Compudyne (NASDAQ:CDCY)
Historical Stock Chart
From May 2019 to May 2024
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.