LaserCard Receives $2.1 Million in Orders for Saudi Arabia National ID Card Program
09 Décembre 2010 - 1:30PM
Business Wire
LaserCard Corporation (NASDAQ:LCRD), a leading provider of
secure ID solutions, has received follow-on purchase orders valued
at approximately $2.1 million for chip-ready, optical security
media-based credentials for the Saudi Arabia National ID Card
program. Delivery is scheduled to begin this quarter and be
completed in the current fiscal year.
The ID cards are issued to Saudi citizens nationwide for
identification, e-government and regional travel purposes.
“The Saudi Arabian program provides world-class protection and
functionality, and enables citizens to benefit from credentials
using ID technology acknowledged as among the most advanced and
secure available today,” said Robert DeVincenzi, president and CEO
of LaserCard.
LaserCard’s advanced ID credentials are trusted by governments
worldwide to protect the personal identification of their citizens,
foreign residents and government employees, and to provide official
documentation such as driver licenses and vehicle registration
cards.
About LaserCard Corporation
LaserCard Corporation, together with its subsidiaries, is a
leading provider of secure ID solutions to governments and
commercial clients worldwide. It develops, manufactures, and
integrates LaserCard® optical security media cards,
multi-technology cards, encoders, peripherals, smart and specialty
cards, biometrics, and modular software. The Company’s cards and
systems are used in various applications, including citizen
identification, border security, government service delivery, and
facility access.
For more information, please visit www.lasercard.com.
Forward-Looking Statements
All statements contained in this press release that are not
historical facts are forward-looking statements made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 and are not historical facts or guarantees of
future performance or events. Rather, they are based on current
expectations, estimates, beliefs, assumptions, and goals and
objectives and are subject to uncertainties that are difficult to
predict. As a result, our actual results may differ materially from
the statements made. Often such statements can be identified by
their use of words such as may, will, intends, plans, believes,
anticipates, visualizes, expects, and estimates. Examples of
forward-looking statements in this release include the expected
date of delivery under the purchase order and the implication that
the entire order will be delivered and the $2.1 million recognized
as revenue in the current or future periods. This and other
forward-looking statements in this press release are based upon our
assumptions about and assessment of the future, which may or may
not prove true, and involve a number of risks and uncertainties
including, but not limited to whether the customer’s scheduled
delivery dates are rescheduled or canceled in whole or in part,
whether the customer continues to purchase products from the
Company and whether the Company encounters card production
difficulties as well as the risk factors detailed in the Company's
Form 10-K and 10-Q filings with the Securities and Exchange
Commission under the caption “Risk Factors” and elsewhere in such
reports. Due to these and other risks, future actual results could
differ materially from the Company’s expectations. These
forward-looking statements speak only as to the date of this
release, and, except as required by law, the Company undertakes no
obligation to publicly release updates or revisions to these
statements whether as a result of new information, future events,
or otherwise.
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