Boston, MA 08/20/2014 (wallstreetpr) –The U.S. based sound and technology company, LRAD Corp (NASDAQ:LRAD) on August 19, 2014 stated publicly that it has received an order of total $1.7 million from the two Asian customers.
LRAD® 500 and 1000X systems and accessories:
LRAD Corp (NASDAQ:LRAD) acknowledged that two separate customers from Asia have ordered for LRAD® 500 and 1000X systems and accessories. The first order of $1.0 million signifies fourth order from the Asian customers and second in the fiscal year. The order has been placed for installing the LRAD® 500 and 1000X systems and accessories on the vehicle used by military and police. Furthermore, the second one of almost $700,000 has been ordered from Southeast Asian Navy. However, both the orders are to be delivered by December 31, 2014. The orders from the Asian countries signify public safety measures taken by those countries.
CEO of LRAD says:
LRAD Corp (NASDAQ:LRAD), located at San Diego, the U.S. has a diversified customer base that is not only confined within the nation. In the international market, it has gained an enormous demand and reputation. In the fiscal 3Q report, the President and CEO of LRAD, Tom Brown, mentioned that 82% of year-to-date revenues accumulated were from foreign territories. The orders from the global market represent that the quality and effectiveness of the company’s products.
Demand in international markets:
Couple of weeks back, LRAD posted revenue of $8.0 million in fiscal 3Q, which was driven by strong demand in the international markets. Especially, the order of $4.0 million from Middle East was the most significant one. In fact, LRAD Corp (NASDAQ:LRAD) also received an order last month from the U.S. Army for various operations in Afghanistan. Navy, Army as well as police of various organizations across the world is using Long Range Acoustic Devices® in order to provide layered defense strategy both for land and marine forces. The company’s product is sure to assist the forces to save the lives.
