CompuDyne Announces $15.0 Million of New Contract Awards For May
June 28 2005 - 8:30AM
Business Wire
CompuDyne Corporation (Nasdaq:CDCYE), an industry leader in
sophisticated security products, integration and technology for the
public security markets, announced that it had total awards of
$15.0 million during the month of May, 2005. The CompuDyne Public
Safety & Justice (CPS&J) group had $2.5 million in awards
and maintenance renewals. In June CPS&J announced the
recommendation for award of a $4.1 million software project for the
City of Albuquerque. Attack Protection had $1.9 million of awards
in May. In excess of eighteen new embassies are scheduled to be let
during the second half of 2005, a further increase over the high
levels in 2004. Institutional Security Systems reported awards of
$9.5 million including the previously announced $8.8 million North
Carolina project. Integrated Electronic Systems had $1.1 million of
awards. May represents the second month in a row of increasing
company-wide backlogs for CompuDyne. 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 successfully grow the Company
by completing acquisitions, the ability to remain in compliance
with its bank covenants, delays in government procurement
processes, ability 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, 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.
Compudyne (NASDAQ:CDCYE)
Historical Stock Chart
From Sep 2024 to Oct 2024
Compudyne (NASDAQ:CDCYE)
Historical Stock Chart
From Oct 2023 to Oct 2024