CAMARILLO, Calif., Nov. 15 /PRNewswire-FirstCall/ -- International Card
Establishment, Inc. (I.C.E.) (OTC Bulletin Board:
ICRD -
News) today announced its
third quarter and nine month results for the period ended September 30, 2006.
For the quarter ended September 30, 2006, the company generated net revenue of
$2,827,008 as compared to net revenues of $1,162,001 for the quarter ended
September 30, 2005. For the quarter ended September 30, 2006 the company
reported net income of $29,278 $(0.00 per share) as compared to a net loss of
$(1,066,127) $(0.04 per share) for the quarter ended September 30, 2005.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for
the quarter was $305,015.
For the nine months ended September 30, 2006, the company reported net
revenues of $7,683,082 versus $2,751,569 for the comparable period a year ago.
For the first nine months of 2006, the company reported a loss of $(3,550,822)
$(0.12 per share) versus a loss of $(3,550,823) $(0.12 per share) for the nine
month period ended September 30, 2005.
"We are pleased to report our first ever quarterly profit, and a strong
EBITDA of $305,015 for the third quarter," said H. Wain Swapp, CFO, I.C.E.
"This is a beginning of what we expect to be a continuing string of profitable
quarters. As we roll out our sales and marketing campaign over the coming
quarters, we expect to increase revenues and related net income and EBITDA
given the highly scaleable nature of our business." Mr. Swapp went on to add,
"Our cost cutting efforts are now complete and we can now focus on growing our
business."
About I.C.E.
http://www.cardnetone.com
I.C.E. 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 through its wholly-owned Neos Merchant Solutions subsidiary
(http://www.neosmerchant.com) 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.
Contact:
H. Wain Swapp
Chief Financial Officer, I.C.E.
800-905-6367 ext. 532
email: wswapp@neosmerchant.com
or
Investor Relations Contact:
PAN Consultants, Ltd.
Philippe Niemetz,
toll-free: 800/477-7570
212/344-6464
email: p.niemetz@panconsultants.com
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
