SAN DIEGO, Dec. 05, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in protective communications solutions, today announced a new foreign military sales (FMS) contract award for a Middle Eastern defense force. The multi-phase program, worth more than two million USD, will deploy Genasys’ long-range acoustic hailing devices (LRADs) on multiple ships and shore installations across the country’s Navy.
“The recent escalation in tensions across the region, combined with a worsening coastal security situation and unstable borders are creating strong demand for LRAD. The ability to establish the intent of vessels in coastal waters, de-escalate potentially dangerous situations and avoid the use of force, is a critical element of maritime operations.” said Peter Ayre, VP of Europe, Middle East & Africa for Genasys.
Remotely controlled 950NXT for large vessels and various manually operated AHDs such as the 1000Xi and 450XL will provide long range, clear voice communications at thousands of meters out. “Our long-standing association with the U.S. military and our leadership in the acoustic hailing market, means Genasys is ideally placed to continue supporting international defense forces worldwide, and we continue to see an increase in demand from the international market”, said Richard S. Danforth, Chief Executive Officer of Genasys.
Genasys’ superior technology and leadership in the maritime sector has led 26 international Navies and Coast Guards to install LRADs on their ships and patrol boats. This most recent LRAD order further demonstrates the world’s militaries’ commitment to Genasys’ technologies.
About Genasys Inc.
Genasys Inc. (NASDAQ: GNSS) is the global leader in Protective Communications Solutions and Systems, designed around one premise: ensuring organizations and public safety agencies are “Ready when it matters™.” The company provides the Genasys Protect platform, the most comprehensive portfolio of preparedness, response, and analytics software and systems, as well as Genasys Long Range Acoustic Devices (LRAD®) that deliver directed, audible voice messages with intelligible vocal clarity from close range to 5,500 meters. Genasys serves state and local governmental agencies, and education (SLED); enterprise organizations in critical sectors such as oil and gas, utilities, manufacturing, and automotive; and federal governments and the military. Genasys Protective Communications Solutions have diverse applications, including emergency warning and mass notification for public safety, critical event management for enterprise companies, de-escalation for defense and law enforcement, and automated detection of real-time threats like active shooters and severe weather. Today Genasys protects over 70 million people globally and is used in more than 100 countries, including more than 500 cities, counties, and states in the U.S. 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. 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 epidemics or pandemics, geopolitical conflict, and other events 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, 2022. Genasys Inc. disclaims any intent or obligation to update those forward-looking statements, except as otherwise specifically stated.
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