RALEIGH, NC -- (Marketwire) -- 06/22/10 -- Law Enforcement Associates Corporation (LEA) (OTCBB: LAWE), a leading U.S.-based developer and manufacturer of electronic surveillance equipment, held its annual shareholder meeting on June 16, 2010 and provided an update on its year-to-date performance.
The Company had three proposals for shareholders to vote upon and there was a quorum present at the meeting. A representative from Raymond James Capital, Inc., the majority owner of Sirchie Acquisition Company, LLC (Sirchie) was present representing Sirchie. The three proposals were (1) Election of Directors (2) Approval of a stock option plan and (3) Ratification of an Independent Registered Public Accounting Firm. All three proposals were adopted from the shareholder votes.
Paul Briggs, president and CEO, gave the President's report during the meeting and highlighted the Company's recent activities. Early in the second quarter of 2010, the Company's Portable Remote Viewing Systems (PReViewS by aidVISION) became available. The PReViewS is a small, low power unit allowing law enforcement personnel to consistently view high quality, low latency, real-time video, regardless of bandwidth available. The system can be controlled using a PC or Windows mobile compatible smartphone. "We are very excited about the PReViewS because this proprietary innovative technology will allow for multiple users to remotely view and control video utilizing narrow bandwidth along with military grade operational security features," said Dan Heinz, LEA's Director of Training and Sales.
Briggs also covered the Company's recent sales successes in the southwestern part of the United States. "We've been very successful in Texas and New Mexico in the second quarter. One police department on the United States and Mexican border has recently purchased approximately $200,000 in audio and video surveillance equipment. A police department in New Mexico has recently purchased one of our very popular Scorpion micro DV for every one of their officers, approximately 650 men and women." LEA has recently begun a targeted sales and marketing effort emphasizing the benefits of law enforcement personnel keeping a small digital video recorder with them while on duty.
Briggs said that Heinz has brought a lot of new and exciting ideas to LEA in order to help market the Company to law enforcement personnel. "We have recently begun sending out targeted flyers and promotional materials to law enforcement agencies across the United States and have seen sales increases as a result." Briggs concluded his President's report stating that LEA has seen revenue growth in the second quarter and is confident that LEA will continue to see revenue growth in the remainder of 2010.
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. 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), 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.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Among other things, these statements relate to our financial condition, results of operations and future business plans, operations, opportunities and prospects. In addition, we and our representatives may from time to time make written or oral forward-looking statements, including statements contained in filings with the Securities and Exchange Commission and in our reports to stockholders. These forward-looking statements are generally identified by the words or phrases "may," "could," "should," "expect," "anticipate," "plan," "believe," "seek," "estimate," "predict," "project" or words of similar import. These forward-looking statements are based upon our current knowledge and assumptions about future events and involve risks and uncertainties that could cause our actual results, performance or achievements to be materially different from any anticipated results, prospects, performance or achievements expressed or implied by such forward-looking statements. These forward-looking statements are not guarantees of future performance. Many factors are beyond our ability to control or predict. You are accordingly cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date that we make them. For a description of factors that may cause actual results to differ materially from such forward-looking statements, see the Company's Annual Report on Form 10-K for the year ended 2009, and other reports from time to time filed with or furnished to the Securities and Exchange Commission. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.