Law Enforcement Associates Awarded $655,000 Order for Wireless Video Kits From U.S. Government Agency
Market Wire, January, 2008
Law Enforcement Associates Corporation (LEA) (AMEX: AID), the largest U.S. developer and manufacturer of undercover surveillance equipment, today announced it has received a $655,000 order for 30 of the company's Wireless Video Kits. The order was placed by an unnamed agency of the U.S. Government, which has purchased several dozen of the advanced surveillance systems following an initial order in May 2005. Total value of the kits purchased to date by the agency is approximately $3.5 million. LEA expects to recognize the full value of the latest contract during the current quarter ending March 31, 2008.
Paul Feldman, president of LEA, said the order was originally anticipated during the second half of fiscal 2007, but changes in the customer's procurement procedures delayed the contract. "We are encouraged this order is finally in place, and are optimistic it will serve as the cornerstone for a year of improved financial performance and overall growth at LEA."
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 Youngsville, 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.
CONTACT: Pfeiffer High Investor Relations, Inc. Geoff High 303-393-7044
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