robert@atcsd.com
or
Media Inquiries:
Don Mathias, 949-855-4520
dwmath@aol.com |
