L-1 Identity Solutions Receives Second Task Order for $9.4 Million in HIIDE(TM) Biometric Recognition Devices from the U.S. Department of Defense.STAMFORD, Conn. -- L-1 Identity Solutions, Inc. (NYSE NYSE See: New York Stock Exchange : ID) announced that its wholly-owned subsidiary, SecuriMetrics, Inc., received a second task order totaling $9.4 million from the U.S. Department of Defense (DoD) for HIIDE HIIDE Handheld Interagency Identity Detection Equipment (Marine Corps) (Handheld Interagency Identity Detection Equipment) biometric recognition devices and other related software. The period of performance under the order is four months and shipments are expected to be completed by the end of 2007. This order is part of an existing requirements contract A written agreement whereby a buyer assents to purchase for a sufficient consideration (the inducement to enter into an agreement) all the merchandise of a designated type that he or she might require for use in his or her own established business. with the U.S. Army's Space Program Office (ASPO ASPO Association for the Study of Peak Oil&Gas ASPO American Society of Pediatric Otolaryngology ASPO American Society of Preventive Oncology ASPO Army Space Program Office ASPO Associatie Sociaal Psychologische Onderzoekers (Netherlands) ) which supports the Tactical Exploitation of National Capabilities Congressionally mandated program to improve the combat effectiveness of the Services through more effective military use of national programs. Also called TENCAP. Program (TENCAP TENCAP Tactical Exploitation of National Capabilities ) and was first announced by L-1 in April 2007. The contract calls for a maximum of $71 million in HIIDE devices over 24 months, with the first task order valued at $23.7 million already received and shipping. "HIIDE's ability to operate at 100 percent mission readiness and with over 98 percent device reliability across very harsh operating conditions, makes this device an invaluable asset in helping our troops to quickly and safely obtain and verify identities in the field at detention centers and military base checkpoints and on the battlefield," said Robert V. LaPenta, L-1 Identity Solutions Chairman, President and Chief Executive Officer. HIIDE is the world's first hand-held biometric identification Noun 1. biometric identification - the automatic identification of living individuals by using their physiological and behavioral characteristics; "negative identification can only be accomplished through biometric identification"; "if a pin or password is lost or device that can enroll, identify or verify subjects using any of the three primary biometrics: iris, finger, face. The total number of devices ordered by the DoD from SecuriMetrics to date is 6,664, with more than 3,370 devices already shipped and currently deployed by the U.S. government in areas of global conflict. About L-1 Identity Solutions L-1 Identity Solutions, Inc. (NYSE: ID), together with its portfolio of companies, offers a comprehensive set of products and solutions for protecting and securing personal identities and assets. Leveraging what are believed to be the industry's most advanced multi-modal biometric platform for finger, face and iris recognition, our solutions provide a circle of trust around all aspects of an identity and the credentials assigned to it -- including proofing, enrollment, issuance and usage. With the trust and confidence in individual identities provided by L-1 Identity Solutions, government entities, law enforcement and border management agencies, and commercial enterprises can better guard the public against global terrorism, crime and identity theft fostered by fraudulent identity. L-1 Identity Solutions is headquartered in Stamford, CT. For more information, visit www.L1ID.com. ID-L Forward Looking Statements This news release contains forward-looking statements that involve risks and uncertainties. Forward-looking statements in this press release and those made from time to time by L-1 Identity Solutions through its senior management are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements reflect the Company's current views based on management's beliefs and assumptions and information currently available. Forward-looking statements concerning future plans or results are necessarily only estimates, and actual results could differ materially from expectations. Certain factors that could cause or contribute to such differences include, among other things, the DoD's willingness and ability to purchase the estimated procurement of HIIDE devices under the ASPO HIIDE contract, which has no guaranteed minimum value
Guaranteed Minimum Value (and its common initialism, GMV , the availability of government funding for L-1's products and solutions, the size and timing of federal contract awards, performance on existing and future contracts, general economic and political conditions and other factors affecting spending by customers, and the unpredictable nature of working with government agencies. Additional risks and uncertainties are described in the Securities and Exchange Commission filings of the L-1 Identity Solutions, including the Company's Annual Report on Form 10-Q Form 10-Q See 10-Q. for the year ended March 31, 2006. L-1 Identity Solutions expressly disclaims any intention or obligation to update any forward-looking statements. |
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