Contact Information: CONTACT: Pfeiffer High Investor Relations, Inc. Geoff High 303-393-7044
Law Enforcement Associates Appoints Moore Stephens Frost as New Independent Public Accounting Firm
| Source: Law Enforcement Associates
RALEIGH, NC--(Marketwire - June 2, 2008) - Law Enforcement Associates Corporation (LEA)
(AMEX : AID ), the largest U.S. developer and manufacturer of undercover
surveillance equipment, today announced it has appointed Moore Stephens
Frost (MSF) to succeed Baum & Company as its independent public accounting
firm, effective May 27, 2008. LEA made the change to address its desire
for an accounting partner with a local presence. MSF maintains offices in
Raleigh Durham, while Baum served LEA through its offices in Miami.
LEA said Baum's reports on the Company's financial statements during the
past two years did not contain any adverse opinions or disclaimers of
opinions and were not modified as to uncertainty, audit scope or accounting
principles.
Paul Feldman, president of LEA, said, "Our access to a respected,
independent accounting firm with a strong presence in Raleigh Durham will
be very helpful as we work to streamline our audit processes. We
appreciate the past efforts Baum has put forth on our behalf."
Feldman added, "We continue to make progress in our efforts to strengthen
operations and enhance our financial performance. During the first half of
the year, we have moved our corporate headquarters to more efficient and
cost-effective facilities, improved the strength of our financial team,
commenced sales of two major new product offerings and secured a large
contract for our Smith & Wesson-branded under-vehicle inspection system.
We remain very optimistic about our business prospects during the remainder
of the year and beyond."
About Law Enforcement Associates Corporation
LEA is a leading 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 (AID) 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, such as Smith
& Wesson (NASDAQ : SWHC ), one of the world's largest manufacturers of
quality firearms and firearm safety/security products; and FLIR Systems,
Inc., a world leader in the design, manufacture and marketing of thermal
imaging and stabilized camera systems. 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.