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Strategies & Market Trends : YEEHAW CANDIDATES
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To: Sergio H who wrote (10492)8/8/2005 5:34:20 PM
From: Cary C  Read Replies (2) of 23958
 
Projected yearly revenues for year ending March 06, LCRD was projecting 34.6 million in revenues. Toward the bottom of the news release,

" The order for citizen ID cards follows the completion of two experimental phases during which LaserCard supplied more than two million cards. In May 2005, the Italian legislature decreed that paper-based citizen IDs can no longer be issued after January 1, 2006. Under the new purchase order, deliveries of cards for the citizen ID program are scheduled to be completed by LaserCard in December, 2005. The Company believes that full implementation of the citizen ID program will result in card shipments valued at approximately $40 million per year. The Italian government is currently planning for the entire adult population to have new citizen IDs within about six years. The citizen card has a five-year validity period after which the citizen will require a new card."

Am I reading this correctly, it appears that this will more than double LCRD's yearly revenue?
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