This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Intelligent Systems Reports Second Quarter And YTD 2010 Profit

NORCROSS, Ga., Aug. 12, 2010 (GLOBE NEWSWIRE) -- Intelligent Systems Corporation (NYSE Amex:INS) ( www.intelsys.com) announced today its financial results for the three and six month periods ended June 30, 2010.

For the second quarter ended June 30, 2010, the company recorded net income of $298,000 compared to a net loss of $(177,000) in the second quarter of 2009. Basic and diluted earnings per share were $0.03 in the three month period ended June 30, 2010 compared to basic and diluted loss per share of $(0.04) in the same period in 2009. For the six month period ended June 30, 2010, the company reported net income of $383,000 or $0.04 per basic and diluted share compared to a net loss of $(839,000), or $(0.19) per basic and diluted share.

Net revenue for the second quarter of 2010 was $4,608,000, an increase of 48 percent compared to the second quarter of 2009. For the six month period ended June 30, 2010, net revenue was $8,305,000, an increase of 40 percent over the comparable period in 2009. The company's ChemFree subsidiary reported strong sales of both SmartWasher® machines and consumable supplies in both domestic and international markets. In addition, the company's CoreCard Software subsidiary continued to expand its product capabilities and customer base and reported an increase in license and service revenue in both the second quarter and year-to-date periods due to a growing number of customers.

J. Leland Strange, president and chief executive officer of the company, commented, "ChemFree continues to produce excellent results with good sales momentum and makes a strong profit contribution to our consolidated results.  In the first half of 2010, CoreCard completed its first international implementation and first significant customer conversion from a national processor.  Software implementations may have significant activity over several quarters but license revenue is generally not recognized until completion of a project. Even though we reported a profit for the second consecutive quarter, it is not necessarily indicative of a trend due in part to the way we recognize revenue on project completions. Our consolidated financial results are not likely to be smooth or predictable on a quarterly basis until CoreCard has a larger base of recurring revenue."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
INS $2.80 0.00%
AAPL $113.29 0.00%
FB $91.01 0.00%
GOOG $630.38 0.00%
TSLA $248.48 0.00%

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs