London, UK (PRWEB) April 2, 2009
Further to Intercede's (LON: IGP.L) Trading Update on 5 February 2009, we are pleased to report that the Company is continuing to experience high levels of interest in and demand for its MyID technology.
Pre audit indications of the results for the year ended 31 March 2009 are that revenues are likely to be more than 90% ahead of the previous year's reported revenues of £2.8m. A full year profit has been achieved for the first time in the Group's history and earnings before interest and tax are anticipated to exceed £1m. As a result of this performance, the cash balance at 31 March 2009 was £3.7m, compared to £1.2m at the same time last year.
This acceleration in Intercede's growth reflects the continued momentum from the Company's involvement in an increasing number of projects around the world with a consequential increase in revenues from software license sales, associated support & maintenance and the delivery of ongoing professional services assistance.
Intercede Chairman and Chief Executive Richard Parris said, "I am pleased to report a strengthening in demand for Intercede's products from both national governments and large enterprise customers. This is generating attractive financial returns at a time when general economic conditions around the world are difficult."
Intercede expects to announce its full year results for the year ended 31 March 2009 by mid June 2009.
Intercede is the producer of the MyID® Identity and Credential Management System (IDCMS). Intercede's MyID is the only IDCMS software product that enables organizations to easily and securely manage the identities of people and their associated identity 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 personalization, issuance and management.
Intercede's MyID 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 10 Federal Agencies, a programme with Lockheed Martin and two major US financial institutions. In Europe and the Middle East, Intercede's MyID is being deployed in support of government identity, health and corporate employee ID security projects.
Intercede and MyID are registered trademarks or trademarks in the UK, US and/or other countries. For more information visit http://www.intercede.com