SOURCE: Law Enforcement Associates

February 24, 2009 08:52 ET

Law Enforcement Associates Awarded $5.7 Million Follow-On Order by U.S. Census Bureau

Order Is Largest in Company History; Value Exceeds LEA's Total Revenue for First Six Months of 2008

RALEIGH, NC--(Marketwire - February 24, 2009) - Law Enforcement Associates Corporation (LEA) (OTCBB: LAWE), the largest U.S.-based developer and manufacturer of electronic surveillance equipment, today announced it has received a $5.7 million order from the U.S. Census Bureau. The order, the largest in Company history, represents a follow-on contract to the $1.4 million purchase made by the Census Bureau in September 2008. LEA did not identify the products associated with the order, but said they are expected to ship during the first two quarters of fiscal 2009 and will be used in conjunction with the 2010 U.S. Census.

"This record order illustrates the success we are having in sectors beyond our traditional end markets," said Paul Feldman, president of LEA. "Demand from our core law enforcement market is also building. Difficult macro-economic conditions often bring elevated crime rates. Fortunately, thousands of state and local police departments will soon begin to benefit from $4 billion in new funding being made available to law enforcement agencies through the recently passed American Recovery and Reinvestment Act. LEA, the dominant U.S. manufacturer of surveillance and security equipment, is well positioned to benefit as these agencies invest in new products and technologies."

"Our sales momentum continues to build and our growth prospects have never been stronger," Feldman added. "We are optimistic that our revenue growth in 2009 will meet or exceed the 35% top-line growth rate we expect to report for fiscal 2008. This order from the U.S. Census Bureau clearly gives us a strong start toward meeting that objective. It also will provide us with added cash on our balance sheet, which remains free of long-term debt."

LEA will discuss these and other recent developments during a fiscal 2008 year-end conference call to be held in March. Details for participating in the call will be provided in a subsequent news release.

About Law Enforcement Associates Corporation

LEA is a leading U.S.-based security and surveillance technology company that manufactures and markets a diverse product line to the worldwide law enforcement, military, security and corrections markets. The company's Audio Intelligence Devices division has been serving the law enforcement sector for more than 30 years and is one of the most respected names in the surveillance equipment industry. LEA's products are used by a wide variety of government and non-governmental agencies, as well as public and private companies. These include military bases, nuclear facilities, embassies, government installations, oil refineries, United Nations and NATO locations. The company enjoys close working relationships with other prominent players in the security and surveillance industry, including Smith & Wesson, one of the world's largest manufacturers of quality firearms and firearm safety/security products. LEA's products have been used at high-profile events such as the Summer & Winter Olympics, Super Bowl, U.S. Golf Championship, and the Democratic and Republican National Conventions. Its products include the Under Vehicle Inspection System (UVIS), Smith & Wesson-branded UVIS Swift, EDK123 (Explosive Detection Kit), Bloodhound and Birddog GPS Tracking Systems, Graffiti Cam, Letter-bomb Visualizer Spray, and a wide variety of Audio & Video Surveillance Equipment. Headquartered in Raleigh, N.C., the company has been featured in many industry publications and websites. For more information, please visit www.leacorp.com.

Forward-Looking Information:

The statements in this news release contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that use words such as "believe," "anticipate," "estimate," "intend," "could," "plan," "expect," "project," "predict," "forecast," "outlook," "potential," "continue," "may," "future," "can," "enhance," and "should," or the negative of these, as well as similar expressions, can be used to identify forward-looking statements. Such forward-looking statements involve certain risks, assumptions and uncertainties, including the inability to generate and secure the necessary product sales, or the lack of acceptance of the company's products by its customers. In each case actual results may differ materially from such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results (expressed or modified) will not be realized.

Contact Information

  • CONTACT:
    Pfeiffer High Investor Relations, Inc.
    Geoff High
    303-393-7044