BUSINESS WIRE
International LRAD Orders Bolstering Company’s Record Business Pipeline
Genasys Announces $3.35M Renewal Agreement for Indian Navy LRAD Systems Maintenance
Investor Relations Contact
Brian Alger, CFA
SVP, IR and Corporate Development
ir@genasys.com
(858) 676-0582
Genasys Media Contact
Lauren Ames
Aircover Communications
lauren.ames@aircoverpr.com
Genasys Inc. (NASDAQ: GNSS), the global leader in Protective Communications, today announced a three-year, $3.35 million follow-on maintenance agreement for LRAD systems deployed by the Indian Navy. This is the third agreement under which the Indian Navy’s LRADs are serviced through Genasys at in-country maintenance centers.
“Since 2010, we have received $13.8 million in LRAD maintenance agreements for India’s Navy,” said Richard Danforth, Chief Executive Officer of Genasys. “International LRAD business continues to rebound as is evidenced with this agreement as well as the EU, Middle East, APAC, and West Africa orders announced earlier this calendar year. LRAD deployments are increasing around the world in defense, law enforcement, critical infrastructure protection, and maritime, border, and homeland security applications.”
Chris Roller, Genasys Vice President of APAC Business Development, said, “The Indian Navy and other APAC naval forces are using LRADs extensively in anti-piracy, maritime security, and economic zone enforcement operations. As regional tensions escalate over territorial waters, fishing stocks, and disputed shoals, LRADs are providing essential communication and warning capabilities for de-escalating potential conflicts and saving lives.”
LRAD by Genasys is the global leader and de facto standard of Acoustic Hailing Devices. Featuring Genasys’ Advanced Driver and Waveguide technology, LRAD systems broadcast audible voice messages with incomparable clarity over long distances and above loud background noise. From combat and counterinsurgency to disaster response and humanitarian assistance, LRAD systems provide defense forces with the clear communication and escalation of force capabilities critical for mission success.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications. Incorporating the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as the Company’s Long Range Acoustic Devices (LRAD®), the Genasys Protect platform is designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” Protecting people and saving lives for over 40 years, Genasys covers more than 70 million people in over 100 countries worldwide, including more than 550 U.S. cities. 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 the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. 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. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in any forward-looking statement. The risks and uncertainties in these forward-looking statements include without limitation the business impact of geopolitical conflicts, epidemics or pandemics, and other causes that 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, 2023. Genasys Inc. disclaims any intent or obligation to publicly update or revise forward-looking statements, except as otherwise specifically stated.
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