VANCOUVER, British Columbia, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Intrinsyc Technologies Corporation (TSX:ITC) and (OTC:ISYRF) (“Intrinsyc” or the “Company”), a leading provider of solutions for the development of embedded and Internet of Things (“IoT”) products, today announced the receipt of orders, last week, from new and existing clients, that are in aggregate valued in excess of US$800,000. Orders for the Company’s Open-Q™ embedded computing modules and related hardware components are valued at approximately US$185,000. Engineering services agreements from multiple clients valued at approximately US$630,000. Among the engineering services order is an order from an industry leading company in the robotics industry, a Fortune 500 computing company, and an Industrial IoT company that is planning on using the Company’s recently launched Open-Q™ 626 system on module (SOM). Hardware shipments and services are expected to be provided during the fourth quarter, 2017, and first quarter, 2018.
“We continue our sales momentum with hardware and services orders from existing clients,” stated Mark Waldenberg, Vice President Global Sales, Intrinsyc. “In addition, the launch of new embedded computing products, like the Open-Q™ 626, is generating new design wins that we expect to lead to repeat hardware orders for multiple years.”
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 statements regarding the Company’s future plans, objectives, delivery performance, revenues, 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. Risk factors are described in the Company’s reports filed on SEDAR, including its Annual Information Form and financial report for the year ended December 31, 2016. 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 Technologies Corporation
Intrinsyc Technologies Corporation is a product development company that combines production ready computing engines with unmatched product development expertise to enable rapid commercialization of embedded and Internet of Things (“IoT”) products. Intrinsyc has successfully delivered over 1,000 projects from mobile phones and tablets to IoT products like robotics, wearables, connected cameras, augmented reality glasses, and many more. Intrinsyc’s Open-Q™ System on Modules incorporate the industry’s most advanced processor technology available, and help OEMs to rapidly bring industry leading products, with rich functionality and high performance, to market. Intrinsyc is publicly traded (TSX:ITC) and (OTC:ISYRF) and is headquartered in Vancouver, BC, Canada, with additional product development centers in Boulder, CO, and Taipei, Taiwan.
For more information, please contact:
Rachele Webb
Senior Marketing Communications Coordinator
Intrinsyc Technologies Corporation
Email: rwebb@intrinsyc.com
Phone: +1-604-632-3559