There are also a number of new technology-led trends that provide additional opportunities for Intercede; for example mobile device security and the deployment of digital patient identities in healthcare. The outlook is therefore extremely positive.
Lutterworth, UK (PRWEB) June 11, 2012
Intercede, one of the world’s leading digital identity software providers, today announced its preliminary results for the year ended March 31, 2012.
- Continued robust financial performance:
o Sales revenues increased from £6.9m to £7.0m
o Profit before tax of £0.9m (2011: £2.0m)
o Fully diluted EPS 1.4p (2011: 4.1p)
o Increased cash balances of £7.0m at 31 March 2012 (2011: £6.0m)
- New customer accounts contributed 21% of total sales with the number of user licences issued rising to over five million
- Sales in North America have grown strongly as a result of several big wins to contribute over 64% of total sales
- Significant development of technology to manage virtual identity credentials and security of mobile devices
- Collaboration on multiple tender responses for large scale US Federal identity programs
- Implementations at a broad range of global customers including ANZ Bank, Booz Allen Hamilton, BASF, Boeing, HealthSmart Australia, Lockheed Martin and Swedbank
- Increasing managed service/Software as a Service (SaaS) activity; revenues in excess of £0.5m
- Additional office space and staff recruitment in the UK and US to support next phase of growth
Richard Parris, Chairman and Chief Executive of Intercede, said: “There is an increasingly irresistible case for believing that the digital identity market is rapidly moving to mass adoption. For an organization to fully exploit this opportunity it needs to have developed a suitably robust technology platform, entrenched itself in the market and scaled up its infrastructure. Intercede has spent many years achieving the first two of these goals and I’m pleased to report that we have made significant progress towards achieving the third. The investment we have made this year in our sales and delivery capability gives us a real competitive advantage.
Our pipeline of commercial opportunities continues to grow as we seek to deepen our penetration of the markets where Intercede’s MyID® digital identity technology has become an industry standard. There are also a number of new technology-led trends that provide additional opportunities for Intercede; for example mobile device security and the deployment of digital patient identities in healthcare. The outlook is therefore extremely positive.”
Intercede is a security software provider whose MyID identity management platform enables global organizations and governments to create trusted digital identities for employees and citizens on secure devices such as smart cards, smartphones and tablets. MyID enables the protection of intellectual property, assets and digital content, delivering trusted digital identities as the cornerstone of cyber security strategies for government, defense, financial services and other industries.
The Company operates in global markets (including the US, Europe and Middle East) and works with large international partners including BT, Gemalto, HP, Microsoft, Oberthur, SafeNet, Symantec and Thales to deliver flexible digital identity solutions that are interoperable with other existing technologies and tailored to customer needs.
Corporations such as Boeing, Booz Allen Hamilton and Lockheed Martin, and governments including the US, UK and Kuwait, trust Intercede’s expertise to deliver effective solutions. The Company’s technology achievements reflect an investment of 300 plus man years of development, exemplary speed of deployment and adherence to international standards including FIPS 201, where MyID was the first electronic personalization product to obtain GSA approval. This trust is reflected in Intercede’s rate of repeat business with its customers, which typically runs at 70-80% of annual revenues.
Intercede has been developing identity management systems since 1992 and MyID is currently deployed by end customers in 24 countries. The company is headquartered in the UK, listed on the London Stock Exchange (AIM: IGP) and is ISO 9001 and TickIT certified. For more information visit http://www.intercede.com
Intercede Group plc
Tel.+44 (0)1455 558111
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Sarah Wharry, Corporate Finance
Rose Herbert, Corporate Finance
Joanna Weaving, Corporate Broking
Pelham Bell Pottinger