Sensormatic's finances will not affect U.

Although Sensormatic Electronics Corporation -- which signed a long-term contract last year to provide the University with technological security products -- was hit with a consolidated net loss of $35.4 million during its last fiscal quarter, the company's financial problems are not expected to affect any of the University's safety initiatives. While none of Sensormatic's technological safety initiatives -- which include advanced biometric iris and hand scanners -- have yet been installed in University buildings, a Division of Public Safety spokesperson said the company was in the process of installing new electronic card readers in the Graduate School of Education and the Veterinary Hospital of the University of Pennsylvania. Unlike the card scanners currently situated in entranceways to campus dormitories, dining halls and some libraries -- which require Spectaguards or University personnel to swipe students' cards -- students and faculty will manually swipe their own valid PennCards through the Education and VHUP readers. Penn Security Project Coordinator Dominic Ceccanecchio added that installation of Sensormatic's new security devices remains on track and will not be affected by the company's fiscal problems, but refused to elaborate on when the devices would be installed in campus buildings or to provide specific details of the services to be offered. Penn Security Director Chris Algard and Spectaguard Vice President Gesi McAllister were unavailable for comment yesterday. Sensormatic's financial difficulties -- announced in August -- will force the company to eliminate approximately 19 percent of its workforce. Although Sensormatic's quarterly revenues reached $273 million last June -- marking the highest quarter in the company's history -- the European operations' lower revenue growth and high operating expenses contributed to the substantial overall loss. Sensormatic spokesperson Leigh Pernice said the company will cut over 1,200 positions in the European division, but stressed that the changes would not affect any of the company's United States operations. And she added that Sensormatic's production and delivery accounts for retail, commercial and industrial marketplace are up to par. Although the company has prepared estimates to predict its future profitability, Sensormatic officials noted that certain "forward-looking matters? involve risks and uncertainties" which could skew the predictions significantly. But President and Chief Executive Officer Robert Vanourek said he was optimistic about the company's future. "Excellent results are being achieved in our North American Retail, International Retail and Global Source Tagging business units" due to Sensormatic's "new infrastructure," he said. He added that "the fourth quarter revenue increases for these business units demonstrate that we are not only maintaining, but also confirming our market leadership position in key market segments."