CORRECTING and REPLACING Riverside County Contracts with Tiburon for a $1.8 Million Upgrade to its Records Management System
March 20 2007 - 9:25AM
Business Wire
Headline of release should read: Riverside County Contracts with
Tiburon for a $1.8 Million Upgrade to its Records Management
System�(sted Riverside County Contracts with Tiburon for an Upgrade
to its $1.8 Million Records Management System). The corrected
release reads: RIVERSIDE COUNTY CONTRACTS WITH TIBURON FOR A $1.8
MILLION UPGRADE TO ITS RECORDS MANAGEMENT SYSTEM CompuDyne
Corporation (NASDAQ:CDCY), an industry leader in sophisticated
security products, integration, and technology for the public
security markets, announced today that the county of Riverside,
California signed a $1.8 million contract with CompuDyne�s public
safety and justice unit, Tiburon, Inc. of Pleasanton, CA, to
provide a comprehensive upgrade to the Sheriff�s Department Records
Management System (RMS). Tiburon is an industry-leading provider of
automated public safety and justice systems to meet the demanding
and complex needs of law enforcement, fire and rescue, corrections,
and justice environments. The Riverside County Sheriff�s
Department, a client since 1996, contracted with Tiburon to provide
an upgrade to their existing Tiburon RMS. The County wanted to take
advantage of the new hardware technology and enhanced software
functionality provided by this comprehensive upgrade. The Sheriff�s
Department operates 11 main stations and other store front
facilities that serve the unincorporated areas of the county and 13
contract cities. The new RMS will consolidate and automate records
processing and criminal investigations for the county. Law
enforcement personnel will be able to use this database to store
information related to arrests, citations, contacts, incidents,
pawned property and more. Additionally, with an interface to the
county jail system, booking information will be automatically
transferred to the new RMS providing timely, and more accurate,
information to county law enforcement personnel. The new system
will also include automated report writing capability for officers
in the field. Officers will be able to enter data directly into
selected electronic forms that replicate the County�s existing
forms, which minimizes training time and increases the speed and
accuracy of incident reporting. Work has begun on this important
project for the county. 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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