Science & Technology
Science and Technology
Science and Technology
Mon, August 17, 2009
Sun, August 16, 2009
Fri, August 14, 2009 International Card Establishment, Inc. : International Card Establishment Reports Second Quarter Results
CAMARILLO, CA--(Marketwire - August 14, 2009) - International Card Establishment, Inc. (I.C.E.) (
For the quarter ended June 30, 2009, the company generated net revenues of $ 1,408,574 as compared to net revenues of $1,946,234 for the quarter ended June 30, 2008. For the quarter ended June 30, 2009 and June 30, 2008, the company reported a net loss of $(196,146) ($0.01 loss per share) and net income of $55,262 ($0.00 per share), respectively.
For the six month period ended June 30, 2009, the company reported revenues of $2,926,288 and net loss of $263,680 ($0.01 loss per share), as compared to revenues of $3,886,913 and a net income of $49,717 ($0.00 loss per share) for the comparable year ago period.
"Although we recorded a loss for the second quarter, which was caused by an extremely poor economic climate and significant investments in our LIFT and Internet marketing programs, we are pleased with the exceptional performance of our LIFT program, which has continued to add significant number of merchants to our customer list," said William Lopshire, CEO, I.C.E.
"In response to a rapidly deteriorating economic environment -- our credit card processing revenues have experienced month-over-month declines for the past year -- we shifted our marketing strategy from a fixed term contract for our LIFT program to a month-to-month offering, and increased our overall margin. While we were initially concerned that this would add to attrition, we have lost very few accounts since launching this program in March of this year."
Mr. Lopshire also commented, "Moreover, we anticipate signing a number of additional agents to our LIFT program over the coming months which should result in a secular uptrend in our net revenues in the coming quarters."
About I.C.E. ([ http://www.cardnetone.com ])
I.C.E. is a provider of diversified products and services to the electronic transaction processing industry. I.C.E. establishes merchant accounts for businesses that enable them to accept credit cards, debit cards and other forms of electronic payments; supplies point-of-sale systems; facilitates processing; and markets a proprietary Gift and Loyalty system that enables merchants to offer custom store-branded gift and loyalty cards and marketing and promotional tools.
Forward-Looking Statements
This press release may contain forward-looking statements that are subject to risks and uncertainties. Important factors which could cause actual results to differ materially from those in the forward-looking statements, include but are not limited to: the company's short operating history which makes it difficult to predict its future results of operations; the company's initial history of operating losses with possible future losses which could impede its ability to address the risks and difficulties encountered by companies in new and rapidly evolving markets; the company's future operating results could fluctuate which may cause volatility or a decline in the price of the company's stock; the possibility that the company may not be able to price its services above the overall cost causing its financial results to suffer; and other factors detailed in this press release and in future company filings with the Securities and Exchange Commission, at such time as the company is required to report its results of operations under the Securities Exchange Act of 1934, as amended.
