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Intec Telecom Systems PLC - Unaudited results for the six
months ended 31 March 2004
Substantial new contracts signed, revenues increased by 41%
and EBITA increased by 212%
Intec Telecom Systems PLC (“Intec” or “the Company”), the
leading global provider of telecoms
Operations Support Systems
(“OSS”) products, is pleased to announce its unaudited results
for the six months ended 31 March 2004, (“HY 2004”). A
combination of strong new license sales across Intec’s main
product lines, increased revenues from both professional
services and recurring business, and generally improved trading
conditions in the telecom sector have driven a 41% increase in
turnover and an increase in adjusted earnings per share of 130%.
Trading conditions continue to be healthy, and providing these
remain stable the Board is confident of satisfying full year
expectations. In addition the Company is engaged in several
major opportunities which, should they conclude and be
recognizable in the current year, will enhance Intec’s financial
performance for the full year.
HIGHLIGHTS
- Turnover of £31.4 million increased by 41% (6 months ended
31 March 2003 (“HY 2003”) £22.3 million) with organic and
acquisition-driven growth in all key activities.
- Earnings before interest, tax, and amortization (“EBITA”)
increased to £3.1 million compared with £1.0 million in HY
2003.
- Adjusted EPS increased by 130% to 1.15p (HY 2003: 0.50p).
- 42 new contracts of which 38 are with new customers. 20
new licenses signed in the period plus 22 new bureau customers
(HY 2003: 27 new contracts signed, plus 31 through
acquisitions).
- Notable customer wins announced in Africa, Brazil, China,
Eastern Europe, Russia, the UK and the USA.
- Revenue and earnings adversely affected by US dollar
depreciation, estimated at £1.3 million and £0.6 million
respectively.
- Operating cash outflow of £0.3 million (HY 2003: inflow of
£2.6 million) after working capital investment in Digiquant
and to support business growth.
- Loss before tax reduced to £1.0 million (HY 2003: loss of
£2.3 million), after depreciation and amortization of goodwill
and intangible assets of £5.3 million (HY 2003: £4.4 million).
- Customer installations reach 574 in 400 operators.
- Intec retains balance sheet strength with cash and cash
equivalent investments of £12.8 million (HY: 2003 £12.3
million).
About Intec
Intec Telecom Systems is an award-winning worldwide Operations
Support Systems (“OSS”) vendor for fixed, mobile and
next-generation networks (ie. WLAN, 3G and IP), with more than
500 installations of its products worldwide. Founded in 1997,
Intec was listed on the London Stock Exchange (Code: ITL.L) in
June 2000. Intec is the market leader in intercarrier billing
systems and convergent mediation software, and a recent winner
of the 2003 Global Billing Award – Best Overall Contribution,
and Telestrategies ‘2003 Mediation Excellence Award’.
Intec’s portfolio includes:
Inter-mediatE™ -
convergent billing and mediation solution
InterconnecT™ -
intercarrier billing including US CABS and ITU
Inter-activatE™ - flow-through provisioning and
service activation
Inter-contenT™ - end-to-end content revenue management
Intec Dynamic Charging Platform™ – a real-time pre/post-paid
charging interface between the network and the back office
Intec ASF™ - end-to-end billing and management for advanced data
services
Intec’s customer base includes, among others, BellSouth,
BellSouth Peru, Brazil Telecom, Cable & Wireless, Cesky Telecom
(Czech Republic), China Unicom, COLT Telecommunications, EBT
(Taiwan), Eircom (Ireland), France Telecom, Hutchison 3G, Maxis
(Malaysia), Singtel Optus (Australia), Orange, Telecom
Argentina, Telecom Egypt, Telecom Italia, Tiscali, TPSA
(Poland), Swisscom, T-Mobile International, Telia (Sweden),
Telefonica, Telkom South Africa, Telstra, US Cellular, Westel
(Hungary), Vodafone, VimpelCom (Russia) and Verizon. For more
information on Intec Telecom Systems, visit the website at
http://www.intec-telecom-systems.com.
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