CompuDyne Receives $7.9 Million Award
05 6월 2007 - 10:00PM
Business Wire
CompuDyne Corporation (NASDAQ:CDCY), an industry leader in
sophisticated security products, integration and technology for the
public security markets, announced that its Institutional Security
Systems (ISS) segment received a $7.9 million award. ISS (Norment)
was awarded a $7.9 million project for the Wyoming Medium
Correctional Institution in Torrington, Wyoming. The project
includes providing security hardware, pneumatic locking devices,
electronic security systems, and 366 of Norment�s innovative
�MaxWall� prefabricated modular steel jail cells. This project will
start immediately and conclude in October of 2009. With the
inclusion of this and other awards, company-wide awards for the
month of May are expected to approximate $30 million. 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 remain 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 contract 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 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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