The component is used to create the Code 11 barcode symbol.
The Code 11 barcode symbology is also known as Code11, USD-8, USD8, etc. It was developed as a high-density variable-length numeric-only symbology. The symbology is discrete and is able to encode the numbers 0 through 9, and the dash symbol (-). It is used primarily in labeling telecommunications equipment. Code 11 is not terribly secure in that printing imperfections can quite easily convert one character into another valid character. Data integrity is obtained by using one, or sometimes two, check characters.