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International Card Establishment Details Positive Outlook for 2005
CAMARILLO, Calif., June 22 /PRNewswire-FirstCall/ -- International Card Establishment, Inc. (I.C.E.) (OTC Bulletin Board: ICRD) detailed the company's outlook for 2005, including expectations for solid financial performance from its bankcard unit.
'After working assiduously for the past 18 months to put our direct bankcard processing operation in place, we are now in a position where we can actively recruit Independent Sales Organization (ISO's) and independent bankcard agents serving the small to medium-sized merchant marketplace,' said William Lopshire, CEO, I.C.E. 'Adding in the continued strong performance of our leasing subsidiary GlobalTech Leasing and steady performance from our gift and loyalty unit, Neos Merchant Solutions, we have finally put into place all of the pieces that we originally devised when we launched I.C.E. as a true 'one-stop' solution for comprehensive transaction processing requirements of merchants.'
I.C.E. expects that its 2005 revenues will be within a range of $25 million to $30 million and further expects to attain profitability by year end 2005. The company expects its bankcard unit, which recently signed Foresite Merchant Solutions, to be an integral part of the consolidated growth of I.C.E.
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