MOUNTAIN VIEW, Calif. - (Business Wire) LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, today announced that it has received a purchase order to supply a next generation card encoding solution for the Department of Homeland Security
’s (DHS) U.S. Permanent Resident Card (
“Green Card
”) Program.
Under the terms of the purchase order, received from DHS U.S. Citizenship and Immigration Service’s Prime Contractor, LaserCard will supply 40 next generation encoders, associated software and services. The new solution will replace “Green Card” personalization equipment which is more than a decade old. The encoders and software, valued at approximately $170,000, are expected to be delivered over the next six months.
“The move to our enhanced encoding solution confirms the Department of Homeland Security’s continued commitment to optical memory technology,” said Bernard C. Bailey, chairman of LaserCard’s board of directors. “The award of this purchase order is further testament to LaserCard’s continuing ability to provide a best of breed technology for secure ID card solutions and is the precursor to the introduction of an advanced design optical memory-based Green Card.”
The new encoding solution features advanced laser technology which greatly enhances the resolution and contrast of LaserCard’s personalized Embedded Hologram. The feature is unique among all data storage technologies used on cards in that it permanently marks the digital recording medium with eye visible data, in this case the facial image of the cardholder. This feature has proven to be one of the most significant visual security components of optical card credentialing programs and is currently also in use on the US/Mexico Border Crossing Card, the Canadian Permanent Resident Card, the Italian Citizen and Resident IDs, the Costa Rica Resident ID and a Middle Eastern National ID Card.
“The visual and digital information encoded to LaserCard’s optical memory is tamperproof and has never been compromised. This is crucial to note in a world where visual inspection is still the most common means of credential and ID verification,” Bailey said. “Optical memory technology provides the most secure solution available today and represents a security bridge to the electronic ID future where infrastructure will be widely available to authenticate credentials and verify ID automatically.”
About LaserCard Corporation
LaserCard Corporation is a leading provider of secure ID solutions to governments and commercial clients around the world, and also manufactures a wide range of advanced, secure identity documents. These ID documents include the LaserCard® optical memory card and hybrid cards combining optical memory with contact, contactless and RFID chip technology. The Company’s cards and systems are widely used in countries around the world, including the United States, Canada, Italy, India and the Middle East, for demanding applications including border security, government service provision and facility access. LaserCard’s wholly-owned German subsidiary, Challenge Card Design Plastikkarten GmbH, manufactures and offers a wide range of high quality specialty cards, plus card personalization and ID management solutions under the CCD and Cards & More brands.
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 our expectation that our shipments under the order will be made during the next six months, that this order is the precursor to the introduction of an advanced design optical memory-based Green Card, and that in the electronic ID future infrastructure will be widely available to authenticate credentials and verify ID automatically. These forward-looking statements 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 US DHS attempts to delay or cancel deliveries under the order, whether we encounter difficulties in making the equipment, whether there are quality or other issues with the equipment, whether the US DHS ever orders the advanced design optical memory-based Green Card, whether infrastructure will be forthcoming to automatically verify ID 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.
LaserCard Corporation
Steven G. Larson, 650-969-4428
VP-Finance
or
Edelman
Lisa Hanna, 202-326-1734
Lisa.hanna@edelman.com
