Company Fulfilling $3.2 Million in New and
Previously Announced International Naval Orders
Experiencing Strong Demand for Next Generation
Remotely-Operated, Long Range Communication System
SAN DIEGO, April 12, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help protect and keep people safe, today announced the first shipments of its LRAD 950NXT (950NXT), the Company's most advanced integrated communication, surveillance, security, and response system to date.
"The world is becoming more dangerous as geo-political turmoil, regional conflicts, and infrastructure disruptions are increasing in intensity and frequency," said Richard Danforth, Chief Executive Officer of Genasys Inc. "The 950NXT utilizes our proprietary technology to identify and interact with potential threats from a safe distance to provide defense forces and security personnel more time and information to accurately assess situations and appropriately scale responses.
"$1.8 million in previously announced LRAD 950RXL orders received from the French Navy instigated the development of our next generation 950NXT," continued Mr. Danforth. "In addition to the French Navy's order change to 950NXT systems, the Spanish Navy placed a $1.4 million 950NXT order last month."
Mr. Danforth added, "We're experiencing strong interest and order demand for our newest, most advanced LRAD system. Along with the naval forces orders from France and Spain, order commitments for super-yachts, and from critical infrastructure facilities, including ports, utilities, and dams have also been received."
The 950NXT is a major advance in Genasys' remotely-operated LRAD systems. Compared with previous LRAD-RX models, the electronics enclosure is now on top of the 950NXT to provide more accessory mounting capacity. In addition to the standard HD camera, optional accessories include high-intensity searchlight, laser range finder, laser dazzler, and infrared or night vision camera.
The 950NXT is operated using LRAD Controller software with heightened cybersecurity. The field upgradeable software has comprehensive functionality with easy-to-use controls that enable operators to identify possible threats on the live video feed, position the 950NXT’s IP-addressable full pan & tilt to target the threat, and then broadcast attention-commanding warning tones and voice messages with exceptional clarity from the safety of a command and control center. Integrations with third-party systems are also made easy with the 950NXT's API.
When integrated with radar or motion sensors, the 950NXT provides automated security alerts and becomes a fully functional, unmanned perimeter security and first response system that can alleviate the unnecessary use of force, resolve uncertain situations, and save lives.
About Genasys Inc.
Genasys® is a global provider of critical communications systems and solutions that help protect and keep people safe. The Company's unified critical communications platform includes Genasys Emergency Management (GEM) software-as-a-service, Integrated Mass Notification Systems (IMNS), Zonehaven™ emergency evacuation resources, National Emergency Warning Systems (NEWS), LRAD® long-range voice broadcast systems, 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, 2021. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
