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Intec Telecom Systems PLC Revenues up 63 Percent


- 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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