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INTELLIGENT SYSTEMS ANNOUNCES 1991 FINANCIAL RESULTS

 INTELLIGENT SYSTEMS ANNOUNCES 1991 FINANCIAL RESULTS
 NORCROSS, Ga., March 3 /PRNewswire/ -- Intelligent Systems


Corporation (AMEX: INS) announced today its financial results for the fourth quarter and year ended Dec. 31, 1991.
 For the fourth quarter ended Dec. 31, 1991, the company reported net income of $69,000 or $0.01 per share on revenue of $11,975,000 compared to a net loss of $6,882,000 or $0.92 per share on revenue of $15,025,000 in the comparable period in 1990.
 For the year ended Dec. 31, 1991, net loss was $1,932,000 or $0.27 per share, a substantial improvement compared to a net loss of $11,201,000 or $1.46 per share in 1990. The reduced loss reflects improved operating performance and two non-recurring gains posted by the company in 1991. In the quarter ended Sept. 30, 1991, the company recognized a gain of $3,229,000 on the sale of its OrCAD subsidiary. In the fourth quarter ended Dec. 31, 1991, the company recorded a gain of $1,900,000 on payment of a note receivable which had been carried on the company's balance sheet at a discounted value.
 For the 12-month period, the company recorded sales revenue of $48,688,000 compared to $51,824,000 in 1990. The year-to-year revenue change reflects a 9 percent increase in sales volume at the company's international subsidiaries offset by a decline in revenue from domestic enhancement product sales. In addition, as a result of the sale of the company's OrCAD subsidiary in September 1991, revenues from sales of OrCAD products are included for an eight-month period in 1991 compared to the full 12 months in 1990.
 On Nov. 1, 1990, the company acquired Brier Technology, an emerging technology company. All of Brier's expenses have been included in the consolidated results of the company since that date. For the year ended Dec. 31, 1991, the reported results include losses and write-offs related to Brier Technology totaling more than $3,700,000, approximately $0.53 per share. Of the $1.46 per share loss in 1990, $0.54 per share was a non-recurring charge recorded in the fourth quarter arising from the company's acquisition of Brier Technology.
 As previously reported, on Nov. 29, 1991, Intelligent Systems Corporation (the "Corporation") acquired through merger the business, net assets and operations of Intelligent Systems Master, L.P. (the "Partnership"). All of the outstanding Partnership units were automatically converted on a one-for-one basis into common stock of the Corporation. The financial results reported reflect the Partnership's historical results of operation for periods prior to Nov. 29, 1991, and those of the Corporation since that date. The term "Company" refers to the Partnership before the merger and to the Corporation since that date.
 According to J. Leland Strange, president of Intelligent Systems: "Operating results of our domestic operations are impacted significantly by losses related to Brier Technology. We have also expensed over $1.6 million to date in on-going legal fees in two separate actions. We are involved in preparation for the damages phase of a lawsuit in which we won a previously announced decision against NEC Home Electronics (USA). We are also supporting a suit filed by Brier Technology against several parties, including its former president, involving charges of alleged misappropriation of trade secrets and unfair competition, among others.
 "On the international front, a month ago we announced the acquisition of a competing business by our U.K. distribution subsidiary. The transaction is expected to strengthen our European subsidiary."
 Intelligent Systems Corporation common stock is traded on the American Stock Exchange under the symbol INS. The company conducts its business through subsidiaries: InterQuad (European distribution of microcomputer products); Intelligent Systems Japan (Pacific Rim distribution of software products); Quadram (high capacity removable storage subsystems); Datavue (laptop computers), and Brier Technology (very high capacity floppy disk drives). The company also has investments in developing companies, primarily technology based.
 SUMMARY OF RESULTS
 3 mos. ended Dec. 31 1991 1990
 Revenue $11,975,000 $15,025,000
 Net income (loss) 69,000(b) (6,882,000)(a)
 Pro forma average shares
 outstanding(c)(d) 6,688,991 7,449,739
 Pro forma share income/(loss) $0.01 $(0.92)(c)
 12 mos. ended Dec. 31 1991 1990
 Revenue $48,688,000 $51,824,000
 Net loss (1,932,000)(b)(e) (11,201,000)(a)
 Pro forma average shares
 outstanding(c)(d) 7,177,725 7,658,634
 Pro forma share loss $(0.27) $(1.46)(c)
 (a) Includes non-recurring charge of approximately $4,100,000 related to acquisition of Brier Technology.
 (b) Includes gain of $1,900,000 on payment of note receivable.
 (c) Pro forma to account for contribution of 1 percent general partner's interest upon conversion to corporation.
 (d) Shares outstanding decreased due to company's repurchase program and tender of 701,300 shares in sale of subsidiary in Q3 1991.
 (e) Includes gain of $3,229,000 on sale of subsidiary.
 -0- 3/3/92
 /CONTACT: Bonnie Herron of Intelligent Systems, 404-381-2900/
 (INS) CO: Intelligent Systems Corporation ST: Georgia IN: CPR SU: ERN


BR-BN -- AT002 -- 4318 03/03/92 08:33 EST
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