CompuDyne gets security jobs at JFK and 2 other airports

Its materials resist blasts and bullets

March 19, 2003|By Gus G. Sentementes | Gus G. Sentementes,SUN STAFF

CompuDyne Corp., a Hanover-based maker of security systems, said yesterday that it recently won contracts worth $2.5 million to provide security technology at three airports.

CompuDyne was awarded jobs worth a combined $1.3 million for the installation of 7,000 square feet of blast-resistant windows at Ted C. Connell Airport in Killeen, Texas, and 1,000 square feet of bullet-resistant window and wall systems at the British Airways terminal at John F. Kennedy Airport in New York, the company said.

The company also said it received a $1.2 million contract for a major upgrade of the computer-aided dispatch and records management system at Dallas-Fort Worth International Airport.

In addition, CompuDyne said, it is supplying bullet-resistant cockpit door viewers for an undisclosed manufacturer of aircraft cockpit doors.

The contracts are an indication that spending on security-related items since the 2001 terrorist attacks is starting to pick up for CompuDyne.

After the attacks, business picked up for manufacturers of such devices as bomb-detection equipment for baggage. But CompuDyne, the largest supplier of bulletproof glass to U.S embassies around the world, has mostly missed out on the corporate and government spending on security, said Brian Ruttenbur, an equity research analyst who follows the company for Morgan Keegan & Co. in Nashville.

"There's going to be more of these kinds of awards going forward," Ruttenbur said. "Post 9/11, there's been a retrenching of what [corporations and government] want to do. They want to spend the money, but it's been slow going trying to get everything standardized."

CompuDyne also said yesterday that it will release fourth-quarter and year-end financial data Tuesday, after postponing the results last month.

Martin A. Roenigk, CompuDyne's chairman and chief executive officer, said the postponement was related to its auditors' late start in evaluating the impact of the $12 million purchase last year of its Tiburon unit, which makes computer-aided dispatch systems used by police and fire stations.

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