LaserCard Corporation Receives $2.8 Million Order for Costa Rica Foreign Resident Cards
September 20 2010 - 7:30AM
Business Wire
LaserCard Corporation (NASDAQ:LCRD), a leading provider of
secure ID solutions, has received a follow-on purchase order valued
at approximately $2.8 million to supply Costa Rica’s Immigration
Authority with Foreign Resident Cards. The credentials feature
LaserCard’s optical security media, the same technology at the
heart of the U.S. “Green Card.” Delivery of cards is expected to be
completed by the end of December 2010.
“We are pleased to see this regionally important border security
program continue to expand,” said Robert DeVincenzi, President and
CEO of LaserCard. “The Costa Rican government has shown leadership
in its application of advanced, secure credential technology to the
challenge of controlling illegal immigration.”
LaserCard’s advanced ID credentials are trusted by governments
worldwide in a variety of ID card programs, including citizen ID,
foreign resident ID, student ID, government employee ID, vehicle
registration and driver licenses.
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 further 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 $2.8 million recognized
as revenue in 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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