NEWS
RELEASE
NEWS
RELEASE
Fargo Electronics, Inc.
Eden Prairie
,
952-941-9470, ext. 187
E-mail:
Ssmith@fargo.com
From
the U.S Department of Defense and
Fargo’s High Definition
Printing™ Chosen by Both Federal Agencies
Minneapolis,
MN (August
31, 2005) – Fargo Electronics, Inc. (NASDAQ:
FRGO), a global leader in secure technologies for card identity systems,
today announced that it has received orders for its High
Definition Card Printer/Encoders for the U.S.
Department of Defense (DoD) and the U.S. Department of State.
“We
are pleased with our ongoing business with the federal government,” said
The
DoD order includes 290 HDP600-LC laminating card printer/encoders and is
expected to ship in 2005. The order will supply printer/encoders to the National
Guard Bureau, a joint bureau of the departments of the
Army and Air Force. The
printer/encoders will be used to create ID cards for active and reserve Guard
personnel as part of the DoD’s Common Access Card program. The
The
systems integrators involved in the State Department orders include ActCom
Incorporated of
Statements
made in this release concerning the Company’s expectations about future
results or events, are “forward-looking statements”.
When used in this release and the documents referenced, words such as
“anticipate,” “believe,” “estimate,” “expect,” and
“forecast” as they relate to the Company or its management are intended to
identify such forward-looking statements, but are not the exclusive means of
identifying these statements. Such
statements are subject to the safe harbor created by the Private Securities
Litigation Reform Act of 1995, and are necessarily subject to risks and
uncertainties. Actual results may
differ materially from those reflected in these forward-looking statements.
These statements are based on current expectations, forecasts and
assumptions, and are subject to the risks and uncertainties inherent in general
industry and market conditions, general domestic and international economic
conditions, and other factors. These
risks and uncertainties include, but are not limited to: product acceptance and
customer demand for Fargo’s card personalization systems and proprietary
supplies; actions taken and alternative products marketed by Fargo’s
competitors; supplier relationships, including reliance on sole and
single-source suppliers; manufacturing or design defects that we may discover
after shipment; lack of inventories of component parts or finished goods; our
focus on the identification card personalization market; continuing
technological changes in our industry; our dependence on a distribution network
and the reaction of this network to changes in distribution programs; domestic
and international regulations and standards; our dependence on international
sales and foreign suppliers; material changes in orders placed by large end
users; challenges in effectively managing growth; our dependence on technologies
we do not own; complex design that could result in manufacturing delays;
protecting and enforcing our intellectual property rights; inadequate protection
against infringement claims; adverse economic and business conditions, including
conditions resulting from the terrorist attack on the U.S. on September 11, 2001
and the resulting hostilities and the war with Iraq.
For more detail of the risks, uncertainties and other factors that could
affect the Company’s future operations and results, see the Company’s
filings with the Securities and Exchange Commission, particularly the Annual
Report on Form 10-K for the year ended December 31, 2004.
The Company assumes no obligation to update the forward-looking
statements or any other information contained in this release.
About
Founded
in 1974, Fargo Electronics is a global leader in the development of secure
technologies for identity card issuance systems, including secure card
printer/encoders, materials and software. The company has sold more than 100,000
systems in the
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