SOURCE: QI Systems Inc.

May 15, 2007 09:00 ET

QI Systems Inc. Ships Last Phase of Large Cale Parking Order -- Projects Record Revenue for Fiscal 2007

DALLAS, TX and RICHMOND, BC -- (MARKET WIRE) -- May 15, 2007 -- QI Systems Inc. (OTCBB: QIII), a leading developer and integrator of contact and contactless card payment, access control and tracking solutions, today announced the Company has made the final shipment against the order received in February 2007 from Cale Systems, Inc., the North American subsidiary of Cale Access AB of Sweden. The second shipment completes the total order valued at US$200,000. The order is for QI Hybrid card payment terminals for use in Cale's self-serve parking machines.

Mr. Steven R. Garman, QI Systems' CEO and president, commented, "The Cale shipment is the first of several significant orders expected to be shipped and closed before the end of the Company's June 30, 2007 fiscal year end. The Company continues to expect record breaking revenue in fiscal 2007. With the launch of our new QiWave™ readers and reload machines, the outlook for fiscal 2008 appears even brighter."

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

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

    Investor Relations Contact:
    Todd Lorenze
    (407) 327-6444
    or
    Will Hobson
    (407) 327-6445