CompuDyne Announces $12.9 Million of New Awards for June, 2007
23 Julio 2007 - 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 $12.9
million in new awards during the month of June, 2007. Institutional
Security Systems (�ISS�) reported $6.7 million of awards for the
month including two new correctional facility projects. Activity
related to prospective projects is at high levels in ISS� market
and awards during 2007 are expected to materially exceed those in
2006. Public Safety & Justice (Tiburon) had $1.5 million in
selection awards and maintenance renewals. Attack Protection (�AP�)
had $3.5 million of new awards during the month. This total
includes a $2.0 million award at Fiber SenSys for its fiber optic
based perimeter alarm systems, the second largest award in the
company�s history. The total also includes a $300 thousand domestic
courthouse project for Norshield bullet, blast and attack resistant
windows and doors. Integrated Electronics Systems (�IES�) had $1.2
million in awards. This includes a $500 thousand order for Signami
DCS� SignalWorks digital recorders for signals intelligence. The
pipeline of project opportunities in process or expected at most of
our businesses remains quite active. �Awards�, while evidenced by
written confirmation from the customer, generally remains subject
to negotiation of a definitive contract with detailed conditions
and agreements. While it is unusual not to reach agreement, it
remains a possibility until the definitive agreement has been
signed by all parties. 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 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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