Genasys Inc. Announces Record Fiscal Year Domestic Law Enforcement Sales

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) reported a record $1.3 million in U.S. law enforcement sales for the fiscal year 2020, marking a 30% increase from 2019. This achievement signifies the company’s second consecutive year of growth in this segment. CEO Richard S. Danforth emphasized the versatility of the LRAD system in enhancing public safety and communication during critical situations. The LRAD systems are in use across over 450 U.S. cities, facilitating crowd communications and emergency notifications, among other applications, and offering superior voice clarity and range compared to traditional systems.

Positive

• Record U.S. law enforcement sales of $1.3 million for FY 2020, up 30% from FY 2019.
• Second consecutive year of record domestic law enforcement sales.
• Wide adoption of LRAD systems across over 450 U.S. cities for various public safety applications.

Negative

• None.

SAN DIEGO, Oct. 13, 2020 (GLOBE NEWSWIRE) -- October 13, 2020 – Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced record fiscal year U.S. law enforcement sales of $1.3 million, up 30% over fiscal year 2019. This is the Company's second consecutive fiscal year of record domestic law enforcement sales.

“More and more agencies are realizing LRAD's versatility for multiple public safety applications,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “By clearly communicating alerts, warnings and instructions, LRAD is helping resolve uncertain situations and enhancing safety for both the public and law enforcement.”

LRAD's unmatched ability to deliver critical communications from greater standoff distances helps promote safer interactions between law enforcement and the public. Agencies and departments in more than 450 U.S. cities use LRAD systems for several essential communication, public safety and peacekeeping applications, including:

• Crowd Communications
• SWAT Operations
• Barricaded Subjects and Hostage Negotiations
• Serving High Risk Warrants
• Active Shooter Situations
• Unlawful Assembly Declarations
• Emergency Warnings
• Shelter-in-Place/Safe-to-Return Notifications
• Search & Rescue Operations
• Vehicle, Helicopter and Boat Mounted Communications

“LRAD's industry-leading voice intelligibility, range and reliability are vastly superior to the limited broadcast distance and poor vocal quality of bullhorns and vehicle PA systems,” continued Mr. Danforth. “LRAD is Law Enforcement’s communication system of choice for performing everyday duties, resolving crisis situations and saving lives.”

Genasys’ LRAD systems add new dimensions to public safety notification systems that include industry-leading voice clarity and intelligibility, 30° – 360° area coverage from near range to 2,000 meters, and the ability to communicate effectively into vehicles and buildings.

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 around the world 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 without limitation the business impact of health crises or outbreaks of disease, such as epidemics or 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.

FAQ

What were Genasys' earnings for the fiscal year 2020?

Genasys reported a record $1.3 million in U.S. law enforcement sales for fiscal year 2020, a 30% increase over the previous year.

How has Genasys performed in law enforcement sales historically?

Genasys has recorded growth in law enforcement sales for two consecutive fiscal years.

What is the significance of the LRAD system for law enforcement?

The LRAD system enhances communication for law enforcement, aiding in situations like crowd control, emergency warnings, and active shooter incidents.

In how many cities are Genasys LRAD systems currently in use?

Genasys LRAD systems are used in over 450 cities across the United States.