Genasys Inc. Receives Follow-On $1.8 Million LRAD® Systems Order Under U.S. Navy IDIQ Contract

October 12, 2021 8:30 AM EDT

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SAN DIEGO, Oct. 12, 2021 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions, today announced a $1.8 million LRAD systems order from the U.S. Navy (Navy) under a three-year indefinite delivery/indefinite quantity (IDIQ) contract announced in June 2020. The Navy is replacing its first generation LRADs with next generation LRAD 1000Xi systems.

“The Navy's ongoing replacement of first generation LRAD systems, many of which have been in service in extreme maritime conditions for more than a decade, attests to the rugged reliability of our long-range communication systems,” said Richard S. Danforth, Chief Executive Officer of Genasys Inc. “In addition to the Navy, 27 international naval forces also use LRAD systems for ship self-defense, establishment of vessel exclusion zones and restricted areas, port and harbor security, search and rescue operations, and boarding and interdiction missions.”

The LRAD 1000Xi is a power efficient, long-range communication system designed for critical infrastructure protection, territorial water, border and port security, and large vessel and vehicle installations. Featuring rugged military construction and a carbon fiber emitter head with integrated electronics and amplification, the LRAD 1000Xi delivers audible hails, warnings, notifications and commands from close range out to 3,000 meters.

About Genasys Inc.

Genasys™ is a global provider of critical communications systems and solutions that help keep people safe. Genasys provides a multi-channel 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.

Investor Relations Contact

Kimberly Rogers
Hayden IR
ir@genasys.com

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Source: Genasys Inc.


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