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Cogent Systems Awarded Contract to Install Canadian National AFIS
South Pasadena, CA - October 14, 2005 - Cogent Systems (Nasdaq: COGT) announced today it has been awarded a contract as the prime contractor for it's new integrated Automated Fingerprint Identification System (AFIS) for the Royal Canadian Mounted Police (RCMP). The initial order is estimated at approximately $10 million, not including options. The AFIS will be used by the RCMP as part of its Real Time Identification (RTID) initiative which will meet the growing demands for post 9/11 identification services for criminal, civil, immigration and international needs. The contract provides for options to support additional integration over the next four years. IBM Canada is Cogent's partner for this project.
The contract includes software and hardware, as well as engineering services and maintenance. Cogent's new AFIS, which replaces a legacy system, will allow fingerprints to be electronically recorded, transmitted and verified against broader databases in a fast and accurate manner. The system also includes a seamless, paperless electronic workflow based on international standards and is designed to scale to support a national database in the millions of records. It will be installed and operational in 2006.
"Law enforcement and civil agencies rely on the accuracy and timeliness of these systems to support the safety and security of Canadians," said Deputy Commissioner Peter D. Martin, who is the RTID Project Sponsor. "The AFIS contract award is a significant step in the RCMP efforts to modernize these essential systems."
"We are pleased to have received this new contract award for the RCMP's RTID project," commented Ming Hsieh, President and CEO of Cogent Systems. "The bidding process for this contract included extensive in-depth independent testing of all potential vendors' matching technology. The strength of Cogent's fast, accurate and reliable AFIS technology during the testing process was a key factor in winning the contract award. Another factor is our ability to provide full electronic interoperability with existing AFIS systems throughout Canada with the new Cogent AFIS. We look forward to working with the RCMP to develop a world class system."
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 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 national identification programs. 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 for the quarter ended June 30, 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: 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; 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.
For more information, contact:
The Blueshirt Group, Investor Relations
Chris Danne, Rakesh Mehta
(415) 217-7722
chris@blueshirtgroup.com
rakesh@blueshirtgroup.com
