Intelligent Systems Reports Loss

NORCROSS,Intelligent Systems, an operator of several information technology companies, reported a $2.2 million loss for the second quarter on revenues of $3.3 million.

The company (Amex: INS) said the loss equaled that of 2003. Revenues were up 19 percent.

Intelligent Systems said it deferred $7.4 million in revenue and $4.9 million in profit from its VISaer software subsidiary. The firm has a contract that was delayed for implementation past June 30.

Through six months of 2004, losses were $3 million on revenues of $8 million.

Subsidiaries include VISaer, QS Technologies and CoreCard software companies.

Intelligent Systems: www.intelsys.com