Preliminary results for the year ended March 31, 2013

Date: June 3rd 2013 | Author: Rik Merrikin | Topic: RNS

Intercede, one of the world’s leading software providers, today announces its preliminary results for the year ended 31 March 2013.

SUMMARY

  • Resilient financial performance in line with February Trading Update:
    • Sales £6.7m (2012: £7.0m) include North American sales 7% higher at £4.8m (2012: £4.5m).
    • Admin expenses £7.5m (2012: £6.0m) reflect planned investment in infrastructure, technology development and sales capacity.
    • Headcount increased to 80 at 31 March 2013 (2012: 70).
    • Loss before tax in line with expectations at £0.7m (2012: Profit before tax £0.9m).
    • Loss per share 1.2p (2012: Earnings per share 1.4p).
    • Cash balances of £6.8m remain strong at 31 March 2013 (2012: £7.0m)
  • Won a major homeland security project since the year end for a G8 government with a contract value likely to exceed £1.5m in the year ended 31 March 2014 and £10.0m over a five year period.
  • Increase in the number of digital identities under management by MyID to 7m (2012: 5m).
  • New technology to manage virtual smartcards and the security of mobile devices showcased in partnership with Microsoft and GSMA.

Richard Parris, Chairman & Chief Executive of Intercede, said today: “I am pleased to report that Intercede is making good progress towards the realization of its 2020 vision as the market validates that our commercial vision is an ‘Idea whose Time has Come’. For the last ten years Intercede has been building a solid technology and reference customer base in anticipation of widespread adoption of digital identities for business and personal use. During this period Intercede has built a leadership position in a highly selective market.

“In 2014 we plan to exploit this established position as the product life cycle moves from early adoption into a high growth phase. This growth will be inexorably driven by the ubiquity of the Cloud, trusted computing on smartphones and tablets, cyber security threats and the cost savings to be harvested from on-line citizen service provision. I am confident that Intercede will emerge as one of the successful competitors in our sector, thereby adding significant shareholder value.”

For more information, read the full report.

About Intercede
Intercede® is a security software provider whose MyID® identity management platform enables global organizations and governments to create trusted digital identities for employees and citizens on secure devices such as smart cards, smartphones and tablets. MyID enables the protection of IP, assets, and digital content, delivering trusted digital identities as the cornerstone of cyber security strategies for government, defense, financial services and other industries.

Intercede has been developing ID management systems since 1992 and MyID is currently deployed by end customers located in 24 countries. The company is headquartered in the United Kingdom, listed on the London Stock Exchange AIM: IGP and ISO 9001 and TickIT certified.

For more information please visit www.intercede.com.

Enquiries

Intercede Group plc
Tel.+44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director

FinnCap
Tel. +44 (0)207 2200500
Stuart Andrews/Rose Herbert, Corporate Finance
Joanna Weaving, Corporate Broking

Pelham Bell Pottinger
Tel.+44 (0)207 8613112
Archie Berens


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