Trading Update

27 Mar 2007 07:02

Intercede Group PLC27 March 2007 27 MARCH 2007 INTERCEDE GROUP PLC ("Intercede" or "the Company") Trading Update for the Full Year to 31 March 2007 Following the announcement of a number of contract wins during the final quarterof 2006, Intercede has continued to work closely both with its partners and withmajor systems integrators and service providers on an increasing number of USFederal Government opportunities. These opportunities have arisen as a result ofHSPD-12, a Presidential Directive which requires all US Federal Governmentemployees and contractors to have a state-of-the-art smart card based identitycard complying with a new standard of Personal Identity Verification. Most recently, we can report that Intercede's MyID technology has been selectedthough our partner network for the next phase of the Transportation WorkerIdentification Credential (TWIC) program. In parallel with HSPD-12, the TWICprogram requires the issuance of a smart card containing biometric informationto specified maritime workers at ports and vessels regulated by the USTransportation Security Administration and the US Coast Guard. This is amulti-year contract with more than 750,000 individuals forecast to require TWICsmart cards. In addition, we have also been informed that Intercede's MyID technology is tobe adopted by two further major systems integrators in support of specificfunded programs in the aerospace and defense sectors. The timelines for product procurement and delivery of the above programs haveyet to be fully established. Thus, although Intercede's technology is rapidlygaining traction, the financial impact of all of these activities is not yetclear. In addition to the success Intercede is enjoying in relation to the US FederalGovernment market, the Group is also experiencing a growing interest in the useof its technology in other areas and territories, notable examples being thehealthcare and financial markets. Following the progress made during the year, the Board expects revenue for thefull year to 31 March 2007 to be no less than 20% higher than last year, whichdoes not take into account the possible reporting of any late partner wins. TheGroup has also been cash generative since 30 September 2006. Intercede expects to announce its full year results for the year ended 31 March2007 by the end of May/early June 2007. About Intercede Intercede Group plc is a leading developer and supplier of smart card andidentity management software listed on the London Stock Exchange (IGP LN)(IGP.L). Intercede's MyID software manages the secure registration, issuance andlifecycle of digital identities for a wide range of uses. This requires theintegration of multiple technologies and products from many different vendors,including smart cards, biometrics, digital certificates and Open Platformapplets. Intercede works with a number of market leading OEM, re-seller and technologypartners that supply MyID technology including: Athena Smartcard Solutions,Gemalto, Oberthur Card Systems, RSA Security, SafeNet, Thales, VeriSign and avariety of systems integrators and other security product and service providers. Intercede and MyID are registered trademarks or trademarks in the UK, US and/orother countries. For more information visit http://www.intercede.com ENQUIRIESIntercede Group plc Tel. +44 (0)1455 558111Richard Parris, Chairman & Chief ExecutiveAndrew Walker, Finance Director Pelham Public RelationsArchie Berens Tel. +44 (0)20 7743 6679Kate Catchpole Tel. +44 (0)7803 033 43 This information is provided by RNS The company news service from the London Stock Exchange