Loading...
•
Dec 31, 2019
CoreCard Q4 2019 Earnings Report
Intelligent Systems reported fourth quarter and fiscal year 2019 results.
Key Takeaways
Intelligent Systems reported a strong fourth quarter and fiscal year 2019, with revenue growth of 70% for the quarter and 71% for the year. The company's unique offering resonated well with top-tier global companies, leading to better-than-anticipated top-line growth. The company is focusing on solidifying its infrastructure and providing the best support possible in fiscal year 2020.
Total revenues reached $10.3 million for the fourth quarter of 2019, a 70% increase year-over-year.
Full year 2019 revenues were $34.3 million, representing a 71% growth over the prior year.
Income from operations for the fourth quarter was $3.979 million, compared to $2.268 million in the prior year quarter.
Net income for the fourth quarter was $3.697 million, compared to $2.427 million in the prior year quarter.
CoreCard
CoreCard
Forward Guidance
Intelligent Systems anticipates a slower growth rate in fiscal year 2020 compared to 2019. The company plans to focus on solidifying its infrastructure, providing excellent support, and building a strong foundation for the business to exceed customer expectations.
Positive Outlook
- Focus on solidifying infrastructure.
- Commitment to providing the best support possible.
- Building a strong foundation for the business.
- Aiming to exceed customer expectations.
- Processing services business is expected to continue to grow.
Challenges Ahead
- Do not anticipate the level of growth seen in 2019.
- Focus on infrastructure may temporarily limit growth.
- Building period may impact short-term results.
- Potential delays in new projects.
- Market conditions could affect growth.