Interim Management Statement

RNS Number : 3087N

Intec Telecom Systems PLC

16 February 2009

 



16 February 2009

Intec Telecom Systems PLC

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 in accordance with the EU Transparency Directive  its Interim Management Statement for the period from 1 October 2008 to 16 February 2009.  

Performance for the financial year to date is in line with management expectations.  On a constant currency basis, we anticipate delivering substantially higher revenues and operating profits for the first half ending 31 March 2009 than for the comparable period in 2008.  Cash has increased during the first four months of the year and was in excess of £40million at 31 January 2009.

We continue to monitor our pipeline closely and regularly track customer sentiment and intentions across all geographical  regions.  We are now beginning to see some weakness in the Asia Pacific region but the Europe Middle East and Africa region and the Americas region are performing as expected.

 As communicated in November, we continue to manage costs by reference to the strength and visibility of our pipeline across our global business.  With the weakening of demand in the Asia Pacific region and in recognition of the global economic uncertainty, we have decided to protect future profits and cash by  continuing to reduce our overall cost base.  

Outlook

Despite the challenging economic environment, we have good visibility that underpins our first half outlook  and we expect a more even distribution of revenues across H1 and H2 than in FY2008.  While it is too early to provide guidance on our full year outcome, we will provide a further update in May.

 The Group expects to release its interim results for the half year ending 31 March 2009 on 21 May 2009.

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For further information, please contact:  

Intec Telecom Systems PLC	[phone]
Andrew Taylor, Chief Executive Officer	www.intecbilling.com
Robin Taylor, Finance Director
Financial Dynamics	[phone]
Giles Sanderson / Juliet Clarke / Haya Chelhot

About Intec

Intec supplies solutions to over 70 of the world's top 100 telecoms carriers and is one of the world's fastest growing major BSS/OSS (business and operations support systems) vendors. Intec's 400 plus customers include AT&T, Cable & Wireless, The Carphone Warehouse (UK), China Unicom, Deutsche Telekom, Eircom (Ireland), France Telecom, Hutchison 3G, O2, Orange, T-Mobile, Telefonica, Vodafone, Virgin Mobile, Vivo and Verizon. 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. Intec's comprehensive and expanding range of products, solutions and services includes:

•         Retail billing and customer management

•         Multi-service mediation and activation

•         Inter-carrier billing settlements including US CABS and ITU-based settlement 

•         End-to-end content partner management

•         Optimised wholesale routing and trading 

•         Real-time pre/post-paid mediation and charging

•         Pre-integrated solutions for wholesale, wireless and core IMS charging functions

Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,600 staff and 28 offices in 22 countries. For more information, visit the Intec website at www.intecbilling.com.

 

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