“We continue to have strong momentum in the business, with a doubling of new licence revenue,” said Intec’s Executive Chairman, Mike Frayne. “All regions and product lines are performing well in a market that is very competitive, and we have improved our earnings performance through ongoing cost management, despite the need to invest in a growing business. I believe that Intec can deliver another strong performance for the full year. In addition to this, our announced agreement to acquire the Singl.eView business from ADC will transform Intec into a company capable of delivering to major carriers what we believe will be one of the broadest ranges of OSS products in the world.”

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“Intec has signed many new customers in the past three quarters, including our largest order to date in Indonesia,” added Chief Executive Kevin Adams. “Our growing portfolio of major OSS applications enables us to offer our customers a proven range of interoperable systems that they can implement with confidence, knowing that Intec is a successful, stable supplier with global capabilities. The proposed acquisition of Singl.eView builds directly on this capability with an award-winning, tier one retail billing and customer care system used by over 70 carriers.”

 * Telecom Billing by Intec
 * CLEC - billing information for CLECs

Dynamic Charging - The Intec Dynamic Charging Platform (DCP) is a solution for wireless carriers that enables real-time, value based charging of advanced data network services such as IP data, content, mobile commerce and location-based services.

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Intec Telecom Systems Announces Q3 2004 results: revenues increased by 41% and EBITA increased by 274%

Intec Telecom Systems PLC - Unaudited results for the 9 months ended 30 June 2004

Substantial new contracts signed, revenues increased by 41% and EBITA increased by 274%

Intec Telecom Systems PLC (“Intec” or “the Company”), a leading global provider of telecoms Operations Support Systems (“OSS”) products, is pleased to announce its unaudited results for the nine months ended 30 June 2004, (“Q3 2004”). A 96% increase in new licence sales, with good activity across all product lines, plus solid increases in both recurring income and professional services, have driven revenues up by 41% and adjusted earnings per share by 172%. Trading in the final quarter of the year continues to be healthy, despite ongoing competition in the telecoms sector, and the Board is confident of satisfying full year expectations.

In addition the Company announced on 4 June 2004 that it has agreed to acquire the ‘Singl.eView’ billing and customer care division of ADC Telecommunications (“ADC”) for $74.5 million. This transaction, which is subject to shareholder approval, is expected to close later in the summer. The circular to shareholders has been issued today and details can be found in a separate statement made by the Company this morning.

Financial Highlights

  • Turnover of £46.9 million increased by 41% (9 months ended 30 June 2003 (“9m 2003”): £33.2 million) with organic and acquisition-driven growth in all key activities.
  • Gross margin increased to 71% (9m 2003: 68%) reflecting higher margin on improved licence revenue
  • Earnings before interest, tax, and amortisation (“EBITA”) increased to £3.7 million compared with £1.2 million for 9m 2003.
  • Adjusted EPS increased by 172% to 1.44p (9m 2003: 0.53p).
  • Revenue and earnings adversely affected by US dollar depreciation, estimated at £2.0 million and £0.8 million respectively.
  • Operating cash inflow of £0.1 million (9m 2003: inflow of £5.5 million) after working capital investment in acquisitions and to support business growth.
  • Loss before tax reduced to £2.2 million (9m 2003: loss of £3.9 million), after depreciation and amortisation of goodwill and intangible assets of £7.8 million (9m 2003: £6.7 million).

Operating Highlights

  • 51 new contracts since the start of the financial year of which 47 are with new customers. 25 new licenses signed in the period plus 26 new bureau customers (9m 2003: 40 new contracts signed, plus 31 through acquisitions).
  • Notable customer wins announced in Africa, Asia, Eastern Europe, Russia, and the USA.
  • Customer installations reach 585 in 409 operators – up from 574 at the end of Q2.
  • 30% increase in investment in product development
  • Intec retains balance sheet strength with cash and cash equivalent investments of £12.9 million
    (9m 2003 £14.0 million).

About Intec
Intec is the world’s leading billing and Operations Support Systems (“OSS”) product vendor for fixed, mobile and next-generation networks (i.e. WLAN, 3G and IP), with more than 570 installations of its products worldwide in over 400 customers. Founded in 1997, Intec was listed on the London Stock Exchange (Code: ITL.L) in June 2000. In 2003 Intec reported revenues of £50.7 million, with adjusted net earnings after tax of £4.1 million.

Intec’s product portfolio includes:
• Inter-mediatE™ - billing mediation software solution
Interconnect and Billing - inter-carrier billing including US CABS and ITU-based settlement
• Inter-activatE™ - flow-through provisioning and wireless service activation
• Intec CPM™ - end-to-end content partner management
• Intec DCP™ (Dynamic Charging Platform) – a real-time pre/post-paid charging interface between the network and the back office

Intec’s telecom software customer base includes, among others, BellSouth, BellSouth Peru, Brazil Telecom, Cable & Wireless, Cesky Telecom (Czech Republic), China Unicom, COLT Telecommunications, EBT (Taiwan), Eircom (Ireland), Energis, France Telecom, Hutchison 3G, Maxis (Malaysia), Nitel (Nigeria), Reliance (India), Singtel Optus (Australia), O2 Ireland, 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), Vivo (Brasil) and Verizon.

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