LaserCard Receives Orders Totaling $1.6 million

LaserCard Corporation announced that it has received follow-on purchase orders totaling $1.6 million for optical memory cards for vehicle registration programs in three states in India.

LaserCard’s Authorized Value-Added Reseller (VAR) has just completed a business restructuring, enabling accelerated investments in the development of its vehicle registration card issuance and support infrastructure. The VAR has informed LaserCard that it anticipates that its reorganized business model will facilitate faster program growth. Shipments on these orders are scheduled for the June quarter. Meanwhile, the VAR has indicated that orders may exceed $1 million in each of the next two quarters for the same three states and is hopeful of adding additional states this year.

“We are pleased that our VAR has increased demand for our optical cards beyond our initial expectations for this quarter,” said Bernard C. Bailey, Chairman of the Board of Directors. “The issuance of secure vehicle registration documents reduces tax evasion and fraud and results in a net tax revenue benefit for the states involved. We are proud that LaserCard is making a key contribution to document security via our tamperproof data storage technology.”

LaserCard Corporation