Norcross, GA, July 10, 2019 –(PR.com)– Intelligent Systems, (NYSE American: INS), today announced that as part of the annual reconstitution of the Russell stock indexes, it is now included in the Russell 2000® Index, the Russell Microcap® Index and the broad-market Russell 3000® Index.
Intelligent Systems’ (www.intelsys.com) principal operations are CoreCard Software, Inc. (www.corecard.com) and its affiliate companies. CoreCard Software is the worldwide leader in credit card System of Record (SOR) applications for mobile wallets and a leading provider of card management systems and processing services for some of the largest enterprises in the world. CoreCard Software designs, develops and markets an innovative comprehensive suite of software solutions to corporations, financial institutions, retailers and processors to manage credit and debit cards, prepaid cards, private label cards, fleet cards, loyalty programs and accounts receivable and small loan transactions.
“We are pleased to be added to the Russell 2000® and the Russell 3000® Indexes,” said Leland Strange, Chairman and CEO of Intelligent Systems. “It’s a reflection of our leadership via our white label clients in the credit card processing and mobile credit card apps. We believe our inclusion will increase our exposure with a broader group of institutional investors and represents another important milestone for us after the significant growth achieved in 2018 and so far in 2019.”
The company previously reported first quarter 2019 revenues of $6,966,000 and income from operations of $2,605,000 that was significantly higher than the 1st quarter of 2018 for both revenue and operating profit. Mr. Strange commented in the earlier release that “the first quarter was a good start to what we believe will be a very good year for the company as we continue toward our path of becoming a world class processor. In addition to our ongoing and growing repeating revenues, we will probably see a nice uptick in license revenue at some point in the year.”
Russell US Indexes are widely used by investment managers and institutional investors as the basis for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell, a leading global index provider.
About Intelligent Systems Corporation:
For 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 designs, develops, and markets a comprehensive suite of software solutions to corporations, financial institutions, retailers and processors to manage credit and debit cards, prepaid cards, private label cards, fleet cards, loyalty programs, and accounts receivable and small loan transactions. CoreCard also offers prepaid and credit card processing services using its proprietary software solutions. CoreCard’s flexible and proven processing platform has recently been deployed 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.
In addition to historical information, this news release may contain forward-looking statements relating to Intelligent Systems Corporation and its subsidiary and affiliated companies. These statements include all statements that are not statements of historical fact regarding the intent, belief or expectations of Intelligent Systems Corporation and its management with respect to, among other things, results of operations, product plans, and financial condition. The words “may,” “will,” “anticipate,” “believe,” “intend,” “expect,” “estimate,” “plan,” “strategy” and similar expressions are intended to identify forward-looking statements. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. The company does not undertake to update or revise any forward-looking statements whether as a result of new developments or otherwise, except as required by law. Among the factors that could cause actual results to differ materially from those indicated by such forward-looking statements are instability in the financial markets, delays in product development, undetected software errors, competitive pressures, changes in customers’ requirements or financial condition, market acceptance of products and services, the impact of new or changes in current laws, regulations or other industry standards, risks relating to unauthorized access to confidential information due to criminal conduct, attacks by hackers, employee or insider malfeasance and/or human error and declines in general economic and financial market conditions, particularly those that cause businesses to delay purchase decisions.
Matthew A. White, Chief Financial Officer
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