CompuDyne Announces $9.2 Million of New Awards for October, 2006
November 28 2006 - 8:00AM
Business Wire
CompuDyne Corporation (NASDAQ:CDCY), an industry leader in
sophisticated security products, integration and technology for the
public security markets, announced that it had a total of $9.2
million in new awards during the month of October, 2006.
Institutional Security Systems reported awards of $4.3 million for
the month, including a $3.1 million award for an addition to the
Washoe County Detention Facility. Public Safety & Justice had
$3.4 million in selection awards and maintenance renewals. Major
projects included an $812 thousand award for a new regional
Computer Aided Dispatch system for St. Louis, Cook, Carlton, Lake,
and Koochiching counties in Northern Minnesota. The system will
network six separate emergency communications centers and,
operating on fully distributed Microsoft Windows workstations, will
provide server-independent processing of all critical CAD functions
and a reliable configuration approaching 100% system availability.
Also included is an $800 thousand award to provide a comprehensive
Fire Records Management System (�RMS�) to support the Southeast and
Southwest Regional Dispatch Centers for the U.S. Navy. This project
is part of the Navy Emergency Response Management System initiative
to provide the Navy with fully integrated public safety
technologies for the police, fire and emergency medical agencies at
Navy shore locations. Approximately thirty Naval bases will be
supported from the Jacksonville, FL and San Diego, CA operations
centers. We will be acting as a subcontractor to a prime contractor
on this project. Attack Protection had $1.8 million of new awards
during the month, however this was offset by the cancellation of an
earlier $1.3 million award, resulting in $0.5 million in net awards
for the month. Integrated Electronic Systems had $1.0 million in
awards. This included $0.6 million of awards for its Signami DCS
signals intelligence business unit. The expected projects
�pipelines� at all of our businesses remain quite active. Awards
for the third quarter exceeded awards for the entire first half of
2006. Certain statements made in this press release constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, including those
statements concerning the Company�s expectations with respect to
future operating results and other events. Although the Company
believes it has a reasonable basis for these forward-looking
statements, these statements involve risks and uncertainties that
cannot be predicted or quantified and consequently, actual results
may differ materially from those expressed or implied by such
forward-looking statements. Factors which could cause actual
results to differ from expectations include, among others, capital
spending patterns of the security market and the demand for the
Company�s products, competitive factors and pricing pressures,
changes in legislation, regulatory requirements, government budget
problems, the Company�s ability to secure new contracts, the
ability to remain in compliance with its bank covenants, delays in
government procurement processes, inability to obtain bid, payment
and performance bonds on various of the Company�s projects,
technological change or difficulties, the ability to refinance debt
when it becomes due, product development risks, commercialization
difficulties, adverse results in litigation, the level of product
returns, the amount of remedial work needed to be performed, costs
of compliance with Sarbanes-Oxley requirements and the impact of
the failure to comply with such requirements, risks associated with
internal control weaknesses identified in complying with Section
404 of Sarbanes-Oxley, the Company�s ability to realize anticipated
cost savings, the Company�s ability to simplify its structure and
modify its strategic objectives, and general economic conditions.
Risks inherent in the Company�s business and with respect to future
uncertainties are further described in its other filings with the
Securities Exchange Commission, such as the Company�s Form 10-K,
Form 10-Q, and Form 8-K reports. CompuDyne Corporation
(NASDAQ:CDCY), an industry leader in sophisticated security
products, integration and technology for the public security
markets, announced that it had a total of $9.2 million in new
awards during the month of October, 2006. Institutional Security
Systems reported awards of $4.3 million for the month, including a
$3.1 million award for an addition to the Washoe County Detention
Facility. Public Safety & Justice had $3.4 million in selection
awards and maintenance renewals. Major projects included an $812
thousand award for a new regional Computer Aided Dispatch system
for St. Louis, Cook, Carlton, Lake, and Koochiching counties in
Northern Minnesota. The system will network six separate emergency
communications centers and, operating on fully distributed
Microsoft Windows workstations, will provide server-independent
processing of all critical CAD functions and a reliable
configuration approaching 100% system availability. Also included
is an $800 thousand award to provide a comprehensive Fire Records
Management System ("RMS") to support the Southeast and Southwest
Regional Dispatch Centers for the U.S. Navy. This project is part
of the Navy Emergency Response Management System initiative to
provide the Navy with fully integrated public safety technologies
for the police, fire and emergency medical agencies at Navy shore
locations. Approximately thirty Naval bases will be supported from
the Jacksonville, FL and San Diego, CA operations centers. We will
be acting as a subcontractor to a prime contractor on this project.
Attack Protection had $1.8 million of new awards during the month,
however this was offset by the cancellation of an earlier $1.3
million award, resulting in $0.5 million in net awards for the
month. Integrated Electronic Systems had $1.0 million in awards.
This included $0.6 million of awards for its Signami DCS signals
intelligence business unit. The expected projects "pipelines" at
all of our businesses remain quite active. Awards for the third
quarter exceeded awards for the entire first half of 2006. Certain
statements made in this press release constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995, including those statements concerning the
Company's expectations with respect to future operating results and
other events. Although the Company believes it has a reasonable
basis for these forward-looking statements, these statements
involve risks and uncertainties that cannot be predicted or
quantified and consequently, actual results may differ materially
from those expressed or implied by such forward-looking statements.
Factors which could cause actual results to differ from
expectations include, among others, capital spending patterns of
the security market and the demand for the Company's products,
competitive factors and pricing pressures, changes in legislation,
regulatory requirements, government budget problems, the Company's
ability to secure new contracts, the ability to remain in
compliance with its bank covenants, delays in government
procurement processes, inability to obtain bid, payment and
performance bonds on various of the Company's projects,
technological change or difficulties, the ability to refinance debt
when it becomes due, product development risks, commercialization
difficulties, adverse results in litigation, the level of product
returns, the amount of remedial work needed to be performed, costs
of compliance with Sarbanes-Oxley requirements and the impact of
the failure to comply with such requirements, risks associated with
internal control weaknesses identified in complying with Section
404 of Sarbanes-Oxley, the Company's ability to realize anticipated
cost savings, the Company's ability to simplify its structure and
modify its strategic objectives, and general economic conditions.
Risks inherent in the Company's business and with respect to future
uncertainties are further described in its other filings with the
Securities Exchange Commission, such as the Company's Form 10-K,
Form 10-Q, and Form 8-K reports.
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