Intercede - Preliminary Results for the Year Ended 31 March 2008
20/05/2008
Intercede, one of the world’s leading developers and suppliers of identity management software, today announces its preliminary results for the year ended 31 March 2008.
SUMMARY
- Sales increased by 7% from £2.6m to £2.8m.
- Further improvement in gross margin to 99% (2007: 97%).
- Loss for the year reduced from £379k to £87k.
- Cash inflow of £0.5m during the year, which includes £0.7m raised in the May 2007 Placing (2007: £0.5m outflow).
- Cash balances of £1.15m (2007: £0.65m) at the financial year end.
- Launch of MyID Version 8.0 which is the only solution of its kind to deliver registration, ID verification and card/device issuance and life cycle management within a single product.
- Continuing progress with business partners and systems integrators to build a global distribution model.
- Stronger pipeline than ever before; the 10 largest projects alone have the potential to generate aggregate sales of at least £15m over the next 5 years.
- Recession proof business drivers give cause for optimism.
Richard Parris, Chairman & Chief Executive of Intercede, said today:
“This year has seen Intercede engaged on 10 major projects that both generally and individually demonstrate our strong technology capabilities and market position. This is a considerable advancement from where we were even two years ago. Intercede has emerged from a period of ‘silent running’ with the strongest identity and credential management system in the world. We have developed an unrivaled network of global partners and Systems Integrators licensing our patented technology.
“As a result, Intercede is now firmly established as the ‘go-to’ partner for any technology provider that needs to add identity and credential management to their solutions portfolio, which suggests we have created an industry standard. Having established this firm foundation, Intercede now looks forward to a period of rapid growth in one of the few recession proof markets available to investors.”
About Intercede
Intercede Group plc is a leading developer and supplier of smart card and identity management software listed on the London Stock Exchange (IGP LN) (IGP.L). Intercede’s MyID software manages the secure registration, issuance and lifecycle of digital identities for a wide range of uses. This requires the integration of multiple technologies and products from many different vendors, including smart cards, biometrics, digital certificates, Open Platform applets and physical access control systems.
Intercede works with a number of market leading OEM, re-seller and technology partners that supply MyID technology to the global market place including: Athena Smartcard Solutions, Gemalto, Oberthur Card Systems, Oracle, RSA Security, SafeNet, Thales, VeriSign and a variety of systems integrators and other security product and service providers.
Intercede and MyID are registered trademarks or trademarks in the UK, US and/or other countries.
For more information visit http://www.intercede.com
CLICK HERE TO DOWNLOAD THE COMPLETE PRELIMINARY RESULTS (PDF)
Back to top