Intelligent Systems Reports Q4 Results

Intelligent Systems (NYSE American:INS), a company who owns a portfolio of technology companies, including CoreCard Software announced fourth quarter results ending December 31st, 2018. Total revenue for the quarter was over $6 million, a 119 percent increase year-over-year. Fourth quarter net income figures stood at almost $2.5 million, a significant increase from last years fourth quarter net loss of $650,000.

As quoted in the press release:

“We are reporting good results from licensing and professional services activity for the fourth quarter, continuing the progress shown in the three previous quarters of the 2018 year. Even though results were very good in comparison with the previous years’ quarter, I am going to be a ‘broken record’ by emphasizing we manage to, and I think we are best measured because of our enterprise size, on an annual basis rather than quarter to quarter,” commented Leland Strange, CEO of Intelligent Systems. “There may very well be quarters in 2019 where we don’t compare favorably,” continued Strange, “but we expect our 2019 full year to be nicely up from 2018 in both revenues and operating profit.”

“We continue to add resources to our team and they continue to work long hours on significant long-term projects for several customers – both licensing and processing customers. We also continue to invest in the expansion of our processing capabilities and hardening of our platforms for both our own use and for our licensing customers. Recently, our solution has been introduced and utilized in several new international geographic areas including China,” stated Strange.

Click here to view the full press release.