COLUMBIA, Md., Feb. 8, 2011 (GLOBE NEWSWIRE) -- Integral Systems, Inc. (Nasdaq:ISYS) announced today that it entered into a sublease on February 8, 2011, for the majority of its headquarters facility located at 6721 Columbia Gateway Drive, Columbia, Md. In conjunction with the sublease, the Company will repopulate the remaining portion of its facility in Lanham, Md.
The sublease will commence on April 1, 2011, for a term of five years. Integral Systems expects that the sublease will generate approximately $2.2 million per year in cash flow and will reduce corporate overhead expenses by approximately the same amount. As a result of the Company's return to the remaining portion of its Lanham facility, it has reversed $1.9 million of lease loss reserve recorded during the previous fiscal year.
"This sublease is a significant step forward for Integral Systems as we continue to drive down our operating costs," commented Christopher Roberts, Chief Financial Officer, Integral Systems. "By eliminating excess facility expense, we will reduce our corporate overhead run rate and improve our competitive posture."
Jones Lang LaSalle served as Integral Systems' listing agent for the property.
About Integral Systems
Integral Systems, Inc. is a global provider of products, systems and services for satellite command and control, telemetry and digital signal processing, data communications, enterprise network management and communications information assurance. We specialize in developing, managing and operating secure communications networks, both satellite and terrestrial, as well as systems and services to detect, characterize and geolocate sources of RF interference. Our customers include U.S. and foreign commercial, government, military and intelligence organizations. For almost 30 years, customers have relied on the Integral Systems family of companies (Integral Systems, Inc., Integral Systems Europe, Lumistar, Inc., Newpoint Technologies, Inc., RT Logic and SAT Corporation), as well as our services organization, Integral Systems Service Solutions (IS3), to design and deliver innovative commercial-based products, solutions and services that are cost-effective and reduce delivery schedules and risk. Our dedication to "The Integral Difference" has solidified long-term relationships with the U.S. DoD, NASA, NOAA and nearly every commercial satellite operator in the world. For more information, visit .
CONTACT: Andrew Miller Vice President, External Communications Integral Systems, Inc. Phone: 443.539.5124 amiller@integ.com