Intrinsyc reports record revenues, reiterates feature-phone focus

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Nov. 09, 2005

Intrinsyc Software has reported financial results for its 2005 fiscal year, showing record high revenues for both the fourth quarter and the year as a whole. Fiscal 2005 revenue was $17.5 million, a 16 percent increase from fiscal 2004, while fourth quarter revenue was up 41 percent over last year, at $5.4 million.

Chief Operating Officer Vince Schiralli emphasized the company's growing focus on developing a feature-phone software stack based on Windows CE. "As part of Intrinsyc's Mobile Software Products strategy, we are addressing the mobile industry's need for feature phones that are cheaper and faster to produce in order to target a global, mass-market base of mobile phone users," said Schiralli. "We are leveraging our established Windows CE skills in developing the world's only Windows CE-based operating system for feature phones and the recent investment from Wellington Financial LP is a strong vote of confidence in Intrinsyc's mobile expertise to deliver this product in 2006."

Earlier this year at the 3GSM World Congress in Cannes, Intrinsyc unveiled a suite of software and tools intended to extend Windows CE into the rapidly growing feature-phone device segment, a mobile phone segment largely ignored by Microsoft

Intrinsyc describes feature-phones as "advanced handsets [that] offer consumers sought-after applications such as digital camera capability, video streaming, gaming, multimedia, and messaging." Strategy Analytics recently projected that feature-phones will account for around 50 percent of some 725 million mobile phone shipments in 2005, while smartphones will represent just six percent (see mobile phone market growth chart).

CEO Derek Spratt said, "In addition to the outstanding performance of our core business both in the fourth quarter and throughout the year, the first milestone of our Windows CE-based feature phone development was completed on time and on budget." Spratt added that the company is "making excellent progress toward establishing our critical partnership and initial customer relationships."

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