Intec expects to report full year (FY2003) adjusted pre-tax earnings at around £5 million, substantially ahead of market expectations
London, 21 October 2003 - The Board of Intec Telecom Systems PLC (“Intec” or “the Company”), a leading provider of telecoms Operations Support Systems (“OSS”), is pleased to provide a trading update ahead of the announcement of its full year results. Intec expects to report adjusted pre-tax profits of approximately £5m, substantially ahead of current market expectations.
“Throughout the year Intec has worked hard to deliver a strong performance, as evidenced by our previous quarterly announcements, against the background of an OSS industry that has been capex and growth constrained,” said Intec Executive Chairman, Mike Frayne. “We had a particularly strong final quarter for revenues which, due to the operational gearing of the business, directly impacts the profit. This, combined with continuing cost control, has increased Intec’s profitability substantially this year.”
Intec will report its fourth quarter and full year results on 25 November 2003, for its FY2003 year ending 30 September. Intec announced the acquisition of Denmark-based OSS vendor Digiquant A/S on 11 September 2003, approximately two weeks before the end of its financial year. Digiquant is not expected to make a material contribution in the period.
About Intec Telecom Systems
Intec Telecom Systems is an award-winning worldwide Operations Support Systems (“OSS”) vendor for fixed, mobile and next-generation networks (ie. WLAN, 3G and IP), with more than 500 installations of its products worldwide. Founded in 1997, Intec was listed on the London Stock Exchange (Code: ITL.L) in June 2000. Intec is the market leader in intercarrier billing systems and convergent mediation software, and a recent winner of the 2003 Global Billing Award – Best Overall Contribution, and Telestrategies ‘2003 Mediation Excellence Award’.
Intec’s product portfolio includes:
· Inter-mediatE™ - convergent mediation solution
· InterconnecT™ - intercarrier billing including US CABS and ITU
· Inter-activatE™ - flow-through provisioning and activation
· Intec Dynamic Charging Platform™ – a real-time pre/post-paid charging interface between the network and the back office
· Intec Digiquant - end-to-end management for advanced data services
Intec’s customer base includes, among others, BellSouth, BellSouth Peru, Brazil Telecom, Cable & Wireless, Cesky Telecom (Czech Republic), China Unicom, COLT Telecommunications, EBT (Taiwan), Eircom (Ireland), France Telecom, Hutchison 3G, Maxis (Malaysia), Singtel Optus (Australia), Orange, Telecom Argentina, Telecom Egypt, Telecom Italia, Tiscali, TPSA (Poland), Swisscom, T-Mobile International, Telia (Sweden), Telefonica, Telkom South Africa, Telstra, US Cellular, Westel (Hungary), Vodafone, VimpelCom (Russia) and Verizon. For more information on Intec Telecom Systems, visit the website at http://www.intec-telecom-systems.com.
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