New Orders for Wireless Video Kits Bring Total Value of Contract to $2.3 Million
YOUNGSVILLE, N.C., July 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 that an agency of the United States Government has exercised an option to extend a prior contract with LEA, and has concurrently placed two new orders for LEA Wireless Video Kits. LEA expects to fulfill the two orders, collectively valued at $532,000, during this year's third quarter.
The unnamed agency signed its original contract with LEA in May 2005, and the extension, which lengthens the contract to May 27, 2007, is the first of two possible term extensions addressed in the agreement. To date, LEA has received orders for a total of $2.3 million in Wireless Video Kits under the contract.
Paul Feldman, LEA's president, said, "This follow-on order is an indication of the strong working relationship we have with this agency, as well as the strength of our security and surveillance product offerings. We are working hard to expand our presence with governmental and law-enforcement agencies in both domestic and international markets, and are encouraged by the opportunities we are pursuing." Feldman said terms of the contract do not allow LEA to identify its customer or the anticipated use of its products.
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. DATASOURCE: Law Enforcement Associates Corporation CONTACT: Geoff High, Pfeiffer High Investor Relations, Inc., +1-303-393- 7044 Web site: http://www.leacorp.com/
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