Genasys™ Inc. Receives $1.9 Million Follow-on Order from U.S. Army

Rhea-AI Summary

Genasys Inc. (NASDAQ: GNSS) announced a $1.9 million follow-on order from the U.S. Army for the LRAD® 450XL acoustic hailing devices. This marks the second order in the fiscal year and the fourth under the Army's AHD program since early 2019. The 450XL features patented technology that allows it to produce audio output comparable to larger units, making it ideal for various defense and law enforcement applications. Genasys systems are actively utilized in 72 countries for critical communications solutions.

Positive

• Secured $1.9 million follow-on order from the U.S. Army.
• Second order of the 450XL in the current fiscal year.
• Demonstrates continued demand for LRAD's critical communications technology.

Negative

• None.

SAN DIEGO, June 09, 2020 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced a $1.9 million follow-on order from the U.S. Army (“Army”) for LRAD^® 450XL (“450XL”) acoustic hailing devices (“AHDs”).

“This is the Company’s second 450XL order this fiscal year and the fourth order received under the AHD program since the Army selected the 450XL in early 2019,” said Richard Danforth, Chief Executive Officer of Genasys Inc. “U.S. and international defense forces continue to equip their Soldiers with LRAD’s unparalleled critical communications and scalable escalation of force capabilities.”

The 450XL incorporates Genasys’ patented technology to generate the audio output of a unit almost twice its size and weight. Low profile, lightweight and designed for temporary or fixed mounting on tripods, vehicles, small vessels, and Common Remotely Operated Weapon Stations (CROWS), the 450XL is the AHD of choice for U.S. and international defense, homeland security and law enforcement agencies.

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 is the recent announcement by Genasys Inc. regarding the U.S. Army?

Genasys Inc. announced a $1.9 million follow-on order from the U.S. Army for the LRAD® 450XL acoustic hailing devices.

How many orders has Genasys received for the 450XL from the U.S. Army?

Genasys has received four orders for the 450XL from the U.S. Army since early 2019.

What applications are Genasys systems used for?

Genasys systems are used for public safety, national emergency warnings, mass notification, defense, and law enforcement.

What is the significance of the LRAD® 450XL for Genasys?

The LRAD® 450XL is significant for Genasys as it showcases their advanced technology and ability to fulfill military contracts.