Cogent Systems (Nasdaq: COGT) today announced that it has been awarded a
contract to provide services to Post Office Limited in the United
Kingdom. The initial contract is valued by the Company at £42 million
pounds or approximately $60 million dollars over a five year period. The
size of the initial award is potentially larger than any other single
international win in the Company’s history.
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
growth and timing of the performance of the UK Post Office contract.
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-K for
the year ended December 31, 2008 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
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; 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.
Cogent Systems, Inc.
Paul Kim, 626-325-9600
www.cogentsystems.com
or
The
Blueshirt Group, Investor Relations
Chris Danne, 415-217-7722
chris@blueshirtgroup.com
Jill
Isenstadt, 415-217-7722
jill@blueshirtgroup.com