Image Sensing Systems Names New Member to Board of Directors
Contact: Art Bourgeois, Chief Financial Officer
Image Sensing Systems, Inc., Phone: 651.603.7700
Saint Paul, Minn., October 2, 2006 - Image Sensing Systems, Inc. (ISS) (NASDAQ: ISNS), announced today the election by the Board of Directors of Mr. Sven A. Wehrwein to replace former Board member Richard Braun, who retired in July 2006. The Company expects to nominate Mr. Wehrwein for election by the shareholders at the next Annual Meeting of Shareholders.
Mr. Wehrwein has over 30 years experience in finance, accounting, and investment banking, including serving as Chief Financial Officer of InStent, Inc. and Digi International. Since 1999, he has provided financing-consulting services to emerging growth companies. Mr. Wehrwein also serves on the Boards of Directors of Synovis Life Technologies, Uroplasty, Inc., and Vital Images, Inc. He received his Master’s in Management degree from the Sloan School at the Massachusetts Institute of Technology and is a Certified Public Accountant.
Jim Murdakes, Chairman and CEO said, “The Board is very pleased to welcome Sven. His background in financial consulting and experience on other Boards will be a valued addition to the ISS Board.”
Headquartered in St. Paul, Minnesota, ISS combines expertise in image processing, hardware and software engineering, and communications to develop video vehicle detection systems for traffic management and control applications. The Autoscope vehicle detection system is the world leader in video detection for advanced traffic management systems for highways, tunnel incident detection, intersection control, and traffic data collection. The Autoscope system provides traffic managers the means to reduce roadway congestion, improve roadway planning, and improve cost efficiencies. imagesensing.com
Safe Harbor Statement: Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements reflect management's current expectations or beliefs, and are subject to risks and uncertainties that could cause actual results or events to vary from stated expectations, which variations could be material and adverse. Factors that could produce such a variation include, but are not limited to, the following: the inherent unreliability of earnings, revenue and cash flow predictions due to numerous factors, many of which are beyond the Company's control; developments in the demand for the Company's products and services; relationships with the Company's major customers and suppliers; unanticipated delays, costs and expenses inherent in the development and marketing of new products and services; the impact of governmental laws and regulations; and competitive factors. Our forward-looking statements speak only as of the time made, and we assume no obligation to publicly update any such statements. Additional information concerning these and other factors that could cause actual results and events to differ materially from the Company's current expectations are contained in the Company's Form 10-KSB for the year ended December 31, 2005.
