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"First half trading was in line with expectations and we anticipate several new contracts will begin generating revenue in the second half of the year."
Richard Parris, Chairman & Chief Executive of Intercede, said today: "We have continued to make good commercial progress in challenging markets while resolutely laying the ground for our future strategic development. As governments and corporations become increasingly aware that identity assurance is a critical cornerstone of cyber security, the need for Intercede's MyID software platform is becoming more widely recognised. To exploit this opportunity we have made excellent progress in developing a number of new solutions and partnerships that we expect to announce in the coming months. We are confident and committed to our investment plan in support of Intercede's 2020 vision for high growth in the medium to long term. In the short term shareholders should be comforted that, in spite of a period of increased investment, our cash position is stronger than ever."
rim Results for the Six Months Ended 30 September 2012 Intercede (AIM: IGP.L) is a leading producer of Identity and Credential Management software, called MyID, which manages the secure registration, issuance and life cycle of digital identities for a wide range of uses. SUMMARY Sales of £3,508,000 (H1 2011: £3,528,000); Loss before tax of £185,000 (H1 2011: Profit before tax of £653,000); Basic and fully diluted loss per share of 0.2p (H1 2011: Earnings per share of 1.4p); Continued programme of investment to expand market presence and sales infrastructure, develop products and create additional revenue streams; Cash balances of £7,183,000 at 30 September 2012 (30 September 2011: £6,563,000) demonstrating financial strength of business; Launch of management solution for Microsoft Windows 8 Virtual Smart Cards.
Security software developer Intercede (IGP) said that it was trading in-line with targets, expecting to report revenues of around 3.5 million pounds for the first half of the financial year, and cash reserves of 7.2 million pounds at the end of September. The firm noted that a number of its existing clients are expanding the size of their orders and that it has secured several new contracts in Europe and the US. Additionally, the group said that it is developing a number of new products, which it expects to launch towards the end of the current financial year. Intercede shares rose by 1.5p to 68p.
All on track: "Our existing customers continue to expand their current MyID installations and new customers have been secured in the European and US markets. These new customers are expected to contribute to revenues in the second half of the year. A number of large bid opportunities are in progress with major corporates and governments, several of which are expected to yield revenues before the end of the financial period....."And cash still coming in despite large investment in staff: "Revenues in the first half of the current financial year will be in the region of £3.5m and cash in the bank at the end of September was £7.2m," (Revenue for half similar to last year, cash in March was £7m)
No statement at the meeting but issued a trading update early in October last year and I would expect something then. A shareholder wanted an independent chairman but my view, and that of another longer term shareholder who spoke, is that it would be an unnecessary expense and complication for a company of the size of Intercede. Growing strongly in terms of manpower and clearly investing considerable cash resources in the future and have the resources (£7m at end March 2012) to protect their IP.
am going to AGM - as their head office is 50m from my house would be rude not too! Hoping for something positive.
At the UK trade and Industry presentation during the olympics. Explains what it is all about. https://www.dropbox.com/s/pa7h3u6zxsvepny/Intercede.mp4
Currently just 82 followers but investors could bump up that number. Why not "follow" now? A regular flow of info. about participation in conferences etc. and some metrics about the company - and, of course, a quick route to the neat and tidy web site.
Parris added, "Our pipeline of commercial opportunities continues to grow as we seek to deepen our penetration of the markets where Intercede's MyID digital identity technology has become an industry standard. There are also a number of new technology-led trends which provide additional opportunities for Intercede; for example mobile device security and the deployment of digital patient identities in healthcare. The outlook is therefore extremely positive."
New customer accounts contributed 21% of total sales with the number of user licences issued rising to over 5m. Sales in North America have grown strongly as a result of several big wins to contribute over 64% of total sales.
Intercede, whose MyID identity management platform allows companies and governments to create digital identities for employees on secure devices such as smartcards, smartphones and tablets, has customers including ANZ Bank, BASF, Boeing, HealthSmart Australia, Lockheed Martin and Swedbank. Chairman and chief executive Richard Parris said: "The investment we have made this year in our sales and delivery capability gives us a real competitive advantage
Security software provider Intercede reported a fall in annual profit but remains confident about future trading amid a sharp rise in new customer accounts and strong growth in North America. The group, which issued a profit warning in February, said pre-tax profits fell to £0.9m in the year to the end of March from £2m the year before. Revenues increased to £7m from £6.9m a year ago.
"We remain committed to investing in the development of market leading technology to meet demand for identity focused services around the world and in the US in particular. As we continue to grow our sales infrastructure and support capability, we are increasingly better placed to exploit this growth potential," Parris added.
"Intercede is in a stronger position than a year ago both financially and operationally despite a depressed global economy; and the orders we have received demonstrate that we remain the technology leaders in our sector," claimed Ricard Parris, who is both Chairman and Chief Executive of Intercede.
Market expectations are for profit before tax of £0.6m on revenue of £6.9m. Cash balances totalled £7.0m at the end of March, which compares to £6.0m at the same time last year. House broker finnCap had forecast end-period cash balances of £6.5m.
Intercede, the identity and credential management software provider which issued a profit warning in February, said full-year profits look set to be in line with market expectations. Although the figures have yet to be signed off by the auditors, the company indicated that sales for the year to March 31st will be higher than the previous year
"We remain committed to investing in the development of market leading technology to meet demand for identity focused services around the world and in the US in particular. As we continue to grow our sales infrastructure and support capability, we are increasingly better placed to exploit this growth potential," Parris added
"Intercede is in a stronger position than a year ago both financially and operationally despite a depressed global economy; and the orders we have received demonstrate that we remain the technology leaders in our sector," claimed Ricard Parris, who is both Chairman and Chief Executive of Intercede
Market expectations are for profit before tax of £0.6m on revenue of £6.9m. Cash balances totalled £7.0m at the end of March, which compares to £6.0m at the same time last year. House broker finnCap had forecast end-period cash balances of £6.5m.
Intercede, the identity and credential management software provider which issued a profit warning in February, said full-year profits look set to be in line with market expectations. Although the figures have yet to be signed off by the auditors, the company indicated that sales for the year to March 31st will be higher than the previous year.
Richard Parris, Intercede Chairman and Chief Executive said; "I am delighted Intercede has been recognized as an E2 Treaty Investor. This is the result of an extensive application process. We now have the flexibility to more easily outpost key UK staff to our US business in order to accelerate its growth. This will enable Intercede to strengthen its US infrastructure, transfer technology, recruit and train more US staff, extend the Intercede corporate culture to a wider team and provide US opportunities and experiences to our UK staff. I believe this is a key milestone in the corporate development of the Intercede Group and will be instrumental in enabling increased revenues to be generated from the North American market."
ntercede Continues US Expansion Company Secures E2 Treaty Investor Status Leicestershire, England, December 12, 2011 - Intercede Group plc, the developer of the Intercede MyID® Identity and Credential Management System today announces its has been approved as a United States Treaty Investor (E2) by the US Embassy in London. The company is now able to send qualified executives and employees who are UK citizens to work for Intercede MyID Inc., subject only to them meeting the requirements appropriate to E2 status. Intercede MyID Inc is a wholly owned subsidiary of the Intercede Group with offices in Reston, VA. Treaty Investor employees qualify for E-2 work visas. These are non-immigrant visas for nationals of a country with which the United States maintains a treaty of friendship, commerce and navigation who wish to go to the United States to develop and direct the operations of an enterprise in which the Treaty Investor is investing a substantial amount of capital.
http://www.investegate.co.uk/Article.aspx?id=201112120700177450T