Intelligent Systems Business Update
11 Enero 2021 - 6:30AM
Intelligent Systems Corporation [NYSE American: INS], the leading
provider of innovative credit technology solutions and processing
services to the financial technology and services market, announced
today that a major customer has reached another license tier ahead
of expectations continuing the strong demand from the third quarter
of fiscal 2020. The Company also announced that it will be
participating in the Sidoti Winter 2021 Investor Conference on
January 13, 2021.
For the fourth quarter of fiscal 2020, the
Company now expects to recognize license revenue of approximately
$2 million which is comparable to the 2020 third quarter license
revenue. When final numbers are reported in February, the full 2020
year is now expected to show continued year-over-year growth. As a
result of capturing license revenue in the fourth quarter of 2020,
the Company no longer expects to recognize license revenue in the
first quarter of fiscal 2021.
Looking ahead, the Company still projects, from
customer work currently in progress, additional significant license
revenue in the second half of fiscal 2021.
“We are pleased to achieve this new level of
license revenue ahead of expectations,” said Leland Strange, CEO of
Intelligent Systems. “The timing of our license revenue can be
difficult to predict as customers progress toward achieving new
revenue tiers over time. We are very pleased with our 2020
performance as we overcame the challenges posed by COVID-19 to our
workforce in addition to the insolvency of a large customer. We are
confident in our ability to continue our growth in the new year as
we leverage the infrastructure investments we made in 2020.”
Sidoti Winter Conference
Participation
The Company also announced today that Chief
Executive Officer, Leland Strange, and Chief Financial Officer,
Matt White, will present at the Sidoti Winter 2021 Investor
Conference on January 13, 2021 at 9:15 a.m. ET.
This presentation will be webcast and available
at the following link:
https://sidoti.zoom.us/webinar/register/WN_V4smiBHXSq-FAnZ5n54leQ
About Intelligent Systems
CorporationFor over thirty-five years, Intelligent Systems
Corporation [NYSE American: INS] has identified, created, operated
and grown technology companies. The company’s principal operations
are CoreCard Software, Inc. (www.corecard.com) and its affiliate
companies. CoreCard provides prepaid and credit card processing
services using its proprietary software solutions that it also
licenses to others. CoreCard has designed and developed a
comprehensive suite of software solutions that corporations,
financial institutions, retailers and processors use to manage
credit and debit cards, prepaid cards, private label cards, fleet
cards, loyalty programs, and accounts receivable and small loan
transactions. CoreCard's flexible and proven processing platform is
being utilized in many countries in addition to the United States
including Australia, Canada, China, the United Arab Emirates,
France, Italy, Mexico, New Zealand, Singapore, South Africa and the
United Kingdom. Further information is available on the company’s
website at www.intelsys.com or by calling the company at
770-381-2900.
For further information, callMatt White, 770-564-5504 or email
to matt@intelsys.com
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