Top-3 US Bank Chooses CIC Electronic Signature for Branch-Wide Deployment

REDWOOD SHORES, Calif., Oct. 28 /PRNewswire-FirstCall/ -- Communication Intelligence Corporation ("CIC" or "the Company") (OTC Bulletin Board: CICI), a leading supplier of electronic signature solutions for business process automation in the financial industry* and the recognized leader** in biometric signature verification announced today that the Company achieved cash flow positive operations for the 3rd quarter 2009 and projects cash flow positive operations for the 4th quarter and for the six month period ending December 31, 2009.

Total revenues for the three months ended September 30, 2009 were $877,000, an increase of 22% compared to the prior year period of $721,000 and more than double the revenue of $404,000 in the second quarter 2009. Orders received during the three month period ended September 30, 2009 were $1.7 million, an increase of 31% over orders received of $1.3 million for the third quarter 2008. Revenues were primarily attributable to Wells Fargo, Prudential and Snap-on Credit.

"We are, of course, delighted with the significant order related to a top-three US bank deployment but more importantly this win reflects, we believe, the continuing evidence of CIC's leadership as the 'vendor of choice' for financial industry applications," stated CIC's Chairman & CEO, Guido DiGregorio. "This order together with three recent successive wins with top tier insurance companies: Travelers, Allstate and American Family provides, we believe, clear evidence that in both insurance and banking applications, when leading financial industry firms engage in a thorough competitive analysis, including product differentiation, legal/compliance competence, overall support, on-time delivery and proven installed base reliability, CIC has emerged as the preferred supplier.

"CIC has, as a strategy, focused for years on developing a 'lean & agile' team with exceptional core competence capable of establishing long standing strategic partner relationships that allow CIC to rapidly access the product development and/or deployment capabilities required to address virtually any business requirement. We believe this strategy, relative to organizational, product and expense structure, further differentiates CIC by positioning the Company to deliver and support high quality successful on-time deployments at the lowest total cost of ownership. Also, of major significance, is that this strategy enables sustained cash flow positive operations on the lowest levels of revenue as evidenced by this quarter's achievement and the projected achievement of fourth quarter cash flow positive operations.

"Our third quarter orders, together with current sales related activity, support my second quarter observation that Financial Industry IT spending is freeing up for electronic signature deployments that are increasingly being viewed as mission critical. Along with projecting fourth quarter cash flow positive operations, we anticipate that 2009 revenues will exceed 2008 with the potential for continued and sustained cash flow positive operations."

About CIC

Communication Intelligence Corporation ("CIC") is a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification. CIC's products enable companies to achieve truly paperless work flow in their eBusiness processes by enabling them with "The Power to Sign Online®" with multiple signature technologies across virtually all applications in SaaS and fully deployed delivery models.

Industry leaders such as AGLA, Allstate, American Family, Charles Schwab, Prudential, Snap-on Credit, Travelers, Wachovia, Wells Fargo and WFG (World Financial Group) chose CIC's products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing hundreds of thousands of users, with over 500 million electronic signatures captured, eliminating the need for over a billion pieces of paper. CIC sells directly to enterprises and through system integrators, channel partners and OEMs. CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. For more information, please visit our website at http://www.cic.com.

*In December 2008, CIC was named to Forrester Research's "Hot Banking Tech Companies To Watch in 2009" Report.

**In October 2007, CIC was awarded the 2007 Global Frost & Sullivan Award for Market Leadership in the dynamic signature verification market.

Forward Looking Statement

Certain statements contained in this press release, including without limitation, statements containing the words "believes", "anticipates", "hopes", "intends", "expects", and other words of similar import, constitute "forward looking" statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company's technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company's business; (3) the Company's inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.

    Contact Information

    CIC
    Investor Relations & Media Inquiries:
    Chantal Eshghipour
    650-802-7740
    investorrelations@cic.com

SOURCE Communication Intelligence Corporation

Back to top

RELATED LINKS
http://www.cic.com