Law Enforcement Associates Appoints Moore Stephens Frost as New Independent Public Accounting Firm
June 02 2008 - 8:00AM
Marketwired
RALEIGH, NC (AMEX: AID), the largest U.S. developer and
manufacturer of undercover surveillance equipment, today announced
it has appointed Moore Stephens Frost (MSF) to succeed Baum &
Company as its independent public accounting firm, effective May
27, 2008. LEA made the change to address its desire for an
accounting partner with a local presence. MSF maintains offices in
Raleigh Durham, while Baum served LEA through its offices in
Miami.
LEA said Baum's reports on the Company's financial statements
during the past two years did not contain any adverse opinions or
disclaimers of opinions and were not modified as to uncertainty,
audit scope or accounting principles.
Paul Feldman, president of LEA, said, "Our access to a
respected, independent accounting firm with a strong presence in
Raleigh Durham will be very helpful as we work to streamline our
audit processes. We appreciate the past efforts Baum has put forth
on our behalf."
Feldman added, "We continue to make progress in our efforts to
strengthen operations and enhance our financial performance. During
the first half of the year, we have moved our corporate
headquarters to more efficient and cost-effective facilities,
improved the strength of our financial team, commenced sales of two
major new product offerings and secured a large contract for our
Smith & Wesson-branded under-vehicle inspection system. We
remain very optimistic about our business prospects during the
remainder of the year and beyond."
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 Raleigh, 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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