U.S. Department of Homeland Security Orders $2.6 Million of Drexler Technology's LaserCard Optical Memory Cards for Use as Enhanced ''Green Cards''.Business Editors/High-Tech Writers/Government Writers MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Dec. 19, 2003 Drexler Technology Corporation (Nasdaq:DRXR) has received a $2.6 million LaserCard order for newly enhanced Permanent Resident Cards ("Green Cards") for the U.S. Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States . The order calls for deliveries from December 2003 through May 2004. The enhanced Green Card design beginning with this order will add new security technology, including the incorporation of Drexler's high security optically variable device (OVD OVD Overdrive OVD Optical Variable Device OVD Outside Vapor Deposition OVD Overdue OVD Oracle Virtual Directory OVD Ophthalmic Viscosurgical Device (viscoelastic solution used in eye surgery) ) diffraction pattern diffraction pattern The interference pattern that results when a wave or a series of waves undergoes diffraction, as when passed through a diffraction grating or the lattices of a crystal. into the card's optical media. This newly developed OVD feature provides unique visual and optical characteristics that allow immediate authentication of the card media. Additionally, a portrait of George W. Bush was added to the border of the optical media so that the card contains the ultra-micro-images of all 43 United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Presidents. The Green Card's graphic design also was upgraded, to include the name and official seal of the U.S. Department of Homeland Security. These upgrades, in addition to the 1,000 optical card read/write drives recently purchased from Drexler Technology for installation at various U.S. points of entry, add significant value to the U.S. government's investment in secure optical memory card biometric verification systems. The government card order was received through a value-added reseller A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. , Virginia-based Information Spectrum, Inc. (www.ispec.com), now a unit of Anteon International Corporation (NYSE NYSE See: New York Stock Exchange :ANT), under a five-year, U.S. government procurement Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts subcontract awarded to the Company in June 2000. Drexler Technology has manufactured over 21 million digital ID cards for the U.S. government since 1997, including U.S. Permanent Resident Green Cards and U.S.-Mexico Border Crossing Cards (BCCs). Drexler also makes the Canadian government's Permanent Resident Cards and Italy's new national ID cards. Drexler Technology Corporation (www.drexlertechnology.com) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , LaserCard Systems Corporation (www.lasercard.com) are based in Mountain View. Drexler Technology manufactures LaserCard(R) optical memory cards and chip-ready Smart/Optical(TM) cards. LaserCard Systems Corporation manufactures optical card read/write drives; develops optical card system software; and markets optical memory cards, card-related data systems, and peripherals. Forward-Looking Statements: All statements contained in this press release that are not historical facts are forward-looking statements that 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. They 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. Forward-looking statements made in this release include statements regarding the Company's U.S. government business. These forward-looking statements 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, the U.S. government's right to delay or withhold order releases, as well as other risk factors detailed in the Company's Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. , 10-K, and 10-Q filings with the Securities and Exchange Commission. Due to these and other risks, the Company's 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, we undertake 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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