News & Press
CompuDyne's Public Safety & Justice Division, Tiburon, Renamed CompuDyne - Public Safety & Justice, Inc.
Date: Thursday, May 26, 2005
ANNAPOLIS, Md.--(BUSINESS WIRE)--May 26, 2005--CompuDyne Corporation (Nasdaq:CDCYE), an industry leader in sophisticated security products, integration and technology for the public security markets, announced today that its Public Safety & Justice Division, Tiburon, Inc., has been renamed CompuDyne - Public Safety & Justice, Inc.
"This name change more accurately positions Tiburon as a CompuDyne company, which opens doors to more cross-marketing opportunities and an expanded client base," said Martin Roenigk, Chairman and CEO. Tiburon, an industry-leading provider of automated systems to law enforcement, fire & rescue, corrections and justice agencies, and CompuDyne serve a common client base - providing technology-based security products for public safety and justice environments.
"By uniting the companies and products, our clients will benefit from the synergy of a single entity providing the most technologically advanced, comprehensive solutions to the public safety and justice market," says Dan A. Crawford, President and CEO of CompuDyne - Public Safety & Justice, Inc.
CompuDyne - Public Safety & Justice, Inc. remains a wholly owned subsidiary of CompuDyne Corporation.
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.
CONTACT: CompuDyne Corporation
Investor Relations
Geoffrey F. Feidelberg, 410-224-4415 ext.313
investors.relations@compudyne.com
SOURCE: CompuDyne Corporation
