Summary
State and local budget cutbacks took a toll on CompuDyne Corp.'s biggest business, sending the Hanover-based security products maker to its first quarterly loss since 1995.
The company's institutional security systems business - which serves prisons and courthouses and makes up half of the company's income - earned $16 million during the three months ending March 31, a $7 million drop from the same quarter a year ago.See the full content of this document
Extract
Government Cutbacks Hurt Compudyne Revenue
In all, revenues were down nearly 17 percent in the first quarter. The company lost 4 cents per share for the quar...
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