Interim Management Statement

RNS Number : 5751B

Intec Telecom Systems PLC

19 August 2008

 



19 August 2008

Intec Telecom Systems

Interim Management Statement

Intec Telecom Systems PLC ("Intec" or the "Group"), a leading global supplier of billing and operations support systems to the telecommunications industry, reports its Interim Management Statement for the period from the 31st of March 2008 to the 18th of August 2008.

Offer period 

On the 8th of May 2008, the Board confirmed that it had received a very preliminary approach in relation to a potential offer for the Group.  Discussions are ongoing and may or may not lead to an offer being made for the Group.  A further statement will be made in due course.

Current trading 

There has been no material change in the financial position of the Group and trading since 31 March 2008 has been consistent with the Board's expectations. All regions are progressing in accordance with their individual plans. We are not currently seeing any impact of the weakening global economy in our marketplace but continue to monitor economic conditions closely.  We continue to make good progress in closing a number of new customer contracts and are delighted with the recent win in North America, announced on the 4th of August 2008.

Our focus continues to be on making our propositions more relevant to our customers and on establishing an organisation which drives growth, manages cost and delivers improved operational efficiencies. 

In June, the management team was strengthened by the appointment of Andy Thorburn as President of Global Sales. Formerly Chief Executive Officer of Chronicle Solutions, his extensive sales management experience and track record of delivering profitable growth, both directly and indirectly through partners, will be a major asset.

Material contracts

On the 4th of August 2008, we announced that we had signed a strategically important eight figure US dollar contract with one of the World's premier financial services companies.  The agreement is one of our largest contracts to date and demonstrates the applicability of our technology to markets outside the telecommunications industry.

In May, a major fixed-line carrier moved into production in our service bureau in Atlanta. This contract will generate revenues of at least $5 million per annum for the next five years.

Outlook

The Board remains confident of the outlook for the full year. 

The Group expects to release its preliminary results for the year ended on the 30th September 2008 on the 25th of November 2008. 

For further information, please contact:

Intec Telecom Systems PLC	www.intecbilling.com
John Hughes, Non-Executive Chairman Andrew Taylor, Chief Executive Officer Robin Taylor, Finance Director	[phone]
College Hill
Adrian Duffield/Carl Franklin	[phone]

About Intec Telecom Systems PLC

Intec supplies billing software solutions to over 70 of the world's top 100 telecoms carriers and is one of the world's leading BSS/OSS (business and operations support systems) vendors. Intec's customers include AT&T, Cable & Wireless, The Carphone Warehouse, China Mobile, Deutsche Telekom, Eircom, France Telecom, Hutchison 3G, Orange, T-Mobile, Telefonica, Telstra, Vodafone, Virgin Mobile, Vivo and Verizon. 

Intec has a comprehensive and expanding range of solutions and services ranging from market leading mediation and convergent billing products through to innovative IMS charging solutions. Intec works closely with its customers, many of whom have been with Intec since its inception, to provide the highest standards of performance, flexibility and robustness to help carriers service their customers effectively and profitably.

Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,700 staff and 34 offices in 26 countries. For more information visit www.intecbilling.com

 

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