Intrinsyc Software International, Inc.

TSX : ICS


Intrinsyc Software International, Inc.

January 14, 2014 09:00 ET

Intrinsyc Receives Order for Custom Open-Q™ System on Module

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Intrinsyc Software International, Inc. ("Intrinsyc" or the "Company") (TSX:ICS), a leading provider of solutions for the development of embedded and wireless devices, today announced the receipt of an order exceeding $300,000 in value for the delivery of a custom version of the low-power, high performance, Open-Q 8060A System on Module. The computing modules are expected to be delivered in the second quarter of 2014. This is the first production order following Intrinsyc's completion of a design and development agreement with a leading company in the robotics industry for a custom computing platform based on Intrinsyc's Open-Q 8060A System on Module. Customization includes a higher performance "Pro" version system on chip, embedded Linux software, dual camera support, and other features. The customer name and other details remain confidential at the customer's request.

"We are pleased that our customer is now entering the production phase with a custom computing solution developed and manufactured by Intrinsyc," stated Tracy Rees, CEO of Intrinsyc. "We are hopeful that our customer's success in the market will lead to additional orders and new product designs."

Forward-Looking Statements

This press release contains statements which, to the extent that they are not recitations of historical fact, may constitute forward-looking information under applicable Canadian securities legislation that involve risks and uncertainties. Such forward-looking statements or information may include financial and other projections as well as statements regarding the Company's future plans, objectives, performance, revenues, growth, profits, operating expenses or the Company's underlying assumptions. The words "may", "would", "could", "will", "likely", "expect," "anticipate," "intend", "plan", "forecast", "project", "estimate" and "believe" or other similar words and phrases may identify forward-looking statements or information. Persons reading this press release are cautioned that such statements or information are only predictions, and that the Company's actual future results or performance may be materially different. Factors that could cause actual events or results to differ materially from those suggested by these forward-looking statements include, but are not limited to: the need to develop, integrate and deploy software solutions to meet the Company's customer's requirements; the possibility of development or deployment difficulties or delays; the dependence on the Company's customer's satisfaction; the timing of entering into significant contracts; customers' continued commitment to the deployment of the Company's solutions; the performance of the global economy and growth in software industry sales; market acceptance of the Company's products and services; the success of certain business combinations engaged in by the Company or by its competitors; possible disruptive effects of organizational or personnel changes; technological change, new products and standards; risks related to international expansion; concentration of sales; international operations and sales; dependence upon key personnel and hiring; reliance on a limited number of suppliers; industry growth; competition; intellectual property; product defects and product liability; currency exchange rate risk; and other factors described in the Company's reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2012. This list is not exhaustive of the factors that may affect the Company's forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. All forward-looking statements made in this press release are qualified by this cautionary statement and there can be no assurance that actual results or developments anticipated by the Company will be realized. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

About Intrinsyc Software International, Inc.

Intrinsyc Software International, Inc. (www.intrinsyc.com) is a product development company that provides hardware, software, and service solutions that enable next-generation embedded and wireless products. Solutions span the development life cycle from concept to production and help device makers and technology suppliers create compelling differentiated products with faster time-to-market. Intrinsyc is publicly traded (TSX:ICS) and is headquartered in Vancouver, BC, Canada.

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