Science & Technology
Science and Technology
Science and Technology 
Mon, January 12, 2009
LaserCard Corporation Receives a $5.4 Million Follow-on Order for Saudi Arabia National ID Card Program
MOUNTAIN VIEW, Calif.--([ BUSINESS WIRE ])--LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, today announced a follow-on purchase order valued at $5.4 million to supply secure credentials for the Kingdom of Saudi Arabia's National Identity Card program.
The national ID cards will be personalized and issued to Saudi citizens via regional issuance centers in cities throughout the Kingdom. Deliveries are scheduled to begin in the current quarter ending March 31, 2009 and are scheduled to be completed in the quarter ending June 30, 2009.
"We are pleased to continue our support of this vital citizen identification program," said Bob DeVincenzi, President and CEO of LaserCard Corporation.
The Saudi Arabia National ID card is a wallet-sized card that features LaserCard's optical memory security and a contact chip on one side, and the cardholder's picture and demographic information on the other. The optical memory adds an unsurpassed level of digital and visual security to the card. As well as enabling the secure storage of the cardholder's digital information, such as demographics and facial image, the optical stripe is permanently marked with visible cardholder identity information for ease and confidence of visual verification. This blending of digital and visual security is unique among all card-based data storage technologies. The card is used for secure personal identification and to manage the provision of citizen services through the country's electronic government initiatives.
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 memory 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 go to[ 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. An example of a forward-looking statement in this release is the expectation that our shipments under the $5.4 million order will begin in the March 2009 quarter and will be completed by June 2009. 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 Saudi government decides to delay or cancel deliveries under the current order; whether political forces put a hold on the Saudi national ID card program, and whether we encounter difficulties in making the cards or the cards have quality or other issues which cause a delay in their acceptance as well as the risk factors detailed in the Company's Form 8-K, 10-K, and 10-Q filings with the Securities and Exchange Commission. 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.