LaserCard Corporation Wins Secure Professional Drivers License
Project in Hungary
Tamperproof Optical Media Credential Bolsters Hungary’s Critical Border Security Needs
MOUNTAIN VIEW, Calif. – January 5, 2010 – LaserCard Corporation (NASDAQ:LCRD), a leading provider of secure ID solutions, today announced that it has been awarded the contract to supply highly secure International Certification cards for professional drivers by Hungary’s Public Transportation Authority.
The Hungarian government will issue special five-year certification cards to professionals, such as bus drivers, truck drivers, ship captains and airline pilots, who drive or pilot Hungarian registered commercial vehicles internationally. The cards feature LaserCard’s tamperproof and highly counterfeit-resistant optical security media, which is intended to store the holder’s facial image, biometrics and demographics.
“The Hungarian government decided that the fundamental importance of security at the nation’s borders, whether air or land, required the most secure credentialing technology available,” said Bob DeVincenzi, president and CEO of LaserCard. “The key advantages of LaserCard’s optical security mediaits tamperproof visual security, its outstanding durability and the fact that its digital security has never been compromisedfit the Hungarian government’s requirements precisely.”
It is anticipated that the Hungarian government will purchase certification cards valued at about $4 million over the next six years. LaserCard has received the contract from its local partners and initial deliveries have begun. The card design complies with international standards for driver licenses and optical media credentials to ensure appropriate levels of international interoperability.
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, 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.
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 anticipated requirement credentials valued at about $4 million over the next six years and the implication that such orders will be received. 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, 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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