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Technology Stocks : ATCO -- Breakthrough in Sound Reproduction -- Ignore unavailable to you. Want to Upgrade?

To: Brewmeister who wrote (1252)	2/20/2003 9:28:02 AM
From: Savant	Respond to of 2062

ATCO-American Technology Announces Licensing and Sales Agreements With General Dynamics SAN DIEGO--(BUSINESS WIRE)--Feb. 20, 2003-- NeoPlanar(R) Audio Components and HIDA(TM) Devices To be Sold by General Dynamics to Military and Government Markets American Technology Corp. (ATC) (Nasdaq:ATCO) announced today that it has entered into two, five-year licensing and sales agreements with divisions of General Dynamics (NYSE:GD) to market and sell ATC's proprietary NeoPlanar and HIDA products and components to government and military markets, including all branches of the U.S. armed services. General Dynamics Bath Iron Works will market and sell ATC's NeoPlanar audio components, and General Dynamics Armaments and Technical Products will market and sell the company's High Intensity Directed Acoustic (HIDA) devices. ATC's first year revenues under the agreements are expected to exceed $1,000,000 and to grow rapidly. ATC and General Dynamics have been cooperating for more than a year in delivering NeoPlanar products to the Navy, with installations of NeoPlanar speaker panels aboard the USS Winston S. Churchill and the USS Carl Vinson. ATC is expanding manufacturing capacity for HIDA devices and NeoPlanar panels for installation in military vessels, vehicles and in large government facilities. NeoPlanar products offer very high power handling capacity at superior sound pressure levels in a flat, thin form factor for clarity over long distances. These and other NeoPlanar applications are being developed and targeted for military, government and Homeland Security markets. HIDA devices incorporate highly-directional long-range hailing capability with acoustic non-lethal weapon potential to meet the increasing need to warn and protect ships, vehicles and facilities from would-be intruders. HIDA has been successfully tested in field conditions in hailing intruders at 500 yards or more without unduly distracting bystanders. "We have worked with the engineers at ATC for over 18 months to develop solutions for the demanding requirements of military and government customers," said James E. Baskerville, vice president of ship support services and advanced technology for Bath Iron Works. "NeoPlanar and HIDA technologies meet growing needs for improved security, range and clarity in military communications." "These agreements establish a large, competent national distribution network for our innovative sound solutions to government and military customers," said Terry Conrad, president of American Technology Corp. "General Dynamics will exclusively represent HIDA and NeoPlanar to all branches of the military, the agencies that comprise the Department of Homeland Security and other federal agencies and entities, for a range of applications. The General Dynamics units have assigned experienced and talented teams that are already taking aggressive steps to market our HIDA and NeoPlanar technologies. We will continue to focus our internal marketing and sales resources on selling our revolutionary HyperSonic(R) Sound products and shaping the future of sound." About General Dynamics General Dynamics has leading market positions in shipbuilding and marine systems, land and amphibious combat systems, information systems, and business aviation. The company employs 54,000 people and had 2002 revenues of $13.8 billion. More information about General Dynamics can be found on the worldwide Web at www.generaldynamics.com. 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; Stratified Field(R) technology and high intensity directed acoustics (HIDA(TM)). The company is establishing a strong portfolio of patents, trademarks and know-how including over 124 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 Corp. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated by it.