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International Card Establishment Reports First Quarter Results
Oxnard, California—May 17, 2004—International Card Establishment,
Inc. (I.C.E.) (OTCBB: ICRD) today announced its first quarter
results. For the quarter ended March 31, 2004, the company
generated net revenues of $3,388,528 as compared to net revenues
of $281,133 for the quarter ended March 31, 2003. For the quarter
ended March 31, 2004 and March 31, 2003, the company reported net
losses of $(344,723) $ (0.02 per share) and $(87,410) $(0.01
per share), respectively.
"Our first quarter results, which include the acquisition of
GlobalTech Leasing, are pretty well in line with our internal
plans,” said Jonathan Severn, Chairman and President, I.C.E. "With
internal growth from our credit card and leasing units, the
pending acquisition of Neos Merchant Solutions and other potential
acquisitions, we are well on our way to attaining our minimal
revenue objective of $22 million for 2004, our first full year as
a public company."
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