Order Increases Value of Existing Contract by 25% to $2.9 Million
YOUNGSVILLE, N.C., Sept. 5 /PRNewswire-FirstCall/ -- Law Enforcement Associates Corporation (LEA) (AMEX:AID), a leading provider of surveillance and security products to the global law enforcement, military, security and corrections markets, today announced it has received a $638,000 order for its wireless video kits. The order represents a 25% increase in the value of an existing contract with an agency of the U.S. Government.
The order, which is expected to ship in next year's first quarter, brings the total value of the contract to $2.9 million. In July, the same agency placed a $532,000 order for similar kits, and announced it had extended its contract with LEA through May of 2007. The agency originated the contracted in May 2005 and has executed the first of two possible extensions to the term of the agreement.
Paul Feldman, LEA's president, said, "We have taken more than $1 million in orders during the past two months from this single agency. Our wireless video kits are clearly addressing important surveillance issues for this customer, and the level of follow-on business we are receiving is very encouraging." Terms of the contract do not allow LEA to identify its customer or the anticipated use of its products.
Feldman added, "We are working aggressively to market these and other devices in our product portfolio, and will be attending a major industry trade show later in the month as part of our effort to build broader exposure for our surveillance and security solutions." About Law Enforcement Associates, Inc. (LEA) 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. LEA's products also 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), EDK123 (Explosive Detection Kit), Bloodhound GPS Tracking System, 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 http://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. 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
DATASOURCE: Law Enforcement Associates Corporation CONTACT: Geoff High, of Pfeiffer High Investor Relations, Inc., +1-303-393-7044 Web site: http://www.leacorp.com/
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