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INTELLIGENT SYSTEMS ANNOUNCES SECOND QUARTER RESULTS

 NORCROSS, Ga., July 29 /PRNewswire/ -- Intelligent Systems Corporation (AMEX: INS) announced today its financial results for the quarter ended June 30.
 The net loss for the second quarter of 1993 was $475,000 or $.07 per share compared to a net loss of $1,296,000 or $0.19 per share in the same period last year. The average number of shares outstanding declined slightly year-to-year due to the company's share repurchase program.
 For the three month period, the company recorded revenue of $15,200,000, a 30 percent increase compared to revenue of $11,710,000 in the second quarter last year. The period-to-period revenue growth is a result of higher sales levels at the company's European subsidiaries as well as the inclusion of revenue from two companies in which Intelligent Systems increased its ownership from a minority to a majority equity position in the past year.
 The reduction in operating loss reflects the discontinuation of operations at the company's Brier Technology subsidiary (a development stage company which had incurred significant losses) and a decrease in operating expenses as a percentage of revenue at the company's European operations.
 For the six month period ended June 30, the company earned $3,031,000 or $.46 per share on revenues of $29,589,000, compared to a loss of $2,703,000 or $.40 per share on revenues of $24,602,000 in the comparable period in 1992. In the first quarter of 1993, the company recorded a substantial one-time gain related to the favorable settlement of a lawsuit.
 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 (enhancement products); Intelligent Enclosures (mini-environment systems), and PsyCare (psychiatric treatment programs). The company also has investments in developing and growth-oriented companies and operates the Shared Resource Technology Center, a small business incubator.
 INTELLIGENT SYSTEMS SECOND QUARTER RESULTS
 Summary of Results
 Three months ended June 30 1993 1992
 Revenue $15,200,000 $11,710,000
 Net (loss) (475,000) (1,296,000)
 (Loss) per share outstanding (0.07) (0.19)
 Average shares outstanding 6,559,899 6,676,668
 Six months ended June 30 1993 1992
 Revenue $29,589,000 $24,602,000
 Net income (loss) 3,031,000(a) (2,703,000)
 Income (loss) per share outstanding 0.46 (0.40)
 Average shares outstanding 6,601,034 6,676,668
 (a) Includes gain of $4.1 million on favorable settlement of lawsuit.
 -0- 7/29/93
 /CONTACT: Bonnie Herron of Intelligent Systems, 404-381-2900/
 (INS)


CO: Intelligent Systems, Inc. ST: Georgia IN: CPR SU: ERN

BN-RA -- AT002 -- 7147 07/29/93 09:20 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
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