News & Press
CompuDyne - Public Safety Safety and Justice, Inc. to Be Doing Business as Tiburon
Date: Tuesday, August 08, 2006
ANNAPOLIS, Md.--(BUSINESS WIRE)--Aug. 8, 2006--CompuDyne Corporation (NASDAQ:CDCY), an industry leader in sophisticated security products, integration and technology for the public security markets, announced today that its subsidiary CompuDyne - Public Safety & Justice, Inc. will do business using its original name, Tiburon. Tiburon has been a recognized leader in the public safety and justice software solutions business for over 25 years and has tremendous name recognition in the industry.
"The Tiburon name has a very strong identity with its clients and the emergency services community. It made sense to leverage this valuable asset and return to using the name Tiburon," said Martin Roenigk, Chairman and CEO.
As one of many steps to recapture the essence of Tiburon, Gary Bunyard, former Chief Executive Officer and President of CompuDyne - Public Safety & Justice, has returned as interim President of Tiburon, responsible for the daily operations of the company.
"Our clients and our employees still refer to us as Tiburon," says Gary Bunyard, President of Tiburon. "By going back to using the name Tiburon, we retain our identity and our heritage, while still enjoying the strength and backing of the CompuDyne company."
"Travis County chose Tiburon to implement our Integrated Justice System because of their knowledge and reputation in the public safety and justice community. It is our hope that with the new leadership the 'service to the client' spirit that we have come to expect under the Tiburon name will be strengthened," says Joe Harlow, Chief Technology Officer, Travis County, Texas.
Tiburon is an industry-leading provider of automated public safety and justice systems which meet the demanding and complex needs of law enforcement, fire & rescue, corrections and justice environments. Since its inception, Tiburon has focused exclusively on mission-critical public safety solutions, and continues to invest in research and development to obtain the best technology and depth of functionality.
###
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.
SOURCE: CompuDyne Corporation
CONTACT: CompuDyne Corporation
Geoffrey F. Feidelberg, 410-224-4415 ext. 313
investors.relations@compudyne.com
