LaserCard Corporation Renews Contract to Supply Secure Cargo Identification Solution to U.S. Department of Defense
One Millionth Automated Manifest Card Shipped; Durability Withstands War Zones and Harsh Environments
Mountain View, Calif., November 4, 2009–LaserCard Corporation (NASDAQ:LCRD) (http://www.lasercard.com), a leading provider of secure ID solutions, today announced that is has shipped its one millionth automated manifest system (AMS) card, used for securely identifying contents of U.S. Department of Defense (DOD) shipping containers. The U.S. Defense Logistics Agency (DLA) recently renewed the AMS contract for three years through prime contractor General Dynamics Information Technology, a business unit of General Dynamics (NYSE:GD).
“Our cards are deployed throughout the U.S. Army’s distribution and receiving infrastructure worldwide and continue to meet the most demanding cargo identification, reporting and durability needs,” said Robert DeVincenzi, President and CEO of LaserCard. “We are pleased to continue our engagement in this important program.”
The DLA has utilized LaserCard’s AMS cards and readers since the early 1990s, when the DoD introduced a new system to increase in-transit visibility, expedite receipt processing, prioritize container processing, facilitate discrepancy reporting, and provide a portable permanent record of transactions.
The system succeeded in resolving all in-transit identification problems while improving the processing, reporting and cost-effectiveness of the Army’s global cargo identification procedures. The AMS system has won numerous awards, including the Vice Presidential “Golden Hammer Award” for cutting logistics costs by more than 67%.
On the tenth anniversary of the program, the optical media card was credited with “a failure rate of virtually zero” and was described by one veteran program manager as the most durable and reliable media seen in over 30 years of DOD logistics experience.
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.
For further information, please visit http://www.lasercard.com.
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 implications that the Defense Logistic Agency will continue to specify LaserCard’s optical security media card for the three-year life of the current contract or that the contract will not be canceled or terminated during its term. 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 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.
For Further Information
Steven G. Larson, VP-Finace