Last checked at 7 Sep 2010 07:00
7 September 2010
Intercede Group plc
("Intercede")
Positive Trading Update
Intercede announces strong levels of business throughout the summer period.
The Healthcare sector has made a significant contribution to revenue and in July orders from an existing UK customer generated more than £800,000 in cash receipts.
US government customers have continued to buy additional software licenses and a further US Federal Agency has purchased the Intercede MyID system. This brings the total number of Agencies using Intercede MyID for HSPD-12/PIV compliance to 13. Lockheed Martin and FAA continue to buy materially significant quantities of professional service time from Intercede in support of their large enterprise-wide identity programs.
Internationally, Intercede has added the Australian government and a South African bank to its customer list. Additional revenues are accruing for the next phase of the Kuwait national ID program and an existing customer that has purchased Intercede MyID to power a Switzerland-wide electronic identity service.
Intercede's sales activities continue to increase the pipeline of future business. A number of contract awards are also pending imminent closure, and the company is on target to meet full year expectations. Intercede remains in a strong cash position at the end of August.
Richard Parris, Chairman and Chief Executive of Intercede, said:
"Our level of business activity is at an all time high driven by repeat orders against existing contracts, new orders from new customers and a growing pipeline of high value prospects. Although, as expected, we have seen a reduction in UK Government orders compared to the same period last year, this is being compensated for by international orders, particularly from the US."
About Intercede
Intercede is the producer of the MyID Identity and Credential Management System (IDCMS). Intercede's MyID is the only IDCMS software product that enables organisations to easily and securely manage the identities of people and their associated identity credentials within a single, integrated, workflow driven platform. This includes enabling and managing: secure registration, biometric capture, application vetting and approval through to smart card personalisation, issuance and management.
Intercede's MyID is being used around the world by large corporations, governments and banks to manage millions of identities for employees, citizens and customers. Notable deployments in the US include more than 10 Federal Agencies, a program with Lockheed Martin and two major US financial institutions. In Europe and the Middle East, Intercede's MyID is being deployed in support of government identity, health and corporate employee ID security projects.
For more information visit http://www.intercede.com
ENQUIRIES
| Intercede Group plc | Tel. +44 (0)1455 558111 |
| Richard Parris, Chairman & Chief Executive |
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| Andrew Walker, Finance Director |
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| FinnCap | Tel. + 44 (0)20 7600 1658 |
| Clive Carver |
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| Sarah Wharry |
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| Pelham Bell Pottinger | Tel. +44 (0)20 7861 3112 |
| Archie Berens |
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| Francesca Tuckett |
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