Intec Telecom Systems PLC announced its audited results for the year ended 30 September 2008.
*** Revenue up 9% to £135.8m (as of today, USD $ 202.2 million) with 2007: £124.5m (as of today, USD $ 185.4m)
*** Adjusted EBITDA* up 24% to £18.2m (as of today, USD $ 27.1m) with 2007: £14.7m (as of today, USD $ 21.9m)
*** Adjusted profit* before tax up 52% to £13.2m (as of today, USD $ 19.7m) with 2007: £8.7m (as of today, USD $ 13.0m)
*** Reported profit before tax of £13.7m (as of today, USD $ 20.4m) with 2007: Loss of £7.5m (as of today, USD $ 11.2m)
*** Adjusted earnings per share* up 26% to 2.98p (2007: 2.36p)
*** Earnings per share of 3.42p (2007: Loss per share 2.55p)
*** Net cash up 28% to £28.9m (as of today, USD $ 43.0m) with 2007: £22.6m (as of today, USD $ 33.7m)
*** Successfully restructured business and strengthened management team
*** Strong growth in emerging markets
*** Significant contract wins in the Telco and non-Telco sector
*** Continued focus on delivering operational improvements and efficiencies
*** Stronger more focused business with a clear set of priorities
Andrew Taylor, Chief Executive, commented, “We have had our best ever year, delivering strong growth in revenues, profitability and cash while at the same time restructuring the Group to reduce costs and deliver long-term growth. We have strengthened the management team and created a more flexible organization to pursue opportunities in existing and new markets. The success we have achieved underlines the leadership of our technology and our ability to deliver major projects on a truly global scale.”
John Hughes, Non Executive Chairman, said, “After a record year, Intec has entered 2009 with a stronger, more focused organization, a world-class portfolio of products and a healthy balance sheet.”
About Intec Telecom Systems PLC
Intec a leading supplier of solutions to over 70 of the world’s top 100 telecoms carriers and is one of the world’s fastest growing major BSS/OSS (business and operations support systems) vendors. The firm’s 400 plus customers include AT&T, Cable & Wireless, The Carphone Warehouse (UK), China Unicom, Deutsche Telekom, Eircom (Ireland), France Telecom, Hutchison 3G, O2, Orange, T-Mobile, Telefonica, Vodafone, Virgin Mobile, Vivo, and Verizon. Intec works closely with its customers, many of whom have been with the firm since its inception, to provide the highest standards of performance, flexibility and robustness to help carriers service their customers effectively and profitably. Intec’s comprehensive and expanding range of products, solutions and services includes:
*** Retail billing and customer management;
*** Multi-service mediation and activation;
*** Inter-carrier billing settlements including US CABS and ITU-based settlement;
*** End-to-end content partner management;
*** Optimized wholesale routing and trading;
*** Real-time pre/post-paid mediation and charging; and
*** Pre-integrated solutions for wholesale, wireless, and core IMS charging functions
Founded in 1997, Intec is listed on the London Stock Exchange (ITL.L) and has over 1,600 staff and 28 offices in 22 countries.
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* Throughout this report:
i) Adjusted profit before tax is stated before exceptional items, impairment and amortization of acquired intangible assets.
ii) Adjusted EBITDA is earnings before interest, tax, depreciation, amortization (including acquired intangibles but excluding amortization included in cost of sales), impairment and exceptional items.
iii) Adjusted earnings after tax excludes the after tax effect of exceptional items and impairment from stated profit/(loss) after tax.