Intec Telecom Systems PLC Unaudited results for the three months ended 31st December 2001 β Q1
Intec delivers turnover exceeding forecasts, EBITDA profit
Intec Telecom Systems PLC (βIntecβ or βthe Companyβ), a leading provider of telecoms Operations Support Systems (βOSSβ), is pleased to announce its unaudited results for the three months ended 31 December 2001, (βQ1β). Both turnover and EBITDA profit have exceeded company expectations as a result of strong trading across the business and a firm focus on cost control. Trading continues to meet managementβs expectations for the first few weeks of the second quarter and Intec remains on track for growth and increased EBITDA profitability in 2002.
Β· Turnover for Q1 over the equivalent period (3 months ended 31 December 2000) increased by 149% to Β£10.9 million. (Q1 2001: Β£4.4 million)
Β· Profit before interest, tax, depreciation, and amortisation (βEBITDAβ) of Β£33,000 (Q1 2001: loss of Β£1.4 million). Loss before tax was Β£1.8 million (Q1 2001: loss of Β£1.6 million), after depreciation, amortisation of goodwill and intangible assets of Β£1.7 million.
Β· 19 new name customers, including major companies in Europe, the Middle East, Asia-Pacific and the USA.
Β· Good performance from acquired US operations, in both mediation and CABS billing, with a number of ASP contracts adding to future recurring revenue streams.
Β· 33 contracted installations, comprising 9 new InterconnecT family licences, 5 new Inter-mediatE licences, 5 InterconnecT CABS licences and 14 ASP installations.
Β· Recurring revenues represented 42% of turnover, and new licences 34% of turnover.
Β· Intec remains fully-funded with cash of Β£15.1 million
Β· Post-quarter end acquisition of ICLβs OSS business brings around 30 additional customers and new worldwide telecoms partnership with Fujitsu.
βIntec has made a strong start to 2002. With these results, Intec continues to demonstrate that it has products that the market needs, and that it can deliver on its stated strategy of profitable growth,β says Intecβs Executive Chairman, Mike Frayne. βConditions in the telecoms industry remain competitive, but Intec is extending its market share over less able and secure competitors and is increasingly well-positioned for a return to more positive market conditions expected later in the year.β
βIn a market that continues to be competitive and cost-aware, Intec has remained focused on its long-term sales message that we have products that help our customers generate better revenues from their network investment,β adds Chief Executive Kevin Adams. βWe are also working hard to extend our cross-selling activities, and to ensure we continue to satisfy the needs of a fast-growing customer base. Together with an ongoing cost management initiative, this has allowed us to deliver results that exceeded expectations, and an EBITDA profit in what is historically our slowest quarter.β
Full details at http://www.intec-telecom-systems.com
For further information:
Kevin Adams, CEO
Intec Telecom Systems PLC
+44 (0) 1483 745800
Intec Telecom Systems PLC
+44 (0) 7768 808082
Fergus Wylie/Serra Balls
+44 (0) 20 7367 5100
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