Year End Trading Update

RNS Number : 8697A

Intercede Group PLC

05 April 2012

 



5 April 2012

Intercede Group plc

("Intercede")

Year End Trading Update

Further to the Trading Update issued on 16 February 2012, Intercede confirms that the financial year ending 31 March 2012 will be profitable and cash generating. Pre-audit indications are that revenues will be ahead of the prior year and profits will be in line with expectations. Cash balances totalled £7.0m as at 31 March 2012, which compares to £6.0m at the same time last year.

We continue to invest according to plan to meet emerging market demands in cloud services, cyber-security and mobile device management. Additionally, Intercede has invested in four new 'identity as a service' opportunities with partners. Only one of these services has contributed to current year performance but all are likely provide recurring revenues in future periods. Three of these services are through partners in the US.

Richard Parris, Intercede Chairman and Chief Executive, said:

"Intercede is in a stronger position than a year ago both financially and operationally despite a depressed global economy; and the orders we have received demonstrate that we remain the technology leaders in our sector. We remain committed to investing in the development of market leading technology to meet demand for identity focused services around the world and in the US in particular. As we continue to grow our sales infrastructure and support capability, we are increasingly better placed to exploit this growth potential."

Intercede expects to announce its results for the year ended 31 March 2012 by mid June 2012.

ENQUIRIES

Intercede Group plc	Tel.      [phone]
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
FinnCap	Tel.      + 44 (0)20 7220 0500
Sarah Wharry
Rose Herbert
Pelham Bell Pottinger	Tel.      [phone]
Archie Berens

About Intercede

Intercede is the producer of the MyID® identity and credential management system (IDCMS), the MyID Management Agent for Microsoft® Forefront™ Identity Manager and a range of mobile applications for securing smartphones.

The company's website has recently been re-launched to better reflect its enhanced proposition. For more information visit www.intercede.com, email [e-mail] or call [phone].

MyID technology 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 14 federal agencies, two million smart cards in support of the US Transportation Worker Identity Credential program (TWIC), four US financial institutions and 340,000 smart corporate identity badges for Boeing, Booz Allen Hamilton and Lockheed Martin. In Europe, Australasia and the Middle East, MyID is being deployed in support of government identity, financial services, healthcare and corporate employee ID security projects.

MyID is the only IDCMS software product that enables organizations to easily and securely manage the identities of people, secure devices and their associated 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 and smartphone personalization, issuance and management.

At the forefront of the secure identity field, Intercede also offers innovative new solutions for smartphones, including secure email, physical and logical access, identity verification via near field communications and attribute management. With the trend towards 'bring your own device' in the workplace and the move to cloud-based services, MyID allows organizations to embrace new and more convenient approaches to security.

MyID was the first electronic personalization product to achieve compliance with the US FIPS-201 Personal Identity Verification (PIV) standard and is widely deployed by federal agencies, government contractors and other commercial entities. In particular, it supports the latest standards applicable for all PIV, PIV-Interoperable and PIV-Compatible (CIV) deployments.

MyID provides customers with a platform that can meet their needs now and in the future. It is a fully supported commercial off-the-shelf product that can be quickly deployed for thousands or millions of users.

 

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