This Day On The Street
Continue to site
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 Announces Second Quarter And YTD Results

NORCROSS, Ga., Aug. 14, 2013 (GLOBE NEWSWIRE) -- Intelligent Systems Corporation (NYSE MKT:INS) [] announced today its financial results for the three and six month periods ended June 30, 2013.

For the three month period ended June 30, 2013, Intelligent Systems reported net income attributable to Intelligent Systems of $419,000 ($0.05 per basic and diluted share) compared to a net loss attributable to Intelligent Systems of $17,000 ($0.00 per basic and diluted share) in the second quarter of 2012. Total revenue in the second quarter of 2013 was $4,166,000, three percent higher than revenue of $4,032,000 recorded in the same quarter of 2012.

For the six month period ended June 30, 2013, net income attributable to Intelligent Systems was $559,000 ($0.06 per basic and diluted share) compared to a net loss of $11,000 ($0.00 per basic and diluted share) in the comparable period in 2012. Total revenue for the six month period in 2013 was $8,252,000, two percent higher than revenue of $8,126,000 in the first half of 2012.

J. Leland Strange, President and Chief Executive Officer, stated, "Our ChemFree subsidiary had another profitable quarter, although revenue from sales of its SmartWasher® machine was lower in 2013 than in the same period in 2012. The shortfall was due in large part to shortages of a key component of its best selling parts washer model that resulted in a backlog of orders that could not be filled until July."

"In both the quarter and year-to-date periods, our CoreCard subsidiary reported over 25 percent growth in revenue from services, including software customization, maintenance/support activities and processing services as well as a small increase in software license revenue (which is included in product revenue in our income statement). We continue to invest substantial resources to develop our processing services business and enhance our financial transaction software solutions for prepaid, fleet and private label cards, which we believe will build long long-term value despite a negative impact on our current financial results."

1 of 2

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs