- Unaudited results for
nine months ended June 30, 2005 reflect impact of multi-million dollar
contracts and acquired Singl.eView business; earnings increased
substantially with EBITDA up 55%
August 23, 2005, London - Intec Telecom Systems PLC (LSE: ITL.L),
a leading supplier of business and operations support systems (BSS/OSS)
to the global telecoms industry, today announced its unaudited results
for the nine months ended 30 June 2005 ("9m 2005").
Revenue and earnings, in line with market expectations, are
substantially ahead of the same period last year, as a result of both
the Singl.eView acquisition in August 2004 and a growing contribution
from large, multi-product transactions. Continuing investment in product
development, distribution channels and Intec's professional services
capability, backed by strong cost management, has maintained sales
momentum and delivery capability. Recent multi-million dollar contracts,
with high activity levels in new business development, underscore the
continuing strength of the enlarged business.
Financial Highlights
- Revenue up 63% to
�76.5m ($137.7m) compared to 9 months ended 30 June 2004 ("9m
2004"): �46.9m ($84.4m).
- EBITDA before
exceptionals up 55% to �8.5m ($15.3m) compared to 9m 2004:
�5.5m
($9.9m).
- Services revenue up
121% to �30.4m ($54.7m) compared to 9m 2004:
�13.8m ($24.8m).
- Adjusted PBT up 52%
to �5.8m ($10.4m) compared to 9m 2004:
�3.8m ($6.8m).
- Adjusted EPS up 12%
to 1.61p (9m 2004: 1.44p).
- Loss before tax of
(�7.7m) (9m 2004: (�2.2m)) after
�12.3m amortisation charge (9m
2004: �6.0m).
- Operating cash
inflow of �3.8m ($6.8m) compared to 9m 2004: inflow of
�0.1m
($0.18m).
- Net cash &
equivalents of �28.4m ($51.1m) compared to June 30, 2004:
�12.8m
($23m).
Operational Highlights
- Increase in volume
of multi-product and multi-million dollar contracts.
- Notable competitive
wins including VimpelCom, The Carphone Warehouse, and a major US
operator.
- Increase in customer
base to 715 installations within almost 500 customers (June 30,
2004: 585 installations within 409 companies).
- Continuing
investment helps Intec retain technical leadership in core product
areas.
- New technical
facility opened in Bangalore, India.
"Intec's staff and
management team continues to execute very satisfactorily against its
business goals within a global marketplace that remains highly
competitive," said Intec's non-executive Chairman, John Hughes. "The
Singl.eView acquisition, which was completed last year, has proved to be
the transformational transaction that was expected. We have successfully
turned around the business, and it continues to go from strength to
strength. The associated evolution to a primarily Percentage of
Completion revenue recognition model is being well managed. The Company,
its staff, and products are well positioned to maximize the growth
opportunities that lie ahead."
"The multi-product, multi-million pound contract wins we are achieving,
and our growing participation in leading-edge projects, indicate the
continuing momentum and potential of the business," added Intec CEO,
Kevin Adams.
"Intec has an unmatched product range, a substantial and proven global
delivery capability, and a broad customer base. These are vital assets
in our quest for continued growth in the OSS/BSS market."
About Intec
Intec is a leading Business & Operations Support Systems (BSS/OSS)
vendor for fixed, mobile,
MVNO and
next-generation networks (e.g.
WLAN,
3G
and
IP),
with more than 700 installations of its products worldwide in 500
customers. Founded in 1997, Intec was listed on the London Stock
Exchange in June 2000. Intec is a market leader in billing, mediation,
mobile service charging, wholesale trading and service activation
systems. For the year ended 30 September 2004 , Intec reported revenues
of �68.8 million, with adjusted net earnings after tax of �8.7 million.
Intec's product portfolio includes:
Singl.eView� - retail/customer
billing and management,
convergent billing;
Inter-mediatE� - multi-service
mediation solution;
InterconnecT� - inter-carrier
billing including US CABS and ITU-based
settlement;
Inter-activatE� - flow-through
provisioning and activation;
InterconnecT CPM� - end-to-end
content partner management;
InterconnecT Optimised Routing� -
optimised
wholesale routing and trading;
Intec DCP� (Dynamic Charging Platform) � real-time
pre/post-paid charging;
InterconnecT CABS CG - carrier access
billing solution for US
telecommunications providers.
Intec's customer base includes, among others, BellSouth, BellSouth Peru,
Cable & Wireless, The Carphone Warehouse (UK), Cesky Telecom (Czech
Republic), China Unicom, COLT Telecommunications, Deutsche Telekom, EBT
(Taiwan), Eircom (Ireland), France Telecom, Hutchison 3G, Maxis
(Malaysia), MTN, Nitel (Nigeria), Reliance (India), SingTel Optus
(Australia), O2 Ireland, Orange, Telecom Argentina, Telecom Egypt,
Telecom Italia, Tiscali, TPSA (Poland), Swisscom, T-Mobile
International, Telefonica, Telia (Sweden), Telkom South Africa, Telstra,
US Cellular, Westel (Hungary), Vodafone, VimpelCom (Russia), Virgin
Mobile, Vivo (Brasil), XO Communications and Verizon.
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