Genasys Inc. Receives $1.8 Million LRAD® Systems Order in Asia Pacific Region

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) has secured a $1.8 million order for long-range communication systems from a Southeast Asian country, targeting border security and public safety. The systems will be deployed by homeland security agencies. CEO Richard S. Danforth highlights the strong demand for these systems amid global security threats and notes the company's established presence in the Asia Pacific region. The LRAD systems are designed to enhance clarity in communications during emergencies, aiding law enforcement and public safety efforts.

Positive

• Secured a $1.8 million order for long-range communication systems from a Southeast Asian country.
• The order stems from the new regional sales office opened in Singapore, indicating growth potential.
• Strong demand for critical communications systems driven by escalating homeland security threats.

Negative

• Challenges from government funding and COVID-19 may affect sales and operations.

SAN DIEGO, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced a $1.8 million long-range communication systems order from a country in Southeast Asia. The LRAD systems are scheduled to be deployed by homeland security agencies for border security, law enforcement and public safety applications.

"This order was cultivated and facilitated by the regional sales office we opened in Singapore earlier this year," said Richard S. Danforth, Chief Executive Officer of Genasys Inc. "Escalating homeland security and public safety threats throughout the world are driving strong demand for critical communications systems and solutions. In spite of government funding and COVID challenges in the Asia Pacific, we are established and well-positioned in the region to drive stronger hardware and software sales in fiscal 2022."

LRAD is fundamentally changing the way homeland security and public safety agencies conduct everyday duties and elevated risk operations. LRAD systems ensure warnings, commands and notifications are clearly heard and understood above background noise and inside vehicles and buildings. Rugged, portable and easy to operate, LRAD systems help safeguard the public, protect officers, resolve uncertain situations, and save lives.

About Genasys Inc.

Genasys^™ is a global provider of critical communications systems and solutions that help keep people safe. Genasys provides a multichannel approach to deliver geo-targeted alerts, notifications, instructions and information before, during and after public safety threats and critical business events. The Company's unified critical communications platform includes Genasys Emergency Management (GEM) applications, National Emergency Warning Systems (NEWS), Integrated Mass Notification Systems (IMNS), LRAD^® long-range voice broadcast systems, Zonehaven™ public safety resources, and more.

Genasys systems are in service in more than 100 countries in a range of diverse applications, including public safety, emergency warning, mass notification, critical event management, defense, law enforcement, homeland security, and other applications. 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 how they may affect our supply chain, 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, 2020. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.

FAQ

What is the significance of the recent $1.8 million order for Genasys (GNSS)?

The $1.8 million order secures long-range communication systems intended for border security and law enforcement in Southeast Asia, indicating strong demand in critical communications.

How will the new order impact Genasys's financial outlook?

The order is expected to bolster Genasys's sales in fiscal 2022, reflecting a positive financial impact despite ongoing challenges.

What do the LRAD systems do for public safety agencies?

LRAD systems enhance clarity in communication for public safety operations, helping ensure warnings and commands are understood under various conditions.

When was the regional sales office in Singapore opened by Genasys?

The regional sales office in Singapore was opened earlier in 2021, contributing to the cultivation of this new order.