LRAD Corporation Announces $17.6 Million LRAD(R) Systems and Maintenance Order
From a Foreign Government
Order Includes $5.5 Million Maintenance Agreement
SAN DIEGO, CA, Sep 29, 2010 (MARKETWIRE via COMTEX) -- LRAD Corporation (LRAD),
the global leader in acoustic hailing devices (AHDs), announced today it has
received a LRAD(R) systems and maintenance order from a foreign government for
one of its military services totaling approximately $17.6 million. The LRAD
systems order totals over $12.1 million and is scheduled to ship in the first
half of the Company's fiscal year 2011 (October 1, 2010 - March 31, 2011).
As part of the order, LRAD Corporation also received a multi-year maintenance
agreement worth approximately $5.5 million. Under the terms of the agreement, the
Company will establish and outsource several maintenance locations in the country
where the order originated. The foreign government is not being disclosed at this
time per the terms of the order.
LRAD Corporation's proprietary LRAD directed sound systems enable military forces
to communicate clearly and determine the intent of potential threats at safe
distances, providing time and distance to employ a measured response to a
threat's actions. Through the use of focused multi-lingual voice commands and
deterrent tones, LRAD creates large standoff and safety zones, supports peaceful
conflict resolution, and potentially saves lives on both sides of the device.
"LRAD systems are becoming an essential part of the layered defense strategies
being deployed by international military forces," commented Tom Brown, president
and CEO of LRAD Corporation. "LRAD provides military and security organizations
the unique capability of communicating, hailing, warning and determining intent
at distances up to three kilometers. The fact that this order is the largest
international order to date in the Company's history demonstrates the expanding
markets for, and the growing acceptance of, LRAD throughout the world."
About LRAD Corporation LRAD Corporation's Long Range Acoustic Device(R) (LRAD(R))
directional sound systems are being used around the world in diverse applications
including fixed and mobile military deployments, maritime security, critical
infrastructure and perimeter security, commercial security, border and port
security, law enforcement and emergency responder communications, and wildlife
preservation and control. For more information about LRAD Corporation and its
long-range directional sound systems, please visit the company's web site at
lradx.com. |
