Interim results for the six months ended 30 September 2014

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

• Existing and new products and solutions gain traction in target markets with significant revenues expected in future periods. As previously announced in our October trading update, first half sales totalled £4,045,000 (H1 2013: £4,614,000).
• Short term and planned operating loss following investment in corporate infrastructure announced previously in our most recent full year results: loss for period of £705,000 (H1 2013: Profit for period of £652,000).
• Basic and fully diluted loss per share of 1.4p (H1 2013: Earnings per share of 1.3p).
• Cash balances of £6,301,000 as at 30 September 2014 (30 September 2013: £7,429,000) demonstrating a strong cash balance to support ongoing investment in business development.
• First orders received for newly announced cloud-based Trusted Application Management service and MyID v10.1 Mobile Derived Credential platform validating product development strategy.
• Significant new and repeat orders in existing and new markets, including US public sector, aerospace and oil & gas.
• On track for year on year growth with further upside potential based on a strong pipeline of opportunities, more and more of which is developing in new markets.

Richard Parris, Chairman and Chief Executive of Intercede, commented: “We have experienced one of our busiest six-month trading periods and, with a team that has grown 50% over the last 18 months, we have never been better placed to exploit the growing need for digital identities across a wide range of corporate, government and consumer markets.

That said, a glut of orders received and recognised at the end of the last period and a delay in seasonal US government orders at the end of this period, has made it that much more difficult to exceed last year’s H1 performance; and the unpredictably of timing of government orders and uncertainty associated with the adoption rates of new technologies are factors that must always be taken into account. However, we have confidence that the high levels of customer engagement experienced in H1 will continue into the second half, leading to a strong end to the financial year.”

Read the full Interim Results

About Intercede
Intercede is a software company specializing in identity and credential management with a global team of experts located in the US and UK.

Intercede’s MyID software enables organizations to create and use trusted digital identities for employees, citizens and machines. This allows secure access to services, facilities, information and networks.

MyID meets the highest government standards yet is simple enough to be deployed onto consumer devices such as smart phones and tablets. Critically, MyID provides an easy, convenient and secure alternative to passwords.

Millions of identities are managed using MyID and Intercede has provided identity verification and management services to global customers for more than 20 years. MyID is a commercial off the shelf software product, designed and developed to be configurable so it can be embedded as the cornerstone of cyber security infrastructure for governments and corporations.

Customers trusting Intercede for secure digital identity include the US and UK governments and some of the world’s largest corporations, telecommunications providers and information technology partners.

For more information visit: www.intercede.com

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Enquiries

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

FinnCap
Tel. + 44 (0)20 7220 0500
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking

Pelham Bell Pottinger
Tel. +44 (0)7802 442486
Archie Berens