American Technology to Report Over $10 Million in Revenues for Fiscal 2007
LRAD(R) Sales Powering Revenue Growth
SAN DIEGO, CA, Oct 03, 2007 (MARKET WIRE via COMTEX) -- American Technology
Corporation (ATC) (ATCO), a leading innovator of directed sound products and
technologies, announced today that it expects to report over $10 million in
revenues for its fiscal year 2007 ended September 30, 2007. Powered by the
Company's growing LRAD(R) business, ATC expects to report that it surpassed
fiscal year 2006 revenues of $8.9 million with further revenue growth expected in
fiscal 2008.
"We are experiencing improved financial results from the major initiatives we
implemented a year ago," said Tom Brown, president and CEO of American
Technology. "Fiscal 2007 business growth came through enhanced product
performance and working with an increasing number of established companies and
organizations to integrate our directed sound solutions into their products and
systems. This, coupled with the completed facility consolidation and management
restructuring, reduced product costs and greater product margins, is expected to
result in improved fiscal year-over-year performance."
"LRAD sales continued to lead the way in our just concluded fiscal Q4," remarked
Brown. "We delivered our first LRAD orders to China along with further shipments
to Singapore, Europe, Russia, Israel, Australia, the U.K. and to the U.S.
military. With the U.S. Navy's recent selection of our enhanced LRAD 1000(R) as
its acoustic hailing and warning device (AHD) for large vessels, and the U.S.
Navy and U.S. Army's selection in May of our enhanced LRAD 500(R) as their AHD
for small vessels and vehicles, we believe we are poised for significant LRAD
revenue growth in fiscal 2008."
ATC also announced today that it has received an integrated LRAD-R(R)/radar order
from the Arizona National Guard. The Company expects to deliver the order this
quarter.
Commenting on ATC's growing public and private security LRAD-R(R) business, Brown
said, "LRAD-R was well received by the more than 23,000 security professionals
from around the world that attended the 53rd Annual ASIS International tradeshow
last week in Las Vegas. LRAD-R was the only product at ASIS that utilized sound
to create an active defense system to locate, track, communicate with, and deter
intruders. We expect new business to result from our meetings last week."
"We also expect growing LRAD orders from the U.S. military and from international
governments and militaries through both direct and integrated sales facilitated
by defense and security-related firms," concluded Brown. "We look forward to
finalizing and issuing fiscal 2007 results later this quarter as well as
announcing new orders and business developments."
About American Technology Corporation
American Technology Corporation is Shaping the Future of Sound(R) by providing
directed audio solutions that place clear, highly intelligible sound exactly
where needed. ATC's Long Range Acoustic Device (LRAD(R)), HyperSonic(R) Sound,
and NeoPlanar(R) product lines make up the core of an expanding portfolio of
directed sound products and technologies. For more information about ATC and its
directed sound solutions please visit the company's web site at
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, the
performance of our management team, 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. For more information regarding other
potential risks and uncertainties, see the "Risk Factors" section of the
company's Form 10-K for the year ended September 30, 2006 and the company's Form
10-Q for the quarter ended June 30, 2007. American Technology Corporation
disclaims any intent or obligation to update those forward-looking statements,
except as otherwise specifically stated.
FOR FURTHER INFORMATION CONTACT:
Investor Relations:
Robert Putnam
(858) 676-0519
Email Contact
SOURCE: American Technology Corporation |
