Viisage (NASDAQ:VISG)
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Viisage (Nasdaq: VISG), a leading provider of advanced
technology identity solutions, today announced that the Departments of
Transportation/Motor Vehicles in Pennsylvania, Wisconsin, Maryland and
Arkansas have awarded new contracts or extensions to the company for
innovative solutions to help provide security in the states' driver's
licensing processes and procedures required of the federal REAL ID
Act. The contract awards total more than $48 million and vary in
length from six months to over seven years.
The contracts recently awarded to Viisage include key wins from
major US states:
-- The Pennsylvania Department of Transportation (PennDOT)
awarded Viisage $45.5 million in contracts. The contracts
augment and strengthen the existing technology and solution to
further secure the drivers' licensing process.(a)
-- The Wisconsin Department of Transportation awarded Viisage a
$500,000 contract to implement automated document
authentication to vet claimed identities prior to issuing
valid driver's licenses. Wisconsin has been a customer since
1997 and in 2005 awarded the company a $7.5 million contract
for issuance of driver's licenses and ID cards.
-- The Arkansas Department of Finance and Administration awarded
Viisage a $2 million contract extension to continue the
state's secure driver's licensing program. This extension
follows the 1999 contract award and subsequent extensions
which totaled $15 million.
-- The Maryland Department of Motor Vehicles awarded Viisage a
$300,000 services extension on the contract Viisage won in
1999 for a secure driver's license solution. Awards and
extensions from Maryland to date total over $9 million.
"We look forward to our ongoing partnership with Viisage as we
move ahead with continued improvements to ensure the security of
PennDOT's driver licensing products," said Betty Serian, Deputy
Secretary for Safety Administration, PennDOT.
"These significant wins exemplify our leadership position in the
marketplace, as we provide a myriad of solutions to help the states
combat identity theft and fraud and comply with the REAL ID Act," said
Bernard Bailey, president and CEO of Viisage.
Driver's licenses and IDs produced by the states in the U.S.
continue to be important identity documents in personal transactions
such as banking and travel. In May 2005, the Real ID Act was passed,
challenging states to increase security in select identity documents
and provide a means for interstate verification of an applicant's
identity. Viisage provides a variety of end-to-end identity products,
services and solutions to the driver's license marketplace for these
initiatives, including the following: designing and developing secure
driver's license and ID solutions; examining and verifying an identity
prior to issuing a secure credential; automating document
authentication for identity verification; detecting individuals
suspected of identity theft or fraud; providing biometrics such as
face recognition and fingerprint technologies for uniquely tying
individuals to their identity documents and for investigation; and
reconciling duplicate database records.
(a) Includes the seven-year extension previously announced on
Viisage's quarterly earnings call on May 15, 2006
About Viisage
Viisage (NASDAQ: VISG) delivers advanced technology identity
solutions for governments, law enforcement agencies and businesses
concerned with enhancing security, reducing identity theft, and
protecting personal privacy. Viisage solutions include secure
credentials such as passports and drivers' licenses, biometric
technologies for uniquely linking individuals to those credentials,
and credential authentication technologies to ensure the documents are
valid before individuals are allowed to cross borders, gain access to
finances, or be granted other privileges. With more than 3,000
installations worldwide, Viisage's identity solutions stand out as a
result of the company's industry-leading technology and unique
understanding of customer needs. Viisage's product suite includes
IdentityTOOLS(TM) SDK, Viisage PROOF(TM), FaceEXPLORER(R),
iA-thenticate(R), ID-GUARD(R), BorderGuard(R), PIER(TM), HIIDE(TM),
AutoTest(TM), FacePASS(TM) and FaceFINDER(R).
This news release contains forward-looking statements that involve
risks and uncertainties. Forward-looking statements in this document
and those made from time to time by Viisage through its senior
management are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements reflect the Company's current views with
respect to the future events or financial performance discussed in
this release, based on management's beliefs and assumptions and
information currently available. When used, the words "believe",
"anticipate", "estimate", "project", "should", "expect", "plan",
"assume" and similar expressions that do not relate solely to
historical matters identify forward-looking statements.
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 size and timing of
contract awards, performance on contracts, performance of acquired
companies, availability and cost of key components, unanticipated
results from audits of the financial results of the Company and
acquired companies, changing interpretations of generally accepted
accounting principles, outcomes of government reviews, developments
with respect to litigation to which we are a party, potential
fluctuations in quarterly results, dependence on large contracts and a
limited number of customers, lengthy sales and implementation cycles,
market acceptance of new or enhanced products and services,
proprietary technology and changing competitive conditions, system
performance, management of growth, dependence on key personnel,
ability to obtain project financing, general economic and political
conditions and other factors affecting spending by customers, and the
unpredictable nature of working with government agencies. In addition,
such risks and uncertainties include, among others, the following
risks: that the merger with Identix will not close, that the
regulatory or shareholder approval will not be obtained, that the
closing will be delayed, that customers and partners will not react
favorably to the merger, integration risks, the risk that the combined
companies may be unable to achieve cost-cutting synergies, and other
risks described in Viisage's and Identix' Securities and Exchange
Commission filings, including the Registration Statement on Form S-4
filed with the SEC in connection with the transaction, Viisage's
Annual Report on Form 10-K for the year ended December 31, 2005 and
its Quarterly Report on Form 10-Q for the quarter ended March 31, 2006
under the captions "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations," and
Identix' Annual Report on Form 10-K for the year ended June 30, 2005
and its Quarterly Reports on Form 10-Q for the quarters ended
September 30, 2005, December 31, 2005 and March 31, 2006 under the
captions "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations." Viisage expressly
disclaims any obligation to update any forward-looking statements.