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Image Sensing Systems Announces Postponement of Second Quarter Financial Results Release and Conference Call
Aug 03, 2011 (04:08 PM EDT)
SAINT PAUL, Minn., Aug. 3, 2011 /PRNewswire/ -- Image Sensing Systems, Inc. (NASDAQ: ISNS), announced today that it has postponed its scheduled after-market release and conference call to discuss financial results for the second quarter and six months ended June 30, 2011. The conference call was originally scheduled for today, Wednesday, August 3, 2011.
The Company decided to postpone the release and call because the review of a goodwill impairment test related to the Company's CitySync reporting unit is incomplete. The annual test for the CitySync unit is conducted in the second fiscal quarter.
The Company will reschedule the release and conference call as soon as practical.
About Image Sensing
Image Sensing Systems, Inc. is a provider of software-based detection solutions for the Intelligent Transportation Systems (ITS) sector and adjacent markets including security, police and parking. We have sold more than 120,000 units of our industry leading Autoscope® machine-vision, RTMS® radar and CitySync automatic number plate recognition (ANPR) products in over 60 countries worldwide. The depth of our experience coupled with the breadth of our product portfolio uniquely positions us to provide powerful hybrid technology solutions and to exploit the convergence of the traffic, security and environmental management markets. We are headquartered in St. Paul, Minnesota. Visit us on the web at imagesensing.com.
Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; the mix of and margins on the products we sell; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services, including ANPR products; adverse weather conditions in our markets; the impact of governmental laws and regulations; increased international presence; our success in integrating acquisitions; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's reports and other documents filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2010 filed in March 2011.
SOURCE Image Sensing Systems, Inc.