City of Chesapeake, VA Contracts With CompuDyne-Public Safety & Justice, Inc. for a Public Safety System.ANNAPOLIS, Md. -- CompuDyne Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDCY) an industry leader in sophisticated security products, integration and technology for the public security markets, announced today that it has signed a contract to provide a new $900 thousand public safety system for the city of Chesapeake, Virginia Chesapeake is an independent city located in the South Hampton Roads region of eastern Virginia in the United States. One of the Seven Cities of Hampton Roads, Chesapeake was formed in 1963 by a political consolidation of the City of South Norfolk with the former Norfolk County, . CompuDyne - Public Safety & Justice, Inc. (CompuDyne), formerly Tiburon, Inc., is an industry-leading provider of automated public safety and justice systems to meet the demanding and complex needs of law enforcement, fire & rescue, corrections and justice environments. This comprehensive system includes new Computer Aided Dispatch, Records Management, and Field Reporting System to support the city's public safety operations for years to come. The Chesapeake Police Department, a longtime CompuDyne client, wanted to upgrade their existing systems to take advantage of new hardware technology and enhanced functionality. "After a thorough evaluation and rigorous demonstration process, the city selected the CompuDyne solution due to their success in implementing systems, as well as, the system's ability to meet or exceed all of our functional requirements," states Cindy Feldman, Chesapeake Police Department's Information Technology Manager. "Even though our existing CompuDyne field reporting system met state mandates and departmental requirements for paperless reporting, the new reporting system is especially impressive and user friendly. Another, factor in this award was CompuDyne's proven success in implementing a Computer Aided Dispatch system with virtually no downtime." The new Computer Aided Dispatch (CAD) system will serve the city's police and fire departments and will allow dispatchers to respond to and manage citizen's requests for emergency services emergency services Emergency care '…services …necessary to prevent death or serious impairment of health and, because of the danger to life or health, require the use of the most accessible hospital available and equipped to furnish those services' more efficiently. The CAD system operates on fully distributed Fully distributed A new stock issue that has been completely resold to the investing public and is no longer held by dealers. fully distributed Of or relating to a new issue of securities that has been sold out. Microsoft Windows(R) workstations, providing server-independent processing of all critical CAD functions and a reliable configuration approaching 100% system availability. If any component fails, the system continues to function. CompuDyne has successfully deployed this unique system architecture in several city, county, and state-wide public safety communication centers across the country The comprehensive Records Management System (RMS) will consolidate and automate records processing and criminal investigations for the city. In addition, a comprehensive mobile communications component that includes automated report writing will be installed on approximately 275 laptops mounted in the department's vehicles. Work has begun on this important project. CompuDyne has installed similar public safety systems throughout the Mid-Atlantic including Arlington County, Virginia Arlington County is an urban county of about 203,000 residents in the Commonwealth of Virginia, in the U.S., directly across the Potomac River from Washington, D.C. [1] ; Prince George's County, Maryland
Prince George's County is located in the U.S. state of Maryland located immediately north, east, and south of Washington, D.C. ; the city of Virginia Beach, Virginia Virginia Beach is an independent city located in the South Hampton Roads area in the Commonwealth of Virginia, on the shores of the Chesapeake Bay and the Atlantic Ocean. It is the most populous city in Virginia and the 41st largest city in the United States, with an estimated ; and the city of Baltimore, Maryland. Certain statements made in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. 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 An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called 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-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , Form 10-Q Form 10-Q See 10-Q. , and Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. reports. |
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