Passport production brings L-1 $195 million
The latest in a string of biometric contracts brings the Stamford, Connecticut company $195 million deal to provide the U.S. Department of State with a high-security production system for e-passports
May be running L-1 Identity Solutions Inc. is not quite the same as having a license to print money, but it is not that far off, either (see 1 October 2009 HSNW). The company reports it has landed yet another contract — this time a contract worth a potential $195 million from the U.S. Department of State to provide production systems for passports.
Under the deal, Trans Digital Technologies Corp. (TDT), a subsidiary of L-1 Identity Solutions (NYSE: ID), will continue to provide high-security production systems to make U.S. passports for the 22 agencies under the State Department’s Bureau of Consular Systems and Technology Directorate. The deal has a one-year base with four option years.
TDT will also provide security products, technical support and maintenance for the passport systems.
Last week, Stamford, Conn.-based L-1 brought in $6.2 million for mobile biometric recognition devices from an unidentified customer. Under the contract, L-1’s biometrics division will provide its Hand-held Interagency Identity Detection Equipment (HIIDE) to an unnamed client who plans to use the devices in areas of conflict.
L-1 reported a 2008 net income of $12.3 million on revenue of $562.9 million.
