Genasys™ Inc. Receives $12.6 Million U.S. Army Follow-on Order

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) announced a significant $12.6 million follow-on order from the U.S. Army for its LRAD 450XL acoustic hailing devices, marking the third order under a $110 million program. These devices enhance communication and force escalation capabilities for military operations. Designed for various mounting options, the LRAD 450XL promises clarity and reach, with applications in defense and public safety across 72 countries. The company anticipates another order later this quarter, further solidifying its position in critical communications solutions.

Positive

• Received a $12.6 million follow-on order from the U.S. Army.
• Total orders for LRAD 450XL now amount to $12.6 million under a $110 million program.
• Another order expected later this quarter, indicating continuing demand.

Negative

• None.

SAN DIEGO, May 13, 2020 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), a global provider of critical communications systems and solutions, today announced a $12.6 million follow-on order from the U.S. Army (“Army”) for LRAD^® 450XL acoustic hailing devices (“AHDs”), spares and accessories. This is the Company’s third LRAD 450XL order received under the $110 million Army AHD program. Another order is expected later this quarter.

“The LRAD 450XL provides the Army with critical communications and scalable escalation of force capabilities,” said Richard Danforth, Chief Executive Officer of Genasys Inc. “These LRAD systems will be fielded with Active Duty, Reserve, and National Guard Military Police, PSYOPS and transportation security units.”

Low profile, lightweight and designed to be mounted on tripods, vehicles, small vessels, and Common Remotely Operated Weapon Stations (CROWS), the LRAD 450XL incorporates Genasys’ patented technology to generate the audio output of a unit almost twice its size and weight with the same high level of clarity and intelligibility consistent with the LRAD product line.

Defense, homeland security and public safety agencies throughout the world use LRAD systems to deliver audible voice messages and alert tones with industry-leading vocal clarity and distance to safely warn and notify, establish large standoff zones, determine intent, resolve uncertain situations, and save lives on both sides of the Long Range Acoustic Device^®.

About Genasys Inc.
Genasys™ is a global provider of critical communications solutions to help keep people safe. 
Genasys systems are in service in 72 countries in diverse applications, including public safety, national emergency warning systems, mass notification, defense, law enforcement, critical infrastructure protection and many more. For more information, visit genasys.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. These forward-looking statements are subject to a number of risks and uncertainties, including the consequences of the COVID-19 outbreak, other pandemics and other risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control. Risks and uncertainties are 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, 2019. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

Investor Relations Contacts
Jim Fanucchi and Satya Chillara
Darrow Associates, Inc.
ir@genasys.com

FAQ

What recent order did Genasys Inc. receive related to the LRAD 450XL?

Genasys Inc. received a $12.6 million follow-on order from the U.S. Army for the LRAD 450XL acoustic hailing devices.

How does the LRAD 450XL benefit the U.S. Army?

The LRAD 450XL enhances critical communications and scalable escalation of force capabilities for the Army.

What is the total value of the Army's AHD program that Genasys is involved in?

The total value of the Army's AHD program is $110 million.

How many countries use Genasys systems?

Genasys systems are in service in 72 countries worldwide.

When is Genasys expecting another order from the Army?

Genasys anticipates another order from the Army later this quarter.