American Technology to Report Second Consecutive Year of Record Fiscal Revenues
October 08 2009 - 7:00AM
Marketwired
American Technology Corporation (ATC) (NASDAQ: ATCO), the innovator
and distributor of the Long Range Acoustic Device(TM) (LRAD®)
product line, announced today that it will report its second
consecutive year of record fiscal revenues. ATC expects to report
record revenues of over $15.5 million for the fiscal year ended
September 30, 2009, an increase of approximately 39% over fiscal
2008.
"We're pleased with the progress we've made in revenue growth
and in increasing our LRAD business and cash position," commented
Tom Brown, president and CEO of American Technology. "In addition
to our record results, we received significant LRAD orders near the
end of fiscal Q4 that will ship this month, giving us a strong
start to fiscal 2010."
"In fiscal 2009, we made substantial progress in expanding
applications and developing new markets for our industry leading
LRAD product line," Brown continued. "We added the LRAD 100X(TM)
and LRAD 300X(TM) and expanded our market penetration and business
opportunities beyond military, maritime security and force
protection into law enforcement, emergency responder
communications, and wildlife preservation and control."
"In fiscal 2010, our focus is to build upon growing LRAD market
acceptance by increasing domestic and international deliveries,
resulting in an expected third consecutive year of record revenues
and improved financial results," concluded Brown. "In addition to
the recently received LRAD orders, this quarter (Q1 2010) we
anticipate announcing further LRAD orders, launching our new
website, and completing and releasing the audited fiscal 2009
financial results."
About American Technology Corporation
American Technology Corporation is providing directed audio
solutions that place clear, highly intelligible sound exactly where
needed. ATC's Long Range Acoustic Device(TM) (LRAD®) and other
directed sound technologies comprise the core of an expanding
portfolio of products being used around the world in diverse
applications including, global military deployments, maritime
security, critical infrastructure and commercial security, border
and port security, law enforcement and emergency responder
communications, and wildlife preservation and control. For more
information about ATC and its directed sound products, please visit
the company's web site at www.atcsd.com.
Safe Harbor statement under the Private Securities Litigation
Reform Act of 1995: Except for historical information contained
herein, the matters discussed are forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act. 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, including
but not limited to, the performance of our management team, market
acceptance of our directed sound technologies and products, entry
of competitors, the possibility our intellectual property
protections will not prevent others from marketing products similar
to or competitive with our products, potential technical or
manufacturing difficulties that could delay product deliveries or
increase warranty costs, and other risks 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, 2008. American Technology
Corporation disclaims any intent or obligation to update those
forward-looking statements, except as otherwise specifically
stated.
FOR FURTHER INFORMATION CONTACT: Robert Putnam Investor
Relations (858) 676-0519 Email Contact
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