Printrak Announces Investment In New Division
ANAHEIM, Calif.--Printrak International Inc., (NASDAQ:AFIS), Tuesday announced that it will make a significant investment in its computer-aided dispatch (CAD) and records management systems (RMS) division, recently acquired from SCC Communications.
Richard Giles, President and Chief Executive Officer, said, "As expected, we will make a significant investment in our CAD/RMS technology and in integrating this technology with our other public safety and criminal justice systems. Although this investment in technology will have a negative impact on short term earnings, we expect a positive contribution from this division next fiscal year.
"The market potential for our CAD/RMS solution appears even greater than we thought it would be before the acquisition. The Printrak CAD/RMS division has already been awarded a contract in Saginaw County, Mich., valued at $950,000. This is another step forward in our strategy of industry consolidation. Printrak is the only company positioned to supply public safety and criminal justice customers with a total solution to their identification and information needs."
This news release may contain forward-looking statements that involve risk and uncertainties. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Printrak.
Although Printrak believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. In the light of the uncertainties inherent in the forward-looking information included herein, the inclusion of such information should not be regarded as a representation by Printrak or any other person that Printrak's objectives or plans will be achieved.
Printrak International (http://www.printrakinternational.com) is a leading worldwide supplier of integrated identification and information systems used primarily in criminal justice and public safety applications, and with increasing frequency in civil applications, such as welfare and immigration control. The company provides networked fingerprint, photo imaging, computer-aided dispatch and automated records management systems. The company's systems serve approximately 600 national, state, county and municipal agencies in 26 countries.
CONTACT: Printrak International Inc., Anaheim
Francine M. Harris, 714/238-2000
Greg Witter, 714/238-2000
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They were cut to neutral today from Cowen and fell to 9 7/8. Where do people see the bottom being?
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