CDCY Compudyne Corp (MM)

Headline of release should read: Riverside County Contracts with Tiburon for a $1.8 Million Upgrade to its Records Management System๏ฟฝ(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๏ฟฝs public safety and justice unit, Tiburon, Inc. of Pleasanton, CA, to provide a comprehensive upgrade to the Sheriff๏ฟฝs 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๏ฟฝs 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๏ฟฝs 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๏ฟฝs 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๏ฟฝs 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๏ฟฝs products, competitive factors and pricing pressures, changes in legislation, regulatory requirements, government budget problems, the Company๏ฟฝs 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๏ฟฝs 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๏ฟฝs ability to realize anticipated cost savings, the Company๏ฟฝs ability to simplify its structure and modify its strategic objectives, and general economic conditions. Risks inherent in the Company๏ฟฝs business and with respect to future uncertainties are further described in its other filings with the Securities Exchange Commission, such as the Company๏ฟฝs Form 10-K, Form 10-Q, and Form 8-K reports.