IGP Intercede Group Plc

 

TIDMIGP 
 
RNS Number : 8639J 
Intercede Group PLC 
08 April 2010 
 

8 April 2010 
                              Intercede Group plc 
                                  ("Intercede") 
 
                Trading Update for the Full Year to 31 March 2010 
 
We are pleased to report that Intercede is continuing to experience growth in 
sales revenues, pre-exceptional operating profit and cash. 
 
Revenues for the year ended 31 March 2010 are expected to be approximately 10% 
ahead of the previous year's reported revenues of GBP5.7m. This is a strong 
performance in a difficult economic market. However, with sales slightly below 
expectations and having maintained our planned investment for the growth of the 
business, the pre-exceptional operating profit for the year (2009: GBP1.9m) will 
be ahead of last year but lower than market expectations. 
 
Cash balances at 31 March 2010 total GBP4.7m which compares to GBP3.7m at 31 
March 2009. 
 
As previously announced, the US and UK patent litigations involving 
ActivIdentity were settled on 23 March 2010. The exceptional charge to the 
current financial year for all of the legal fees and associated costs relating 
to this case is expected to be in the region of GBP1.5m. No further legal costs 
are expected to arise and, as previously advised, it is not anticipated that the 
patent license agreement included within the settlement will have a material 
impact on Intercede's current or future earnings. 
 
Intercede Chairman and Chief Executive Richard Parris said: 
 
 "I am pleased to report an improved trading performance against a backdrop of 
the increasing adoption of our technology by national governments, managed 
service providers and large enterprise customers. Our increasing market 
penetration has not only provided financial returns in the current period but is 
also creating annuity revenue streams for the future." 
 
Intercede expects to announce its full year results for the year ended 31 March 
2010 by mid June 2010. 
 
About Intercede 
 
Intercede is the producer of the MyID  Identity and Credential Management System 
(IDCMS). Intercede's MyID is the only IDCMS software product that enables 
organizations to easily and securely manage the identities of people and their 
associated identity credentials within a single, integrated, workflow driven 
platform. This includes enabling and managing: secure registration, biometric 
capture, application vetting and approval through to smart card personalisation, 
issuance and management. 
 
Intercede's MyID is being used around the world by large corporations, 
governments and banks to manage millions of identities for employees, citizens 
and customers. Notable deployments in the US include 10 Federal Agencies, a 
program with Lockheed Martin and two major US financial institutions. In Europe 
and the Middle East, Intercede's MyID is being deployed in support of government 
identity, health and corporate employee ID security projects. 
 
For more information visit http://www.intercede.com 
 
ENQUIRIES 
Intercede Group plc 
Richard Parris, Chairman & Chief Executive 
Andrew Walker, Finance Director 
Tel.  +44 (0)1455 558111 
FinnCap 
Clive Carver- Corporate Finance 
Joanna Weaving - Corporate Broking 
Tel. +44 (0)20 7600 1658 
Pelham Bell Pottinger 
Archie Berens / Francesca Tuckett 
Tel. +44 (0)20 7337 1509 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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