Communication Intelligence Corp. Offers Synopsis of Remarks at Cruttenden Southern California Growth Stock Conference
NEWPORT BEACH, Calif. — February 19, 1993 — The following is a summary of a presentation made by Redwood Shores, Calif.-based Communication Intelligence Corp. (NASDAQ: CICI) (CIC) today at the Cruttenden Southern California Growth Stock Conference.
Communication Intelligence Corp. is a leading, worldwide supplier of pen computing products, including: multilingual (English, German, French, Italian, Spanish and Japanese) Handwriter Recognition Systems and Handwriter Dynamic Signature Verification, with interfaces for Microsoft Windows for Pen Computing, GO's PenPoint, and CIC's own PenDOS and PenMAC pen operating environments.
CIC products and technology have been licensed by many major hardware companies, including IBM, NCR, NEC, Samsung, Seiko Epson, Fujitsu and Acer. CIC's MacHandwriter II, a desktop pen extension to the Macintosh computer, is distributed by Apple Japan. CIC's licensees and strategic allies enjoy a combined market share exceeding 40 percent of the worldwide personal computer market.
The company recently reported its financial results for the fourth quarter and fiscal year ended Dec. 31, 1992. Fourth quarter revenues were $1.4 million, an increase of 224 percent over the $440,000 for the same quarter of the previous year. The net loss for the quarter was $898,000 or $.05 per share compared to a net loss of $2.1 million or $.14 per share in the corresponding quarter of the prior year. Revenues for the 1992 fiscal year were $4.1 million, a 275 percent increase over the $1.1 million for the corresponding period last year. Fiscal 1992 net loss was $5.1 million, or $.32 per share, vs. a net loss of $4.1 million, or $.29 per share in fiscal 1991.
"During fiscal 1992, CIC made significant progress in technology validation, product introductions and market share captured," said James Dao, CIC president and chief executive officer. "In addition to the strategic marketing and technological relationship we formed with IBM to use, sell and sublicense CIC's PenDOS(TM) and Handwriter(R) Recognition System, we also licensed our products to NEC, Acer, Seiko Epson, Infos, and MicroSlate, among other OEMs yet to be announced. These licenses join NCR and Samsung, who we licensed in prior years. We are pleased with this growing acceptance of our pen-based operating environment and character recognition software as an industry standard."
CIC recently announced its new pen operating environment, PenMac(TM), designed for the Macintosh platform. PenMac is expected to ship in the first quarter of 1993, in Japan. It will be bundled with CIC's MacHandwriter II pen input product for Macintosh personal computers running Apple's new KanjiTalk 7 operating system.
Founded in 1981, CIC is headquartered in Redwood Shores and has a subsidiary in Tokyo.
CONTACT:
Anne Butler of Communication Intelligence Corp., 415-802-7888