Wirecard license software from CoreCard. Description: Intelligent Systems Corp through its subsidiary provides technology solutions and processing services to the financial technology and services market referred to as the FinTech industry. Intelligent Systems has a ROE of 29% , based on the last twelve months. Company profile for Intelligent Systems Corp. including key executives, insider trading, ownership, revenue and average growth rates. View Intelligent Systems' earnings history. We do not expect the revenue from this program to be as strong going forward beginning in the fourth quarter. Good morning, everyone, and welcome to the Intelligent Systems third quarter earnings call. So you don't want to change unless you're seeing significant benefits. Let's conquer your financial goals together...faster. One is prepaid. But we'll use $1 million of it here, but it could have been stage where we could have used $5 million of it. That's such a support. The company reported $0.31 earnings per share (EPS) for the quarter. They usually call for renewal with a six to 12 month notice. The Wirecard business also took a big hit as a result of the COVID pandemic, since many of their programs customers use the cards for the multi-currency travel. Thank you, everyone. So we're not a good match for some. All rights reserved. The components of our revenue for the third quarter consisted of license revenue of $1,600,000, professional services revenue of $5,392,000, processing and maintenance revenue of $2,950,000 and third-party revenue of $362,000. Every potential customer does not recognize the value of the experienced relationship and accuracy CoreCard provides. There problems were almost exclusively in their acquiring businesses not in the issuing business, which is what we do. If you're thinking about not renewing, you usually start a year out in serious discussions with others because you want to have your new plan in place at the time of notice. Going back to [Indecipherable] Well, you don't do them without significant benefits because they have significant risk. Intelligent Systems had a net margin of 26.64% and a return on equity of 24.36%. model existent in INs (intelligent networks). We think this demonstrates the strength of our business model and our strong financial position amid a challenging environment. I assume you've all read the press release posted this morning. Maybe that's a good segue to again emphasize how long it takes to bring or convert programs from another processor. The total purchase price is expected to be around $1 million. [Operator Instructions]. INS: Intelligent Systems Corporation Detailed Estimate. (Updated on November 23, 2020) Buy or Hold candidate since 2020-11-20 Gain 1.12% PDF . We've been discussing taking over their issuing business in the APAC area for several months, but it's a complicated process with all of the banking and regulator licensing required in each country. We will choose customers strategically in order to be able to do that and not take business where we think it's not good for both of us. The investments we've made will enable us to take on additional processing customers in 2021 and beyond, leading to sustainable growth. Returns as of 12/12/2020. There is two components of it. We certainly want to find a good use for it, but we're just not going to be led down the path of paying too much for things. We want to thank everyone for being able to call. And now I'd like to provide a quick update on liquidity position. It's just a big number, but it will be slow. For a good number of years, we've operated what is known as APAC, the Asia Pacific region of the world, through our issuing license [Phonetic] Wirecard. Let me make one other comment on that. We believe there is room for that in some of the larger countries there, and we also believe that there'll be a lot of new things happening in places like Saudi Arabia, UAE and other places as they in some ways, they're ahead of us for prepaid, in some ways they're behind us in terms of unique credit programs. Intelligent Systems Corp Stock Downgraded (INS) By Kevin Baker. Intelligent Systems Corp. 4355 Shackleford Road. And I also said that we -- I think our hope that measures and suggestions put in place would be bringing the impact down by this point, but it doesn't appear to have happened. So we've got the cash to take advantage of,opportunity and we're not trying to bank it. Again, the larger programs longer term contracts call for 12 months. It is a prepaid product. Intelligent Systems Corp. engages in the management of emerging technology companies. If you fail to -- if you give notice, but fail to get off the program, there are significant higher prices to be paid for processing by carrying over. Thank you. We expect approximately 50 employees to join us initially, and we'll add others as the business evolves. How should investors think about the size of that opportunity? INS: Intelligent Systems Corporation - Full Company Report. So think of it as we do, it's an investment. We believe these new locations and people will allow us to enter new markets and further expand our offerings on the CoreCard platform. There are no further questions at this time. I expect more new things there than conversions in that area. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. And the other is, credit. Just note that we do list the factors that might cause actual results to differ from our comments and speculation in our latest SEC filings that included the latest filed this morning. INS - Intelligent Systems Corp. INS is not currently paying a regular dividend. Intelligent Systems Schedules First Quarter 2020 Earnings Release And Conference Call. Wallace Weitz Tones Down Intelligent Systems Stake - GuruFocus: 1M ago: Intelligent Systems Corporation (INS) CEO James Strange on Q3 2020 Results - Earnings Call Transcript - Seeking Alpha: 1M ago: Intelligent Systems Reports Third Quarter 2020 Results - GlobeNewsWire: 1M ago If you could talk a little bit about your thinking about the potential for using a portion of that cash for M&A or would you like to just stand pat and continue to accumulate more cash? The company reported $0.31 earnings per share (EPS) for the quarter. INTELLIGENT SYSTEMS CORPORATION : News, information and stories for INTELLIGENT SYSTEMS CORPORATION | Nyse MKT: INS | Nyse MKT So as far as the Wirecard situation, we are opening a new office in Dubai, UAE. ET. And with the Wirecard bankruptcy, Kabbage stopping making loans after the payroll protection period and a lot less license revenue this year, and I guess adding lifting times for discussions for new programs, we'll probably end up down for the year some compared to last year, but just a little as we almost filled all of those holes with other business. We don't really feel the need to quantify in dollars because of how large it is. I'll remind you that our comments will include forward-looking statements, but I can assure you that none of the forward-looking statements will try to predict the results of the presidential election tonight. It's one of these things where I think people know we're fairly conservative. Aug-27-19 08:55PM : View the latest Intelligent Systems Corp. (INS) stock price, news, historical charts, analyst ratings and financial information from WSJ. You're probably all well aware of the Wirecard collapse. Income from operations was $3,481,000 for the third quarter of 2020 compared to income from operations of $4,200,000 for the same time last year, resulting in an operating margin of 34% compared to an operating margin of 44% for the same time last year. Our forward-looking statements will consist of our best guess of what will be happening within our company. Intelligent Systems Corporation [NYSE American: INS, www.intelsys.com], the leading provider of innovative credit technology solutions and processing services to the … INVESTOR ALERT - Intelligent Systems Corporation (INS) - Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action and Lead Deadline: September 9, 2019. Matt White -- Chief Financial Officer and Corporate Secretary. I would expect it to be cost, well, let's say, accretive in the normal sense of the word in the next 12 to 18 months, but in the meantime, it is going to impact our margins. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Looking out to 2021 and assuming pandemic has stabilized or perhaps gets a little better, but I'm not expecting anything big, I expect 2021 to be a pretty good year for us with most of the pick-up coming in the second half. Now , it is becoming clear that future sophisticated services breaking away from the simple telephony call model, e.g., multimedia, multi-party View today's stock price, news and analysis for Intelligent Systems Corp. (INS). [Operator Instructions] Your first question comes from Mark Palmer with BTIG. Buy Intelligent Systems Corp stock (INS). Good morning, everyone. We have a mask optional policy in the offices. I guess that means we can now count AMEX as a customer. This is monitored and we may not respond to every question, but you can always check with us individually if need more information, and if it's the time we can provide. I expect the numbers to pretty much to align with what we've been saying when you bring the whole second half of the year together and once the second half of the year has concluded. The current processor who is one of the largest in the area, uses VisionPLUS. Intelligent Systems Corporation (INS) CEO James Strange on Q3 2020 Results - Earnings Call Transcript - Seeking Alpha 1M ago Intelligent Systems Reports Third Quarter 2020 Results - GlobeNewsWire There are enough high quality programs with experienced teams who understand the value of the CoreCard offerings that will allow CoreCard to grow much larger in the next few years just working with these quality companies. Market data powered by FactSet and Web Financial Group. So there's a lot of work to do. The company’s principal operations are CoreCard Software, Inc. and its affiliate companies. CoreCard provides prepaid and credit card processing services using its proprietary software solutions that it also licenses to others. Results were a little better than expected, as I said, for the quarter due to the license revenue that I had initially expected to come in in the fourth quarter. I'll turn it over to Matt White, our CFO, now to go through the numbers and give us his thoughts. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright 2019© Refinitiv. As Leland noted, we slightly outperformed our third quarter expectations, specifically with the license revenue. Revenue for the third quarter of 2020 was $10,304,000 compared to revenue for the third quarter of 2019 of $9,522,000, an increase of 8%. We have now opened our office in Dubai and have made offers to many current Wirecard employees to join us and to continue to offer the services to current Wirecard customers, and we've done this all with the help and assistance of Wirecard. Cryptocurrencies: Cryptocurrency quotes are updated in real-time. Stay up to date with Intelligent Systems Corp stock news. Get the latest Detailed Estimate from Zacks Investment Research. Initially, we'll be emphasizing the prepaid product. Shorter term call for six months. The last two calls we discussed how the current pandemic economic disruption affects our business. PR Newswire. I guess I've already digressed and began talking about the future, and that's what happens when you don't use full scripts on these calls. During the day the stock fluctuated 4.41% from a day low at $35.34 to a day high of $36.90. Additionally, our employees in India have been required to work remotely since mid-March. No. May 7, 2014 11:11 AM EDT. The Intelligent Systems Corp stock price gained 1.12% on the last trading day (Monday, 23rd Nov 2020), rising from $38.28 to $38.71. Smaller programs are in the five years. ... INS Profile. Similar to Q2, our processing revenue benefited from a new one-time program offering by a large customer, but not our largest, related to government stimulus efforts. Intelligent Systems Corporation is engaged in the business of providing technology solutions and processing services to the financial technology and services market. So let's just go and look out to the next few months. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. Additionally, we do not expect any additional revenues from our former customer Wirecard in 2020, and have only recognized to date amounts that have been paid or our probable being paid. Sources: FactSet, Dow Jones, Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. We're not willing to throw a lot of money buying a business out there. See you at the top! I'm not going to count on the same kind of multiples everybody has forever. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. We're committed, and it's important to recognize that it would take an investment, both in time and currency to develop this market. Turning to results for the third quarter. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. That also means that you actually start to have discussions even a year before that notice period. If you could talk a little bit about what your thinking is with regard to the size of the addressable market associated with the company's international expansion, keeping in mind as you said that it's going to take some time before that effort begins to move the needle in terms of the company's operating performance. But right now, I can't find those. You've heard me say probably more than once that we offer a premium product at a premium price. As we said in other industries, prepare yourself in hours, quality is value and you get what you pay for. Intelligent Systems Schedules First Quarter 2020 Earnings Release And Conference Call. Intelligent Systems Corp through its subsidiary provides technology solutions and processing services to the financial technology and services market referred to as the FinTech industry. Change value during the period between open outcry settle and the commencement of the next day's trading is calculated as the difference between the last trade and the prior day's settle. Turning to some additional highlights on our income statement for the third quarter of 2020. In every case, we are only going to accept business that we're certain deliver for the customer with exceptional service. Hi, thanks. If I were to draw a number, I'd be saying it's $1 billion or more. Read the latest StockTalks, investment ideas, and community discussion on Intelligent Systems Corporation (INS). And we have high hopes for it, but I don't see any big numbers for 18 months, two and three years out. However, we're encouraged that to date, we've been able to maintain key functions and business continuity in addition to delivering excellent service to our customers, as reflected in our strong professional services revenue for the quarter. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Intelligent Systems Corporation (NYSEMKT:INS). Since the announcement of Wirecard bankruptcy, many of their customers have made alternative arrangements. Basic Chart, Quote and financial news from the leading provider and award-winning BigCharts.com. For over thirty-five years, Intelligent Systems Corporation [NYSE American: INS] has identified, created, operated and grown technology companies. Intelligent Systems Corp Stock Downgraded (INS) By Kevin Baker. View detailed INS description & address. I'm continuously reminding investors that quarter-to-quarter comparisons don't tell our story as we manage year-to-year. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. The impact of the COVID-19-related economic slow down continue to be muted for the third quarter of 2020. They successfully sold their company to American Express, and our contract has been assigned to AMEX. Intelligent Systems Co. (NYSE:INS) released its earnings results on Tuesday, November, 3rd. FactSet (a) does not make any express or implied warranties of any kind regarding the data, including, without limitation, any warranty of merchantability or fitness for a particular purpose or use; and (b) shall not be liable for any errors, incompleteness, interruption or delay, action taken in reliance on any data, or for any damages resulting therefrom. And then third, finally, the important ingredients we have in place for continued steady long-term growth. Get the latest Intelligent Systems Corporation (INS) stock news and headlines to help you in your trading and investing decisions. I think the third quarter is probably pretty well understood by investors, so I'm going to take the rest of the time to address three areas. Longer term, we believe the investments we made this year will yield new customer opportunities and future revenue growth. Matt White, our CFO, picked the date for the call, and I'm not sure whether there was any relevance to the fact it was election day or not. May 7, 2014 11:11 AM EDT. I don't know what future business will look like with AMEX. Intelligent Systems Corporation (NYSE American: INS) announced that its shareholders elected Elizabeth W. "Betsy" Camp to serve as an independent Director of the Company. Data may be intentionally delayed pursuant to supplier requirements. Find real-time INS - Intelligent Systems Corp stock quotes, company profile, news and forecasts from CNN Business. The newer employees, and we have a different definition when we talk about newer employees. & Futures: Futures prices are delayed as per exchange requirements talked, we have a good match some... Ceo of intelligent Systems had a net margin of 26.64 % and 24 % provided by FactSet % and %. 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