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.
Intercede is pleased to provide a trading update for the year ended 31 March 2015. Revenues are expected to be approximately 10% lower than the prior year with cash balances remaining strong at £5.9 million (2014: £7.2m).
As previously announced, this slight reduction in turnover from the prior year reflects continuing delays in the receipt of scheduled orders mainly from existing US government customers and committed European projects. There are also a number of exciting new customers that have either recently been signed or are approaching signature that will not make a material contribution before next year and beyond.
It is reiterated that, while these delays have resulted in a reduction in FY15 revenues, they do not structurally reduce the future demand for Intercede products nor do they impact the Group’s strong growth prospects. There are increasingly high levels of interest in the Group’s mobile digital identity technology and services from global OEMs, governments and major corporations. Consequently, the Board is even more confident than previously stated in its business strategy and accordingly is driving forward with its investment plan.
As in prior years, Intercede intends to announce audited financial results for the year ended 31 March 2015 during the early part of June.
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 smartphones 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 cybersecurity 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.
Intercede Group plc
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Tel. +44 (0)1455 558 111
Stuart Andrews, Corporate Finance
Joanna Weaving, Corporate Broking
Tel. +44 (0)20 7220 0500
Tel. +44 (0)7802 442486