.Intec Telecom Systems PLC Releases Audited Preliminary
Results for the Year Ended September 30, 2004
— Adjusted profit before tax up 54% on revenue increase of
London/Atlanta, November 30, 2004 - Intec Telecom Systems
PLC (“Intec” or “the Company”) [LSE: ITL], a global provider of
enterprise-level software and services, today announced its
audited results for the year ended September 30, 2004. The
Company reported growth of over 35% in both profitability and
revenues, positive operating cash flow despite continued strong
investment in business growth, and a total of 100 new customers
won or acquired in fiscal 2004. During the year Intec also made
an important acquisition, the ‘Singl.eView’ retail billing
business of ADC, which is now generating substantial new
business opportunities for the company.
Intec Telecom Systems Financial and Operating Highlights
- Revenues for the year ended September 30, 2004 increased
by 36% (30% organic) to £68.8 million ($130.38 million) [year
ended 30 September 2003: £50.7 million ($90.3 million)].
- Adjusted profit before tax substantially increased to £8.3
million ($15.7 million) [2003: £5.4 million ($9.6 million)].
- Positive operating cash inflow of £4.6 million ($8.7
million) generated during the year [2003: inflow of £8.5
million ($15 million).
- Operating loss of £1.4 million ($2.7 million) [2003: £1.9
million ($3.4 million)] attributable to goodwill and
intangible amortisation of £8.8 million ($16.7 million).
- Loss before tax £1.2 million ($2.3 million) [2003: £1.8
million ($3.2 million)].
- Customer base increased by 27% to 465, with important new
customer wins in the UK, US, Europe, Latin America, and Asia.
- $74.5 million acquisition of ‘Singl.eView’ retail billing
business concluded during the year.
- Gross margin improved to 72% (2003: 70%).
- Cash and cash equivalents stand at £32.2 million ($61
million) [2003: £15.3 million ($27.2 million].
- Several new products introduced to complement core billing
and mediation families.
- Strong pipeline for 2005.
Intec CEO Kevin Adams added, “Intec has won and acquired
many new customers in 2004, including a number of
multi-million Pound contracts around the world. Execution
of our long-term strategy of high-quality, profitable
growth has continued, with expansion in all areas of the
business. Integrating Singl.eView, although clearly a
large project, and restoring sales momentum to its
pipeline, are both progressing very well, and we are
cautiously confident that we can meet our objectives in
About Intec Billing
Intec is a leading OSS product vendor for fixed, mobile and
next-generation networks (i.e. WLAN, 3G and IP), with more than
650 installations of its products worldwide in 450 customers.
Founded in 1997, Intec was listed on the London Stock Exchange
in June 2000. Intec is a market leader in inter-carrier billing
systems and convergent mediation software, and has recently
acquired strong capabilities in retail billing, IP billing and
real-time mobile service charging and control. For the year
ended 30 September 2003, Intec reported revenues of £50.7
million, with adjusted net earnings after tax of £4.1 million.
Intec’s product portfolio includes:
· Singl.eView™ – dynamic transaction management/retail
- also referred to as
· Inter-mediatE™ –
convergent billing mediation solution;
· InterconnecT™ – inter-carrier
billing including US CABS and
· Inter-activatE™ – flow-through
provisioning and activation;
· InterconnecT CPM™ – end-to-end content partner management; and
· Intec DCP™ (Dynamic Charging Platform) – real-time
For more information about Intec and its products and solutions
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