CDCY Compudyne Corp (MM)

CompuDyne Corporation (NASDAQ:CDCY), an industry leader in sophisticated security products, integration and technology for the public security markets, announced today that the city of Boulder Police Department and the Boulder County Sheriff in Colorado signed contracts with CompuDyne�s public safety and justice unit, Tiburon, Inc. of Pleasanton, CA, to provide law enforcement Records Management Systems. Tiburon is an industry-leading provider of automated public safety and justice systems which meet the demanding and complex needs of law enforcement, fire & rescue, corrections and justice environments. Boulder County Sheriff, a client for more than five years, contracted with Tiburon for an upgrade to their existing Records Management and Corrections Management systems. The Sheriff�s Office wanted to take advantage of the new hardware technology and enhanced software functionality for their records and corrections operations provided by this comprehensive upgrade. After a rigorous RFP process, extensive demonstrations and a thorough evaluation of multiple vendors, the city of Boulder Police Department chose Tiburon to provide this new Records Management System to consolidate and automate records processing and criminal investigations for the police department. The new system will provide several benefits to the Boulder Police Department, including increased officer productivity through automation of labor intensive tasks and enhanced information sharing and accuracy. In addition, the Boulder Police Department wanted the ability to take advantage of the Tiburon technologies currently installed in neighboring jurisdictions. Currently the cities of Longmont, Lafayette and Greeley, and the counties of Boulder, Jefferson, Larimer and Weld, all use Tiburon solutions to automate critical public safety information, which saves precious time and improves efficiencies of law enforcement activities. 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.