Our cash balance at September 30, 2020 was $34,391,000 compared to $26,415,000 at December 31, 2019, a significant increase in 2020. We have just begun to bring back a few employees to our [Indecipherable] office, while the Mumbai office employees continue to work from home. Intelligent Systems Corporation [NYSE American: INS, www.intelsys.com], the leading provider of innovative credit technology solutions and processing services to the … CoreCard provides prepaid and credit card processing services using its proprietary software solutions that it also licenses to others. I'm not going to count on the same kind of multiples everybody has forever. INS is a leading provider, for manufacturing and industrial clients, with best-in-class solutions to improve overall business performance. The total purchase price is expected to be around $1 million. It's just a big number, but it will be slow. Today, I have no idea how many current customers will immediately move to CoreCard. [Operator Instructions] Your first question comes from Mark Palmer with BTIG. So we've got the cash to take advantage of,opportunity and we're not trying to bank it. Intelligent Systems had a net margin of 26.64% and a return on equity of 24.36%. View detailed INS description & address. Contents: Prepared Remarks; Questions and Answers; … And our family is all of our CoreCard employees and their families. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. See Intelligent Systems Corp real time stock price, historical quotes and price charts. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. Intelligent Systems Corp. company facts, information and financial ratios from MarketWatch. The last two calls we discussed how the current pandemic economic disruption affects our business. Invest in Intelligent Systems Corp … The Intelligent Systems Corp stock price gained 1.31% on the last trading day (Friday, 13th Nov 2020), rising from $35.88 to $36.35. Please go ahead. 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. No mandate, but encouraged common sense, respect and courtesy in interactions. Get the latest Full Company Report for Intelligent Systems Corporation from Zacks Investment Research For the next year, we have the resources for more than one, maybe two or three. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. How should investors think about the size of that opportunity? They successfully sold their company to American Express, and our contract has been assigned to AMEX. You've heard me say probably more than once that we offer a premium product at a premium price. I appreciate your interest in the company. Intelligent Systems Corp (INS) Q2 2020 Earnings Call Transcript INS earnings call for the period ending June 30, 2020. See you at the top! We do not expect the revenue from this program to be as strong going forward beginning in the fourth quarter. So we're not a good match for some. Hi, thanks. A year ago, we said we expected 2020 to be just a little better than 2019, I guess, a little better or little worse, but about the same, as we're going to use the year to get ready for faster growth. 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. Not having the former ability to encourage interactions, does slow things down in the office though, in my opinion. 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 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. INVESTOR ALERT - Intelligent Systems Corporation (INS) - Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action and Lead Deadline: September 9, 2019. Every potential customer does not recognize the value of the experienced relationship and accuracy CoreCard provides. By way of learning-by-doing, we'll look at ROE to gain a better understanding of Intelligent Systems Corporation (NYSEMKT:INS). We don't expect to be able to fully replace these impacts for the fourth quarter. It provided a very flexible, multi-currency wallet as a prepaid currency and for virtual card transactions. The impact is not large and doesn't keep us from making progress, but it definitely impacts us. Matt White -- Chief Financial Officer and Corporate Secretary. Additionally, our employees in India have been required to work remotely since mid-March. The price has fallen in 6 of the last 10 days and is down by -4.14% for this period. They wanted to build uniqueness in many areas of their business, and CoreCard played an important role in being the system of record, keeping up with the complicated and ever evolving futuristic program offerings. We think this demonstrates the strength of our business model and our strong financial position amid a challenging environment. It is a prepaid product. 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. Intelligent Systems Co. (NYSE:INS) released its earnings results on Tuesday, November, 3rd. Cumulative Growth of a $10,000 Investment in Stock Advisor, Intelligent Systems Corp (INS) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $INS, Forget Big Tech, These 3 Tech Stocks Are Better Buys Right Now, Intelligent Systems Corp (INS) Q2 2020 Earnings Call Transcript, Intelligent Systems Corp (INS) Q1 2020 Earnings Call Transcript, Copyright, Trademark and Patent Information. Again, it's the long view, so I wish we could plan swapping that we could put $10 million to $15 million at that would be accretive within the next year. ET, Ladies and gentlemen, thank you for standing by, and welcome to the Intelligent Systems Corporation Earnings Release and Investors Conference Call. INS: Intelligent Systems Corporation - Full Company Report. We expect approximately 50 employees to join us initially, and we'll add others as the business evolves. View the latest Intelligent Systems Corp. (INS) stock price, news, historical charts, analyst ratings and financial information from WSJ. It's one of these things where I think people know we're fairly conservative. Intelligent Systems Corp Stock Downgraded (INS) By Kevin Baker. Since the announcement of Wirecard bankruptcy, many of their customers have made alternative arrangements. Intelligent Systems Corporation is engaged in the business of providing technology solutions and processing services to the financial technology and services market. I assume if you're live on the call today and not listening to a replay that you've already voted, either in person or absentee, as I did a couple of weeks ago. Longer term, we believe the investments we made this year will yield new customer opportunities and future revenue growth. 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. All rights reserved. We want to thank everyone for being able to call. Kabbage had visionary leaders in Rob Frohwein and Kathryn Petralia and would not sell it for what the market offers. ... INS Profile. As Leland noted, we slightly outperformed our third quarter expectations, specifically with the license revenue. Wirecard license software from CoreCard. Intelligent Systems Corporation (NYSE American: INS) announced that its shareholders elected Elizabeth W. "Betsy" Camp to serve as an independent Director of the Company. Turning to results for the third quarter. PR Newswire. 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. Revenue from them this year is less than 4% for the first nine months. Buy Intelligent Systems Corp stock (INS). 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. And the other is, credit. So as far as the Wirecard situation, we are opening a new office in Dubai, UAE. During the day the stock fluctuated 4.41% from a day low at $35.34 to a day high of $36.90. Intelligent Systems Corp. company facts, information and financial ratios from MarketWatch. The newer employees, and we have a different definition when we talk about newer employees. But we know that they -- that several -- I won't say fairly low revenue customers have committed to the transition as we come up with our own processing environment there. 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. And we have high hopes for it, but I don't see any big numbers for 18 months, two and three years out. Copyright 2019© FactSet Research Systems Inc. All rights reserved. Intelligent Systems Corp. engages in the management of emerging technology companies. Well, we're not trying to accumulate cash, but we're certainly happy that we're making a nice profit and cash accumulates, which is something a lot of these other guys can't say, the fintechs of the business. And now I'd like to provide a quick update on liquidity position. Get the latest Detailed Estimate from Zacks Investment Research. We wanted to wait and see how things settle down. View Intelligent Systems' earnings history. The year-over-year difference in operating margin was primarily driven by revenue mix in addition to previously announced infrastructure investments in our processing environment, which is part of our long-term growth strategy. I'll probably talk a little more about that and the process, perhaps in next call, but I think I just wanted to let you know we have good visibility on a year out from now, a quality review for two years out, but I can see pretty bright sunshine through both these lenses as far as large potential business. We have a mask optional policy in the offices. 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. Get today's Intelligent Systems stock price and latest INS news as well as Intelligent Systems real-time stock quotes, technical analysis, full financials and more. This provides us with significant reserves to both weather the current crisis and invest in our future. Basic Chart, Quote and financial news from the leading provider and award-winning BigCharts.com. I think the major impact on employees is in our India operations. 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. I know we've talked, we work hard for some time. I'll turn it over to Matt White, our CFO, now to go through the numbers and give us his thoughts. If I were to draw a number, I'd be saying it's $1 billion or more. So they made you want to be really clear when you give notice that you know what your plan is. Wirecard had and still has offices and employees in Dubai, Singapore and Chennai, India, in addition to their headquarters in Germany. And we suggest they go to the former First Data and TSIS platforms if they have larger programs and don't need an agile environment. Find real-time INS - Intelligent Systems Corp stock quotes, company profile, news and forecasts from CNN Business. INS: Intelligent Systems Corporation Detailed Estimate. For the nine months ended September 30, 2020, cash provided by operations was $15,184,000 compared to cash provided by operations of $7,679,000 for the comparable prior year period. I think we've done different as we charge based on accounts. Intelligent Systems Schedules First Quarter 2020 Earnings Release And Conference Call. You're probably all well aware of the Wirecard collapse. 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 The company reported $0.31 earnings per share (EPS) for the quarter. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. That software that we developed 30 years ago, that we converted -- when I say we, predecessor company Paysys, that we converted off of to the new CoreCard software. 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. First, the Wirecard business as well as the recent press release announcing the opening of the Dubai offices. Intelligent Systems Corp (NYSEMKT:INS)Q3 2020 Earnings CallNov 3, 2020, 11:00 a.m. Seriously, this illustrates the kind of customer we want to partner with. With COVID, we're continuously concerned that what might happen with our employees, our family, and it's very important to us to keep up with what's going on with our families. Matt? So thank you for being on the call and have a good rest of the day. Fundamental company data and analyst estimates provided by FactSet. INS Intelligent Systems $34.50 / + (+0.00%) 01/27/20 Fly Intel: Top five analyst initiations 01/27/20 BTIG Intelligent Systems initiated with a Buy at BTIG 10/09/19 Sidoti Intelligent Systems initiated with … Just a few years ago, they were our second largest revenue customer. Stock Advisor launched in February of 2002. The investments we've made will enable us to take on additional processing customers in 2021 and beyond, leading to sustainable growth. Intelligent Systems' Q3, 2020, and 2021 Earnings Scaled Down by Analysts 12:15AM ET 9/29/2020 MT Newswires. Company Profile. Historically the processors in that area have charge based on transactions as opposed to account. Thank you, everyone. Intelligent Systems Corp. 4355 Shackleford Road. model existent in INs (intelligent networks). But it's going to be I think a nice center for us in the APAC region as we grow the business. I'm continuously reminding investors that quarter-to-quarter comparisons don't tell our story as we manage year-to-year. Earnings per diluted share for the quarter was $0.31 compared to $0.34 for Q3 2019. So think of it as we do, it's an investment. But eventually, we expect to offer our full premium credit processing services in the region. But we'll use $1 million of it here, but it could have been stage where we could have used $5 million of it. 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. 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. Source: FactSet. For over thirty-five years, Intelligent Systems Corporation [NYSE American: INS] has identified, created, operated and grown technology companies. Read the latest StockTalks, investment ideas, and community discussion on Intelligent Systems Corporation (INS). 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? 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. 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. There is two components of it. Returns as of 12/12/2020. Thanks, Matt. Our ability to offer innovative and the latest types of programs along with deep experience in settlements, regulatory issues, compliance, reporting and real-time accurate delivery of these are a result of the long tenured and experienced CoreCard team. Source: Kantar Media. Thanks for joining us. The company’s principal operations are CoreCard Software, Inc. and its affiliate companies. International stock quotes are delayed as per exchange requirements. 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. The impact of the COVID-19-related economic slow down continue to be muted for the third quarter of 2020. As we said in other industries, prepare yourself in hours, quality is value and you get what you pay for. We will be buying assets from Wirecard and using those assets as they are currently used by Wirecard. And we also wanted to limit what we spend knowing that it's going to take time to build the business. That also means that you actually start to have discussions even a year before that notice period. Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. 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. I expect more new things there than conversions in that area. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. We work from home on the other days. 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. Contracts are usually five to 10 years. We are in dialog with them, and we're ready to continue serving them with our new processing offering in the region. There are no further questions at this time. Current and historical daily P/E ratio for INS (Intelligent Systems Corp) from 1990 to Sep 06 2020.The price to earnings ratio is calculated by taking the current stock price and dividing it by the most recent trailing twelve-month earnings per share (EPS) number. All right. Intelligent Systems Schedules First Quarter 2020 Earnings Release And Conference Call. No. Intelligent Systems Corp (NYSEMKT:INS) Q3 2020 Earnings Call Nov 3, 2020, 11:00 a.m. Intelligent Systems has a ROE of 29% , based on the last twelve months. We're committed, and it's important to recognize that it would take an investment, both in time and currency to develop this market. Before I do that, I'll remind you that you can fax questions to us, while this line is open to email@example.com. That means our customers get more in total from CoreCard if what they receive from other processors. INTELLIGENT SYSTEMS CORPORATION : News, information and stories for INTELLIGENT SYSTEMS CORPORATION | Nyse MKT: INS | Nyse MKT Again, the larger programs longer term contracts call for 12 months. 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. As [Indecipherable] you're probably aware that Kabbage was one of our early customers. We're working on programs now that we can't discuss, but believe will generate significant revenue in the fourth quarter next year. We're not willing to throw a lot of money buying a business out there. 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%. Now , it is becoming clear that future sophisticated services breaking away from the simple telephony call model, e.g., multimedia, multi-party May 7, 2014 11:11 AM EDT. Data are provided 'as is' for informational purposes only and are not intended for trading purposes. Thank you. And then third, finally, the important ingredients we have in place for continued steady long-term growth. 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. Turning to some additional highlights on our income statement for the third quarter of 2020. In our Intelligent Systems and CoreCard Atlanta office, some of us are in every day for the normal routine and others are in the office on Tuesdays and Thursdays. While we wanted to get in the business, we didn't want to take on a ongoing obligation that was going to take a long time to end up being profitable for the company. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. Our strong cash position allowed us to invest $6.2 million in our processing infrastructure in 2020 and open the new recently announced offices in Dubai and Chennai. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. I assume you've all read the press release posted this morning. 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. 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. 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