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International Card Establishment Details Positive Outlook for 2005
CAMARILLO, Calif., June 22 /PRNewswire-FirstCall/ -- International Card Establishment, Inc. (I.C.E.) (OTC Bulletin Board: ICRD) detailed the company's outlook for 2005, including expectations for solid financial performance from its bankcard unit.
'After working assiduously for the past 18 months to put our direct bankcard processing operation in place, we are now in a position where we can actively recruit Independent Sales Organization (ISO's) and independent bankcard agents serving the small to medium-sized merchant marketplace,' said William Lopshire, CEO, I.C.E. 'Adding in the continued strong performance of our leasing subsidiary GlobalTech Leasing and steady performance from our gift and loyalty unit, Neos Merchant Solutions, we have finally put into place all of the pieces that we originally devised when we launched I.C.E. as a true 'one-stop' solution for comprehensive transaction processing requirements of merchants.'
I.C.E. expects that its 2005 revenues will be within a range of $25 million to $30 million and further expects to attain profitability by year end 2005. The company expects its bankcard unit, which recently signed Foresite Merchant Solutions, to be an integral part of the consolidated growth of I.C.E.
About I.C.E.
I.C.E. (http://www.cardnetone.com/) is a rapidly growing 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 “Smart
Card"-based system – which allows gift and loyalty functions to be
stored on one card -- that enables merchants to offer
store-branded gift and loyalty cards.
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.
Investor Relations Contact:
PAN Consultants, Ltd.
Philippe Niemetz,
toll-free: 800/477-7570
212/344-6464
email: p.niemetz@panconsultants.com
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