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| Subject: Re: IHGassist Visa worldwide on the EMV chipmigration | |
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Author: expectannounce a major contractAustralian marketverysoon". |
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Date Posted: 14:51:34 01/10/03 Fri In reply to: stronger second half year. 's message, "IHG" on 04:48:59 01/09/03 Thu INTELLECT HOLDINGS LIMITED 2003-01-09 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ Intellect (ASX: IHG) today announced that in his address to the AGM held on November 14, 2002, Intellect Chairman Dr J E Haag signalled a weak first half. Revenues in Europe were soft as a result of overall poor economic circumstances and the acceleration of revenues from other regions, predominantly in South America, was slower than expected due to customer timing issues. As a consequence a first half loss of A$ 5 - 6 million will likely occur. The board however is still confident that for the full year both revenues and NPAT will exceed last years of A$ 89 million and A$ 7.8 million respectively. Intellect's CEO, Mr Jan de Smet said: "As a result of customer timing issues approximately A$8 million in revenues for the America's is slipping into the January/February timeframe.For similar reasons deliveries under our contract for EMV upgrades in Europe, worth A$8 million as well, have been postponed." "Significant additional orders are expected from new markets in the USA, South-America, the UK and France, and we expect to be able to announce a major contract for the Australian market, which will endorse our strong position in the local market substantially very soon". "Furthermore substantial orders will flow from the recent agreement with Visa. Intellect has been endorsed by Visa as only one of two terminal suppliers to assist Visa worldwide on the EMV chip migration, offering Visa's 20,000 plus members EMV systems with the latest technology and accompanying services." Dr Haag said : "Intellect's revenue pattern is traditionally characterized by a weaker first and a stronger second half year. Now that balance is even more disrupted by the slippage of deliveries under substantial contracts into the second half. Obviously this impacts significantly on the first half year. The new partnerships in place however give us confidence for the second half of the year. For the longer term, given the strategic importance of our new alliances, we believe the outlook for Intellect is excellent." ABOUT INTELLECT Intellect can be found on the World Wide Web at www.intellect.com.au Media Contact Angela Porter Recognition PR +61(0)3 9600 4666 +61 (0) 412 830691 angela_porter@recognition.com.au [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| Re:Intellect has been endorsed by Visaone of twoterminal suppliers | EMV chipmigration, | 18:14:00 01/10/03 Fri |