Revenues for the fourth quarter of fiscal 2009 were USD 14.7 million, compared with USD 10.9 million in the prior quarter and USD 7.3 million in the same quarter a year ago. The GAAP net income for the fourth quarter of fiscal 2009 was USD 944,000, or USD 0.08 per diluted share, compared with a GAAP net loss of USD 849,000 or (USD 0.07) per diluted share in the prior quarter, and a GAAP net loss of USD 3.3 million, or ($USD 0.27) per diluted share, in the same quarter a year ago.

"Fiscal 2009 was a year of improving financial results for LaserCard," said Robert DeVincenzi, president and chief executive officer. "Full year revenues grew 34% over the prior year, reflecting the ramp-up of several major ID card programs, the expansion of our business into Africa and the initial contribution from the new Enabling Services component of our ID solutions offering. We also made important innovations related to our core technology and credentialing solutions. Among other enhancements, we are now delivering a broad set of contact and contactless technologies in combination with optical memory.

"Finally, our success in tuning LaserCard's cost model has reduced manufacturing costs and improved production efficiencies, strengthening the company's competitiveness as we enter fiscal 2010," continued DeVincenzi.