LaserCard Gets Italian Order

The company says it gets orders for foreigner and citizen IDs.
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Monday's

LaserCard

(LCRD)

run-up continued after hours as the memory-card maker told of a $15 million order from Italy.

The Mountain View, Calif., company said it got a $7 million order for citizen identification cards and an $8 million order for foreign worker ID cards. The company said the foreign ID order is the first it has received for that program.

The order for citizen ID cards follows the completion of two experimental phases during which LaserCard supplied more than 2 million cards, the company said.

"We are excited that Italy is beginning the rollout of both ID programs using our highly secure optical memory solution," said CEO Richard Haddock. "We believe that the Italian government's selection of LaserCard optical memory cards as the platform for these important programs reflects the confidence gained during the two-year experimental phase of the citizen ID card, during which more than 2 million cards were issued to citizens. As the Italian government implements more of its distributed data collection and card issuance infrastructure, the programs will begin to take hold in more and more cities."

LaserCard, a longtime favorite of short-sellers that was previously known as Drexler Technology, makes a card with an optical coating that enables more data to be stored than on a conventional magnetic strip. The company has recently been emphasizing the security applications of its card, after previous efforts to get the product adopted for use in national health care plans.

After rising $1.34 during regular action Monday to $8.11, LaserCard added 89 cents to $9 in postclose trading.