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INTELLIGENT SYSTEMS ANNOUNCES FIRST QUARTER RESULTS

 INTELLIGENT SYSTEMS ANNOUNCES FIRST QUARTER RESULTS
 NORCROSS, Ga., April 28 /PRNewswire/ -- Intelligent Systems


Corporation (AMEX: INS) announced today its financial results for the quarter ended March 31.
 For the three month period, the company recorded sales revenue of $12,892,000 compared to revenue of $13,913,000 in the first quarter of 1991.
 The first quarter net loss was $1,406,000 or $0.21 per share compared to a net loss of $1,508,000 or $0.20 per share in the same period last year. The average number of shares outstanding in the first quarter this year was 6,676,668, 10 percent lower than in the comparable period last year. The reduction in shares outstanding is due mainly to the retirement of shares received in partial payment on the sale of a subsidiary in 1991.
 In January 1992, the company purchased a microcomputer products and training business in the United Kingdom, which improved the year- to-year performance of its existing InterQuad UK subsidiary and reduced the loss attributable to its European operations. The operating loss related to the company's Brier Technology subsidiary was the largest single element in the current quarter's results, although the amount was down by more than 30 percent compared to the same period last year. First quarter expenses in 1992 include significant legal fees related to two separate, previously discussed actions brought by the company.
 In the first quarter last year, the company's financial results included a revenue and profit contribution from its OrCAD software subsidiary. Intelligent Systems sold its interest in OrCAD in September 1991 and, therefore, the 1992 first quarter results do not include OrCAD financials. In addition, results for 1992 do not include income which was recorded in 1991 related to non-competition agreements which expired in 1991 and do not include interest which was earned last year on a note receivable which was repaid in 1991.
 On a separate matter, Intelligent Systems confirmed that it holds a 25 percent common stock interest in IQ Software Corporation, an Atlanta-based software company which has filed a registration statement with the Securities and Exchange Commission covering a proposed initial public offering of 1,500,000 shares of common stock. When and if the registration becomes effective, Intelligent Systems expects to sell 215,000 shares in the offering, representing approximately 27 percent of its holdings in IQ Software. William Blair & Company and The Robinson-Humphrey Company, Inc. will co-manage the underwriting group.
 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) and Brier Technology (high capacity floppy disk drives). The company also has investments in developing companies, primarily technology-based.
 SUMMARY OF RESULTS
 3 mos. ended March 31 1992 1991(a)
 Revenue $12,892,000 $13,913,000
 Net loss (1,406,000) (1,508,000)
 Loss per share oustanding $ (0.21) $ (0.20)(b)
 Average shares outstanding(c) 6,676,668 7,393,070
 (a) Includes results of OrCAD subsidiary which was sold September 1991.
 (b) For periods prior to November 29, 1991, per share loss is based on weighted average number of partnership units oustanding, including general partner's interest.
 (c) Shares outstanding decreased due to retirement of shares tendered as partial payment on sale of subsidiary in September 1991.
 -0- 4/28/92
 /CONTACT: Bonnie Herron of Intelligent Systems, 404-381-2900/
 (INS) CO: Intelligent Systems Corporation ST: Georgia IN: CPR SU: ERN


EA-BR -- AT005 -- 3665 04/28/92 10:21 EDT
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Date:Apr 28, 1992
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