SOURCE: LRAD Corporation

LRAD Corporation

July 11, 2011 08:30 ET

LRAD Corporation to Report $2.3 Million in Fiscal Q3 2011 Revenues and Record Revenues of $20.0 Million for First Nine Months of FY 2011

Company Positioned for Strong FY 2011 Finish

SAN DIEGO, CA--(Marketwire - Jul 11, 2011) - LRAD Corporation (NASDAQ: LRAD), the world's leading provider of acoustic hailing devices (AHDs), announced today that it expects to report fiscal Q3 2011 revenues of $2.3 million and record revenues of $20.0 million for the first nine months of the Company's fiscal year 2011. Due to its first time filing under the Securities & Exchange Commission's new XBRL requirements, the Company plans to release fiscal Q3 2011 financial results the week of August 8, 2011.

"In spite of ongoing U.S. government budget uncertainty and unsettled global economic conditions, we've reached $20 million in revenues for the first time in the Company's history," remarked Tom Brown, president and CEO of LRAD Corporation. "We are starting to see domestic military business pick up and we're receiving international orders from the multiple markets we've created for our proprietary LRAD® long range communication systems."

"We continue to keep tight control of operating expenses while investing prudently in new LRAD business opportunities," Brown concluded. "We anticipate a strong finish for FY 2011 resulting in record fiscal year profits and our fifth consecutive fiscal year of double digit LRAD sales growth."

About LRAD Corporation
LRAD Corporation's Long Range Acoustic Device® (LRAD®) directional communication systems are being used around the world in diverse applications including fixed and mobile military deployments, maritime security, critical infrastructure and perimeter security, commercial security, border and port security, law enforcement and emergency responder communications, and wildlife preservation and control. For more information about the Company and its LRAD systems, please visit www.lradx.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 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, 2010. LRAD Corporation disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.