SOURCE: QI Systems Inc.

October 23, 2007 07:00 ET

QI Systems Inc. Announces New Orders From Cale Parking

Continues to Expect Record Revenue for Fiscal 2008

DALLAS, TX and RICHMOND, BC--(Marketwire - October 23, 2007) - QI Systems Inc. (OTCBB: QIIIE), a leading developer and integrator of smart-card payment, access control and tracking solutions, today announced that it has received two more orders from Cale Systems, Inc., the North American subsidiary of Cale Access AB of Sweden. The two orders, valued at US$200,000, are for QI hybrid smart-card readers for use in Cale self-serve parking payment terminals. The orders are expected to be shipped at the end of October and November 2007.

Steven R. Garman, President and Chief Executive Officer of QI Systems, stated, "We are pleased to say that Cale continues to be an important ongoing customer for QI. This continuing business, along with the recent successful launch of our innovative, eco-friendly CycleStations, will form a solid base for an extremely strong first half of fiscal 2008. We believe these product lines will continue to grow throughout 2008, and with our expected growth in the laundry and campus markets, should result in another record revenue year."

About QI Systems:

QI Systems Inc. develops and markets innovative chip-based card payment and tracking solutions for a number of industries as well as national, state and local government agencies. QI's products and core competencies include smart card and stored value systems, security protocols, data communication software design and hardware manufacture. For more information about QI Systems Inc., visit http://www.qisystemsinc.com.

Matters discussed in this press release are "forward-looking statements" and are subject to certain risks and uncertainties. Consider all risk factors carefully when evaluating forward-looking statements, as actual results may differ materially from current expectations. QI Systems undertakes no obligation to publicly update such forward-looking statements.

Contact Information

  • Contact:
    Corporate & Investor Relations
    Steven R. Garman
    President & CEO
    817-485-8111
    Email Contact