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| cardsnmore.com / press_releases / 09-07-2007.html |
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LaserCard Corporation Announces $4.3 Million Follow-On Order for a New Phase of an Optical Memory-Based National ID Card Project |
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09.07.2007 - LaserCard Corporation (NASDAQ:LCRD), a leading supplier of secure ID credentials used in biometric identification, today announced receipt of a $4.3 million purchase order under a previously announced subcontract for the supply of Optical/Smart cards for a LaserCard®-based national ID card project in a Middle Eastern country. This order is in addition to the order announced on June 28, 2007. Orders under this subcontract now total more than $10 million.
Deliveries under the current order began this month and are scheduled to continue through calendar 2007 and are subject to acceptance by the end customer. The subcontract allows for optional orders over a four-year period of up to another approximately $37 million in cards.
As stated in a May 8, 2006 news release, LaserCard Corporation assumed for the first time responsibility for both supplying and installing personalization hardware, the oversight of the personalization process, and the quality of the fully personalized cards, including the printing of cardholder information and encoding of data and the Embedded HologramHD. LaserCard Corporation has now successfully implemented the system integration services and has transitioned these activities to the customer. Under the new phase, LaserCard Corporation will continue to supply Optical/Smart cards and card encoders for this program.
"The continued roll-out of this highly successful Optical Memory Card program again demonstrates our ability to deliver cost effective solutions in the international arena to achieve customer expectations for high security credentials," said Richard Haddock, CEO of LaserCard Corporation. |
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