ATLANTA, Feb. 20 /PRNewswire-FirstCall/ -- InterCept, Inc. (Nasdaq: ICPT),
a leading provider of technology products and services for financial
institutions and other businesses, today announced earnings per share guidance
for 2003.
(Photo: newscom.com )
"We expect to achieve operating earnings per share of $0.80 - $0.90 for
the full year 2003," commented Mr. Collins. "This guidance does not take into
account any one-time charges that we may incur. This estimate does reflect a
higher level of capital expenditures and other costs in the first half of the
year related to our commencement of item processing services for Sovereign
Bank. We expect most of the quarter-over-quarter revenue increase from the
Sovereign contract to occur in the fourth quarter of 2003. We will provide
further detail regarding our 2003 estimate, as well as our 2002 financial
results, during our upcoming conference call."
The earnings guidance provided in this release is based on current budget
goals and InterCept's assessment of current conditions affecting its business.
InterCept's management may, from time to time, update such guidance to reflect
any material changes in its expectations and objectives if and when it
determines that it is necessary or desirable to do so.
About InterCept
InterCept, Inc. is a single-source provider of a broad range of
technologies, products and services that work together to meet the technology
and operating needs of financial institutions. InterCept's products and
services include core data processing, check processing and imaging,
electronic funds transfer, debit and credit card processing, data
communications management, and related products and services. For more
information about InterCept, go to www.intercept.net or call 770.248.9600.
This release contains forward-looking statements within the meaning of the
securities laws that are based on current expectations, assumptions,
estimates, and projections about InterCept and our industry. These forward-
looking statements are not guarantees of future performance and are subject to
risks and uncertainties, many of which are outside of InterCept's control,
that may cause actual results to differ materially from those expressed or
implied by the forward-looking statements. These risks and uncertainties
include whether InterCept can: meet its budget goals; continue to sustain its
current internal growth rate or its total growth rate; successfully integrate
acquisitions of assets and businesses and other operations it may acquire;
continue to provide enhanced and new products and services that appeal to its
financial institution and merchant customers; continue to have access to the
debt and equity capital it needs to sustain its growth; and achieve its sales
objectives. Other risks include whether InterCept can make changes to iBill's
business without suffering a further decline in its operating performance; the
possibility that, notwithstanding these changes, credit card companies may
fine InterCept for excessive credit card charge-backs or other issues arising
out of the iBill operations; and the possibility that the termination of
customers or other changes in the iBill business could affect its value and
result in the impairment of that asset or other intangible assets, which would
require InterCept to record an impairment charge in its statement of
operations. Some of these factors and others you should consider are
discussed in detail in the section in our most recent Quarterly Report on Form
10-Q entitled Management's Discussion and Analysis of Financial Condition and
Results of Operations -- Disclosure Regarding Forward-Looking Statements.
SOURCE InterCept, Inc.
-0- 02/20/2003
/CONTACT: Carole Collins, Investor Relations Director of InterCept, Inc.,
+1-770-248-9600/
/Photo: NewsCom: newscom.com
AP Archive: photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840/
/Web site: intercept.net
(ICPT)
CO: InterCept, Inc.
ST: Georgia
IN: CPR FIN ECM MLM
SU: ERP
ES-KW
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