(By Balaseshan) Printer maker Lexmark International Inc. (NYSE:LXK) said it has received a $21 million printing technology contract from the the Federal Aviation Administration (FAA).
Lexmark has been awarded a five-year (one base year and four one-year options) contract valued at $21 million that will make it the sole provider of printing technology to the FAA.
Lexmark said it would utilize its proven track record in optimizing heavily distributed printing environments to bring greater efficiency, user productivity and cost reductions to more than 900 FAA locations across the U.S.
Additional agencies within the U.S. Department of Transportation can also take advantage of this contract to access Lexmark's innovative products and solutions for improved output infrastructures.
Lexmark technology will support the stringent printing and scanning security requirements set forth by the federal government to protect confidential information.
The FAA will have greater control over its documents by using Personal Identity Verification (PIV) cards to access print, copy, scan and fax features through Lexmark's secure Print Release.
Lexmark's secure Print Release is a solution that is integrated into the company's smart workgroup printers and multifunction products (MFPs) for strong user authentication, data security and information assurance.
The FAA will also gain increased visibility to its output fleet through Lexmark's award-winning Markvision Enterprise fleet management tool.
This Web-based remote management software allows IT administrators to proactively monitor printer fleets from a central location in order to collect valuable information and troubleshoot devices effectively to minimize downtime.
LXK is trading up 0.51% at $25.68 on Friday. The stock has been trading between $24.50 and $38.34 for the past 52 weeks.