American Technology to Report Second Consecutive Year of Record Fiscal Revenues
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SAN DIEGO, CA, Oct 08 (MARKET WIRE) --
American Technology Corporation (ATC) (NASDAQ: ATCO), the innovator and
distributor of the Long Range Acoustic Device(TM) (LRAD(R)) 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(R)) 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
Copyright 2009, Market Wire, All rights reserved.
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