LSi signs licensing agreement with American Skiing
Company for six resorts
Contract valued at more than $1 million -- largest in company history
CLEARWATER, Fla.--(BUSINESS WIRE)--June 10, 1997--Lasergate Systems, Inc. (LSi) (NASDAQ:LSGT) today announced the signing of a contract, valued in excess of $1 million, with American Skiing Company for an enterprise license for Admits, its new Windows NT based, general admission ticketing and access control system.
Shipments to six ski resorts owned and operated by American Skiing -- Attitash, Killington, Mt. Snow, Sugarbush, Sugarloaf and Sunday River -- are scheduled to begin this month, with installation to be completed by year-end.
According to Jacqueline E. Soechtig, chairman and chief executive officer of LSi, this is the single largest contract in the company's history. Revenue generated from the contract is expected to be recognized before the end of the current fiscal year.
``This agreement underscores the growing market demand for Admits and the validation of the Windows NT platform for ticketing and access control applications,'' Soechtig said. ``American Skiing continues to be a valued customer and an industry leader, and we appreciate their endorsement of our technology and products. Together, we are developing software solutions to meet the rapidly changing requirements of the ski resort industry.''
``After carefully reviewing the market for general admission ticketing and access control systems, we decided to go with LSi,'' said Tom Richardson, chief financial officer of American Skiing. ``The Admits product will enable us to implement a variety of new marketing programsinvolving season passes and other customer incentives.''
Soechtig stated that the Admits product has now been expanded to include RF/ID technology for access control. This technology enables access control at ski resorts to be fully integrated with the ticketing and revenue control systems, allowing validation of the lift ticket or season pass upon presentation by the skier before permitting entry to the lift. |
