CompuDyne Announces $25.4 Million Award
12 Diciembre 2006 - 8:26AM
Business Wire
CompuDyne Corporation (NASDAQ:CDCY), an industry leader in
sophisticated security products, integration, and technology for
the public security markets, announced today that its Integrated
Electronics Division, dba Quanta Systems Corporation (�Quanta�),
has been awarded a $25.4 million contract to provide security
services to the Bureau of Engraving & Printing (�BEP�). BEP is
the division of the Department of the Treasury that designs,
engraves, and prints U.S. currency, some postage stamps, and other
U.S. security documents. Although Quanta is about to enter the
second year of this contract, BEP did not announce the award until
last week because of a lengthy confirmation process. Under this
contract, Quanta provides 24/7 supervisory, operating, and
monitoring staff to accomplish security systems installations,
operation, maintenance, and monitoring requirements at BEP�s
Washington Currency Production Facility. The contract covers a base
period of twelve months with four twelve-month options, for a total
contract performance period of 60 months. Depending on how BEP
exercises certain contract line items, there is between $18 million
and $20 million in contract value remaining. 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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