QualityStocks would like to highlight LRAD Corp. (
NASDAQ: LRAD). The company develops and sells directed sound technologies and products around the world, 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 globally 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.
In the company’s news,
LRAD announced that the United States Navy’s Naval Surface Warfare Center, in Crane, Indiana, has awarded a $12.2 million firm-fixed-price, multi-year, indefinite-delivery/indefinite-quantity contract for small, medium, and large LRAD AHDs. LRAD won this contract over two other companies in a competitive bidding process. United States Navy contract funds in the amount of $1,988,785 will be obligated at time of award.
“We are pleased to be awarded this contract and to continue our working relationship with the United States Navy,” remarked Tom Brown, president and CEO of LRAD Corporation. “LRAD systems and support equipment will be used to support large and small deck naval surface ships, submarines, security boats and shore security operations in anti-terrorism/force protection missions. Having received competitively bid multi-year contracts from the United States Navy in 2007 and 2010, this new award continues to demonstrate that LRAD Corporation is the world’s leading manufacturer of acoustic hailing devices.”
The deadly attack on the USS Cole over twelve years ago spurred the development of the company’s proprietary LRAD systems. Presently, LRAD systems are deployed in over 60 nations across the globe, including United States and international naval forces, as well as other military organizations.
LRAD systems have proven highly effective in anti-terrorism/force protection missions at distances up to 3,500 meters. The systems function by broadcasting powerful deterrent tones and live or pre-recorded multi-language warning, commands and instructions with unprecedented clarity and range. LRAD systems function to create standoff zones, unequivocally determine intent, resolve uncertain situations peacefully, and save lives on both sides of the Long Range Acoustic Device through clear communication over large distances.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
