QI Systems Receives Production Release From Cale Systems
08 April 2004 - 9:00PM
PR Newswire (US)
QI Systems Receives Production Release From Cale Systems RICHMOND,
British Columbia, April 8 /PRNewswire-FirstCall/ -- QI Systems Inc.
of Richmond, British Columbia, Canada (OTC Bulletin Board: QIIIF;
TSX Venture Exchange: QII.U), the industry leader in smart card
solutions, reported today that the company has received an
immediate release from Cale Systems, Inc. for the production of a
substantial number of hybrid payment terminals. The production
release is part of a blanketorder from Cale for 525 units received
earlier this month. The units released for production represent
sales revenue for QI Systems of approximately $150,000 US. Cale
plans to take delivery of the remaining units before the end of the
year and anticipates placing additional payment terminal orders
with QI in the near future. The QI Systems readers are for use in
Cale equipment being placed at sites throughout North America. Cale
Systems, Inc. is a Montreal, Quebec firm that distributes and
assembles metered parking devices manufactured by CALE of Sweden.
Cale is recognized as one of North America's premier metered
parking equipment companies. Since early 2000, QI Systems and Cale
have worked together to provide the parking industry with
state-of-the-art smart card payment solutions. QI Systems Inc.
(http://www.qisystems.ca/) designs hardware and software for the
rapidly expanding smart card industry. The company is a world
leader in supplying top-to-bottom solutions for smart card
applications in a wide variety of industries. QI Systems Inc. has a
high level of expertise in delivering stored value solutions for
specialized needs. Matters discussed in this press release are
forward-looking statements and can be identified as such because
the context of the statement will include words such as expects,
anticipates, or words of similar import, or will describe the
Company's future plans, objectives or goals. These statements are
subject to certain risks and uncertainties, including the financial
performance of the Company and market valuations of its stock,
which could cause results to differ materially from those currently
anticipated. Statements made herein are made as of the date of this
press release and the Company undertakes no obligation to publicly
update them. The TSX Venture Exchange does not accept
responsibility for the adequacy of this news release and has not
investigated the validity of these claims. Approved on behalf of
the Board Steven R. Garman President & CEOQI Systems Inc. This
release was issued on behalf of the above organization by
Send2Press(TM), a unit of Neotrope(R). http://www.send2press.com/.
DATASOURCE: QI Systems Inc. CONTACT: Steven R. Garman, President
& CEO of QI Systems Inc., +1-604-248-2301, Web site:
http://www.send2press.com/ Web site: http://www.qisystems.ca/
Copyright