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| cardsnmore.com / press_releases / 21-08-2006.html |
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LaserCard Corporation Announces $1.2 Million Follow-On Order for Optical Memory-Based National ID Card Project - Orders For This Project Total $4 million This Year - |
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21.08.2006 - LaserCard Corporation (NASDAQ:LCRD) today announced receipt of a $1.2 million purchase order, under a subcontract valued at approximately $11 million, for the LaserCard® optical memory-based national ID card project in a Middle Eastern country. This is the third of ten purchase orders expected under the subcontract, bringing the total value of orders received to over $4 million.
Richard Haddock, CEO of LaserCard Corporation, said today, "We are very encouraged by the continuing rollout of this significant program, and that our optical memory card's unparalleled security is successfully addressing some of the key challenges being faced in this area of the world."
The purchase order is to be fulfilled over a 120 day period and is for the supply of personalized secure national ID cards and the supply, installation and support of associated card personalization equipment and consumables. LaserCard continues in its project management role for management of the card 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 will recognize revenue upon issuance of personalized cards, after the full card issuing infrastructure is in place, anticipated to be completed in September or October. Once this is complete, the customer will have the capability to issue cards from twenty sites throughout the country. |
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