Intercede Group PLC
27 March 2007
27 MARCH 2007
INTERCEDE GROUP PLC
('Intercede' or 'the Company')
Trading Update for the Full Year to 31 March 2007
Following the announcement of a number of contract wins during the final quarter
of 2006, Intercede has continued to work closely both with its partners and with
major systems integrators and service providers on an increasing number of US
Federal Government opportunities. These opportunities have arisen as a result of
HSPD-12, a Presidential Directive which requires all US Federal Government
employees and contractors to have a state-of-the-art smart card based identity
card complying with a new standard of Personal Identity Verification.
Most recently, we can report that Intercede's MyID technology has been selected
though our partner network for the next phase of the Transportation Worker
Identification Credential (TWIC) program. In parallel with HSPD-12, the TWIC
program requires the issuance of a smart card containing biometric information
to specified maritime workers at ports and vessels regulated by the US
Transportation Security Administration and the US Coast Guard. This is a
multi-year contract with more than 750,000 individuals forecast to require TWIC
smart cards.
In addition, we have also been informed that Intercede's MyID technology is to
be adopted by two further major systems integrators in support of specific
funded programs in the aerospace and defense sectors.
The timelines for product procurement and delivery of the above programs have
yet to be fully established. Thus, although Intercede's technology is rapidly
gaining traction, the financial impact of all of these activities is not yet
clear.
In addition to the success Intercede is enjoying in relation to the US Federal
Government market, the Group is also experiencing a growing interest in the use
of its technology in other areas and territories, notable examples being the
healthcare and financial markets.
Following the progress made during the year, the Board expects revenue for the
full year to 31 March 2007 to be no less than 20% higher than last year, which
does not take into account the possible reporting of any late partner wins. The
Group has also been cash generative since 30 September 2006.
Intercede expects to announce its full year results for the year ended 31 March
2007 by the end of May/early June 2007.
About Intercede
Intercede Group plc is a leading developer and supplier of smart card and
identity management software listed on the London Stock Exchange (IGP LN)
(IGP.L). Intercede's MyID software manages the secure registration, issuance and
lifecycle of digital identities for a wide range of uses. This requires the
integration of multiple technologies and products from many different vendors,
including smart cards, biometrics, digital certificates and Open Platform
applets.
Intercede works with a number of market leading OEM, re-seller and technology
partners that supply MyID technology including: Athena Smartcard Solutions,
Gemalto, Oberthur Card Systems, RSA Security, SafeNet, Thales, VeriSign and a
variety of systems integrators and other security product and service providers.
Intercede and MyID are registered trademarks or trademarks in the UK, US and/or
other countries. For more information visit http://www.intercede.com
ENQUIRIES
Intercede Group plc Tel. +44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Pelham Public Relations
Archie Berens Tel. +44 (0)20 7743 6679
Kate Catchpole Tel. +44 (0)7803 033 43
This information is provided by RNS
The company news service from the London Stock Exchange
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