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Insignia Systems, Inc. Announces A Profitable Fourth Quarter

Chairman and CEO Scott Drill commented, “Although the results from our fourth quarter are modest, we are pleased to announce our second consecutive profitable quarter. While there was a loss for the year, that loss was curtailed after Q2, and the more recent results show that we can be profitable at lower revenue levels.”

President and COO Glen Dall commented. “While we have worked this past year to achieve increases in revenues each quarter over the previous year, we have also worked to continually improve on the cost side of our business. We were able to achieve our second straight quarter of profitability, and I applaud our entire organization for that success.

“We are seeing signs of increased CPG spend in the marketplace, and our sales momentum for 2013 appears to be good. Our first quarter bookings are strong at $6.8 million; however, second quarter bookings are fairly soft at the present time. That said, total bookings between first and second quarter of 2013 are at a level in which we are cautiously optimistic about the results for the year.

“We also have positive news on the retail front, with the addition of nearly 600 stores to our available network that are scheduled to come online between now and July. These additions will increase our available network to over 22,000 stores. We believe that these early retail store additions should help our sales force gain incremental revenue.

“In other areas, we are talking with additional retailers to roll-out our digital coupon-to-card signage to increase the number of retailers that we have in the program. We have recently launched the first phase of our new website, and we continue to work on new product development and cost containment.”

Selected Financial Information

CFO John Gonsior stated, “Our balance sheet remains strong, with $20,271,000 of cash and cash equivalents as of December 31, 2012, which is an increase over the cash and cash equivalents as of September 30, 2012 of $19,774,000. As of December 31, 2012, we have over $21.8 million in working capital, which is also an increase over the working capital as of September 30, 2012 of $21.3 million. As noted by the non-GAAP information provided, we have continued to improve our non-GAAP financial results year-over-year.”

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