Company Produces Third Consecutive Fiscal Year of Record Revenues and
First Profitable Fiscal Year
(SAN DIEGO, CA, October 6, 2010) – LRAD Corporation (Nasdaq: LRAD) the global leader in acoustic hailing devices (AHDs), announced today that it expects to report record revenues of over $17 million for the fiscal year ended September 30, 2010.
“We enter fiscal year 2011 with a record backlog and significant business momentum,” stated Tom Brown, president and CEO of LRAD Corporation. “We’re pleased with our fiscal year 2010 performance as we anticipate reporting our fourth consecutive year of record LRAD® revenues and our first profitable fiscal year.”
“During the last two months, we’ve landed approximately $30 million in new LRAD systems and services orders demonstrating the growing markets for LRAD AHDs,” Brown added. “To date, we’ve sold LRAD systems into over 30 countries around the world and we recently received orders from four more international naval forces. With these and other expected orders, this fiscal year we anticipate continued strong financial performance and substantial revenue growth.”
About LRAD Corporation
LRAD Corporation’s Long Range Acoustic Device® (LRAD®) 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 http://www.lradx.com/.
Forward-looking Statements: Except for historical information contained herein, the matters discussed are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. 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 fiscal year ended September 30, 2009. LRAD 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 begin_of_the_skype_highlighting (858) 676-0519 end_of_the_skype_highlighting
robert@lradx.com
