LaserCard Receives a $550,000 Follow-On Order for Italian Citizen ID Cards

Published on Wednesday, 11 August 2010 07:33 Written by TradersHuddle Staff

MOUNTAIN VIEW, Calif.-( Business Wire )-

LaserCard Corporation (NASDAQ:LCRD)(www.lasercard.com), a leading provider of secure ID solutions, has received a purchase order to supply additional optical security media cards for Italy’s Citizen ID Card program, known as the Carta d'Identità Elettronica or CIE, to be delivered by November 2010. The highly secure, counterfeit-resistant ID cards are used by citizens for identification and travel.

The digital security of Italy’s Citizen ID Card has never been compromised, providing security and law enforcement authorities with an important asset in preventing counterfeiting and the fraudulent use of vital documents. In addition to this program, LaserCard’s multi-technology ID cards are also used by two key Italian government agencies – the Ministry of Justice and the Carabinieri, Italy’s National Police – to help protect their employees and provide secure access to government facilities.

“We are pleased to continue working with our partners and the Italian government to support the ongoing demand for this important national program,” said Robert DeVincenzi, President and CEO of LaserCard Corporation. “Italy’s continuing investment in secure ID credentials based on optical security media underscores the country’s commitment to protecting its internal security and the security of its borders through the valid identification of citizens.”

LaserCard’s advanced ID credentials are trusted by governments worldwide to protect the personal identification of their citizens, foreign residents and government employees, and to provide official documentation such as driver licenses and vehicle registration cards. LaserCard supplies ID credentials for government ID programs worldwide, including the next-generation U.S. Green Card, multiple programs in Italy, the Saudi Arabian and Angolan National ID Cards, the Costa Rica Foreign Resident Card, the Hungarian Professional Driver License and vehicle registration programs for three state authorities in India.

The purchase order was received from LaserCard’s Rome-based Authorized Value Added Reseller, Laser Memory Card S.p.A.

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 $550,000 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.

LaserCard CorporationSteven G. Larson, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.