LRAD Corporation Receives LRAD 300X(TM) Order for Colombian Navy Coastal
SAN DIEGO, Feb. 7, 2013 (GLOBE NEWSWIRE) -- LRAD Corporation (Nasdaq:LRAD),
the world's leading provider of long range acoustic hailing devices (AHDs),
announced today it has received a $323,000 order for LRAD 300X systems and
support equipment. The LRAD 300X systems will be installed on Colombian Navy
coastal defense patrol boats.
"We're pleased to receive another follow-on order from Colombia, which
highlights the opportunity for international sales growth of LRAD® products,"
remarked Tom Brown, the Company's president and CEO. "The Colombian Navy will
be employing the LRAD 300X systems to broadcast warnings and critical
information to vessels from safe, stand off distances. During suspect boat
interceptions, LRAD systems ensure naval authorities' commands and
instructions are clearly heard and understood over engine, wind and background
noise to help control these situations and avoid violent confrontations."
The order from the Colombian Navy follows prior orders from the Colombian Air
Force, Army, and National Police, which use helicopter-mounted LRADs for
communicating demobilization messages to guerrillas living in the rain
forests. The country's National Police also use vehicle mounted LRADs for
civil defense missions and emergency response communications.
The LRAD 300X is a low profile, lightweight, long-range communication solution
for use on armored vehicles, common remotely operated weapon stations (CROWS)
and small vessels. Easily transported, the 300X provides military and law
enforcement personnel a highly effective hailing and warning capability. LRAD
300X operators have the ability to issue clear, authoritative voice commands
and deterrent tones to enhance response capabilities.
About LRAD Corporation
LRAD Corporation is using long range communication to resolve uncertain
situations peacefully and save lives on both sides of its proprietary Long
Range Acoustic Device®. LRAD® systems are in service 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, emergency warning and mass notification, asset protection, and
wildlife preservation and control. For more information about the Company and
its LRAD systems, please visit www.lradx.com.
Important Additional Information
This release may be deemed to be solicitation material in respect of a proxy
contest for the election of directors to the Board of Directors of the
Company. The Company will be filing a proxy statement with the Securities and
Exchange Commission (the "SEC"). STOCKHOLDERS ARE URGED TO READ THE PROXY
STATEMENT AND ANY OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH
THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION. Stockholders will be able to receive the proxy statement and
other relevant documents free of charge at the SEC's website at www.sec.gov,
or upon written request to the Secretary of LRAD Corporation at 16990
Goldentop Road, STE A, San Diego, California 92127.
Participants in Solicitation
The Company and its directors and executive officers and other members of
management and employees may be deemed to be participants in the solicitation
of proxies in respect of a proxy contest for the election of directors to the
Board of Directors of the Company. Information concerning these participants
is set forth in the proxy statement, dated January 23, 2012, relating to the
Company's 2012 Annual Meeting of Stockholders as filed with the SEC on
Schedule 14A, and the Company's 2012 Annual Report on Form 10-K/A, as filed
with the SEC on January 22, 2013. Additional information regarding the
interests of participants in the solicitation of proxies in respect of the
2013 Annual Meeting of Stockholders and other relevant materials, including
the Company's proxy statement, will be filed with the SEC when they become
Forward-looking Statements: This release contains forward-looking statements
within the meaning of the Securities Act of 1933 and the Securities Exchange
Act of 1934. 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.
These risks and uncertainties are identified and discussed in our filings with
the SEC. 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 due to a variety of factors
including, among others, general economic conditions, our dependence on a
limited number of customers, our dependence on continued sales to U.S. and
international governments and businesses that sell to governments, our ability
to obtain financing on favorable terms, or at all, and our ability to expand
our customer base and the acceptance of our products. For more information
regarding other potential risks and uncertainties, see the "Risk Factors"
section of the Company's Form 10-K for the fiscal year ended September 30,
2012. The Company disclaims any intent or obligation to update those
forward-looking statements, except as otherwise specifically stated.
CONTACT: Robert Putnam
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