LRAD Corporation Awarded US Navy Contract

LRAD Corporation announced today it has been awarded a multi-year $12.2 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract for acoustic hailing devices (AHD) by the United States Navy.

LRAD Corporation Awarded $12.2 Million LRAD(R) Systems Contract from United States Navy

New Multi-Year Contract Continues LRAD’s Support of United States Navy Anti-Terrorism/Force Protection Missions

SAN DIEGO, Calif., June 11, 2013 (GLOBE NEWSWIRE) — LRAD Corporation (Nasdaq:LRAD), the world’s leading provider of long range acoustic hailing devices (AHDs), announced today it has been awarded a multi-year $12.2 million firm-fixed-price, indefinite-delivery/indefinite-quantity contract for small, medium and large LRAD AHDs from the United States Navy’s Naval Surface Warfare Center located in Crane, Indiana. The contract was competitively bid with LRAD Corporation being awarded the contract over two other companies. 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 Company’s proprietary LRAD systems were developed in response to the deadly attack on the USS Cole over twelve years ago. Today, LRAD systems are deployed in more than 60 nations around the world including by U.S. and international naval forces and other military organizations.

At distances up to 3,500 meters, LRAD systems have proven highly effective in anti-terrorism/force protection missions by broadcasting powerful deterrent tones and live or pre-recorded multi-language warnings, commands and instructions with unprecedented clarity and range. By communicating clearly over distance, LRAD systems create large standoff zones, unequivocally determine intent, resolve uncertain situations peacefully and save lives on both sides of the Long Range Acoustic DeviceĀ®.”

Source: LRAD Corporation

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