SAN DIEGO, May 19, 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 foreign military sales (FMS) and international defense orders totaling $1.5 million.
Managed by the Department of State and executed by the Department of Defense, the FMS program sells defense products and services to foreign countries and international organizations that strengthen the security of the U.S. and promote world peace.
"These orders are scheduled for deployment by international armies and navies in Europe, the Middle East, and South America," said Richard S. Danforth, Chief Executive Officer of Genasys Inc. "Our long-standing association with the U.S. military and ongoing LRAD shipments to multiple branches of the armed forces are facilitating larger FMS order opportunities.
"Escalating regional tension, border incursions, and armed conflict are creating strong demand for LRAD's essential long-range communication and scalable escalation of force capabilities," Mr. Danforth continued. "Additional domestic, FMS and international defense orders are expected this fiscal year."
From combat and counterinsurgency to disaster response and humanitarian assistance, today's military forces are required to support the full spectrum of missions. LRAD systems broadcast attention-commanding alert tones and audible voice messages with exceptional clarity and intelligibility to communicate, prevent misunderstandings, resolve uncertain situations, alleviate the use of force, prevent casualties, and save lives.
About Genasys Inc.
Genasys® is a global provider of critical communications systems and solutions that help protect and keep people safe. Genasys provides a multichannel approach to deliver geo-targeted alerts, notifications, instructions, and information before, during, and after public safety and enterprise threats. The Company’s unified software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven™ emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), LRAD® long-range communication 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.
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.
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