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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/14/13 -- Intrinsyc Software International (TSX: ICS) ("Intrinsyc" or the "Company"), a leading provider of solutions for the development of embedded and wireless devices, today announced the recent signing of several new product development agreements with embedded original equipment manufacturers ("OEMs") and technology suppliers. The agreements include:
-- Platform software development, based on Intrinsyc's Open-6 Reference Design, for an Android based medical device;-- Platform software development for a new Android based consumer device from a Fortune 500 company. This project leverages previous work the company performed directly for a silicon vendor;-- Design, development, production, and support of a new development kit for a leading silicon vendor;-- Development of Radio Interface Layer software for a modem vendor, utilizing Intrinsyc's RapidRIL™ software;-- As well as, a few, smaller development and technical support projects for leading technology vendors and embedded device OEMs.
"The signing of these new agreements will improve the company's engineering utilization which has been negatively impacted by decreased demand from traditional customers, including the unexpected cancellation of a project with one of our largest customers at the beginning of the year," said Tracy Rees, President and CEO of Intrinsyc. "It is especially gratifying to see the company's recent introduction of reference designs and development kits are expanding opportunities and helping us to win new development projects. We are excited to expand these solutions with a new agreement with an industry leading silicon vendor to build a new development kit and system on module solution."
Further details of the projects and the customer names remain confidential at the request of our customers. The Company looks forward to providing more information on the new development kit and system on module solutions in coordination with our silicon partner, late in the second quarter of 2013.
2012 Fiscal Fourth Quarter and Year End Financial Results Conference Call
The Company will release its fiscal fourth quarter and full-year 2012 financial results on Thursday, March 21, 2013 at 4:00 p.m. Eastern Time (1:00 p.m. Pacific Time). The Company will hold a conference call to discuss the financial results at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) the same day. On the call, Tracy Rees, President and Chief Executive Officer, and George Reznik, Chief Financial Officer, will discuss the financial results announced. This conference call may be accessed, toll-free, by dialing 1-877-240-9772, and internationally by dialing 1-416-340-8527 approximately 10 minutes prior to the start of the call. This conference line is operator assisted and an access PIN is not required. The conference call will also be broadcast live over the Internet and available for replay on the Company's Investor Relations Conference Calls web page (www.intrinsyc.com/investors/conference_calls.aspx). Analysts and investors are invited to participate on the call. Questions may be submitted to invest@intrinsyc.com prior to the call.
