Cogent Systems Receives Letter of Intent for $31.75 Million Follow-on Order from the Venezuelan National Electoral Council.SOUTH PASADENA South Pasadena (păs'ədē`nə), city (1990 pop. 23,936), Los Angeles co., S Calif., a residential suburb of Los Angeles; inc. 1888. Medical supplies, clothing, and transportation and electronic equipment are manufactured. , Calif. -- Cogent COGENT - COmpiler and GENeralized Translator Systems (Nasdaq:COGT) today announced it has received a letter of intent for a $31.75 million follow-on order to add capabilities to its Automated Fingerprint Identification Systems Automated Fingerprint Identification System (or AFIS) is a system to automatically match one or many unknown fingerprints against a database of known prints. This is done for various reasons, not the least of which is because the person has committed a crime. (AFIS AFIS Automated Fingerprint Identification System AFIS Aerodrome Flight Information Service AFIS Armed Forces Radio and Television Service AFIS Airborne Flight Information System AFIS Automated Fingerprinting Identification System (Pakistan) ) solution for the National Electoral Council (CNE (Certified NetWare Engineer) See Novell certification. ) in Venezuela. The follow-on contract is for the joint development by CNE and Cogent of a completely paperless national voter registration Voter registration is the requirement in some democracies for citizens to check in with some central registry before being allowed to vote in elections. An effort to get people to register is known as a voter registration drive. Centralized/compulsory vs. and authentication system The combination of authentication server and authenticator, which may be separate devices or both reside in the same unit such as an access point or network access server. The authentication server contains a database of user names, passwords and policies, and the authenticator physically for an upgraded database of 24,000,000 voters. The system upgrade will include the configuration, distribution and operation of 12,000 stations nationwide as well as the hiring and training of 16,000 operators for the upcoming state and county elections scheduled for the third quarter of 2005. Last year Cogent was awarded a contract to provide its AFIS solution for the Venezuelan national referendum, which took place on August 15, 2004, and a separate contract for the mayoral and regional elections in Venezuela Elections in Venezuela gives information on elections and election results in Venezuela. Venezuela elects on a national level a head of state – a president – and a unicameral federal legislature. on October 31, 2004. Cogent's AFIS solution was utilized to capture voters' fingerprints, create a database, and match the fingerprints to authenticate (1) To verify (guarantee) the identity of a person or company. To ensure that the individual or organization is really who it says it is. See authentication and digital certificate. (2) To verify (guarantee) that data has not been altered. voters' identities and prevent duplicate registration. "Cogent is dedicated to delivering state of the art technology and great value to the CNE, as it expands the database size and increases the capabilities of our AFIS system for the upcoming elections," commented Ming Hsieh Ming Hsieh (simplified Chinese: 谢明; traditional Chinese: 謝明; b. 1955) is a billionaire Chinese American entrepreneur and philanthropist and the founder of AMAZ technology in 1987 and Cogent Systems in 1990. , President and Chief Executive Officer of Cogent. "The development of a completely paperless system for the CNE significantly improves upon the speed and accuracy of the voting process." About Cogent Systems Cogent is a leading provider of Automated Fingerprint Identification Systems, or AFIS, and other fingerprint biometric solutions to governments, law enforcement agencies A law enforcement agency (LEA) is a term used to describe any agency which enforces the law. This may be a local or state police, federal agencies such as the Federal Bureau of Investigation (FBI) or the Drug Enforcement Administration (DEA). and other organizations worldwide. Cogent's AFIS solutions enable customers to capture fingerprint images electronically, encode fingerprints into searchable files and accurately compare a set of fingerprints to a database containing potentially millions of fingerprints in seconds. Forward-Looking Statements This press release contains, in addition to historical information, forward-looking statements. Such statements are based on management's current estimates and expectations and are subject to a number of uncertainties and risks that could cause actual results to differ materially from those described in the forward-looking statements. Cogent is providing this information as of the date of this press release, and expressly disclaims any duty to update information contained in this press release. Forward-looking statements in this press release include, without limitation, express and implied statements regarding Cogent's future domestic and international growth, and opportunities in the civil market for voting applications. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially from those expressed or implied here. Readers are referred to Cogent's Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2005 filed by Cogent with the Securities and Exchange Commission which identifies important risk factors that could cause actual results to differ from those contained in the forward-looking statements, including but not limited to: risks related to the final approval process by relevant Venezuelan authorities and the terms of the definitive agreement; changes in government policies; deriving a significant portion of revenues from a limited number of customers; deriving a significant portion of revenues from the sale of solutions pursuant to government contracts; failure of the biometrics market to experience significant growth; failure of Cogent's products to achieve broad acceptance; failure to successfully compete; failure to comply with government regulations; negative publicity and/or loss of clients due to security breaches resulting in the disclosure of confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead ; loss of export licenses or changes in export laws; failure to manage projects; rapid technology change in the biometrics market; loss of a key member of management team; termination of backlog orders; loss of limited source suppliers; negative audits by government agencies; failure to protect intellectual property; and exposure to intellectual property and product liability claims. The information contained in this press release is a statement of Cogent's present intention, belief or expectation and is based upon, among other things, existing industry conditions, market conditions, the economy in general and Cogent's assumptions. Cogent may change its intention, belief or expectation, at any time and without notice, based upon any changes in such factors, in its assumptions or otherwise. Cogent undertakes no obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. |
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