Intec Telecom Systems PLC (“Intec” or “the Company”), a leading supplier of billing software solutions to the global telecoms industry, today announced its audited results for the year ended 30 September 2005 (“FY 2005”). Revenue and earnings have grown almost 70% over the same period last year as a result of the turnaround of the Singl.eView acquisition, with Intec making a clear transition to being one of the world’s leading BSS/OSS suppliers in terms of both business performance and product capability.

Financial Highlights
– Revenue up 69% to £116.2m (Year ended 30 September 2004 (“FY 2004”): £68.8m)
– EBITDA before exceptionals up 58% to £16.9m (FY 2004: £10.7m)
– License sales up 33% to £25.4m (FY2004:£19.1m)
– Adjusted PBT up 63% to £13.5m (FY 2004: £8.3m)
– Loss before tax of £4.0m (FY 2004: loss of £1.2m) after £16.4m amortisation charge (FY 2004: £8.8m)
– Adjusted EPS up 7% to 3.82p (FY 2004: 3.57p); Basic loss per share (2.00p) (FY 2004: (0.80p))
– Operating cash inflow of £0.6m (FY 2004: inflow of £4.6m)
– Net cash and current asset investments of £23.8m (FY 2004: £32.2m)

Operational Highlights
– Successfully turned around the Singl.eView business; made profitable from first quarter of ownership.
– Original Intec business continues to win market share.
– Increase in frequency of multi-product, multi-million pound deals.
– Transformation of Intec into tier 1 vendor of business critical solutions.
– Contract wins across all products and all regions including two RBOCs in the USA, MTN, The Carphone Warehouse, Saudi Telecom and VimpelCom.
– New solutions launched, including Singl.eView v6, Intec IPTV and Intec Trading & Routing.
– New Centre of Excellence opened in Bangalore.

“2005 has been a year of transition in which Intec has increased its market share in its established business, created excellent momentum and good profitability in Singl.eView, and built a strong foundation for continued, profitable growth,” said Intec’s non-executive chairman, John Hughes. “It has also been a year of investment, in particular in new offshore facilities, new software solutions, and improved operational infrastructure, that are vital to our future competitive performance.”

“The impact of Singl.eView on Intec has been dramatic. We are delivering on its promise, particularly in terms of our market presence, and in establishing relationships with the most senior management at tier 1 telcos,” added Intec CEO Kevin Adams. “As well as beating expectations for both revenue and earnings, we have transformed the Singl.eView business from substantial losses to profitability. Despite strong marketplace competition, we have won our largest ever deals, which bring long-term revenue streams.”