Intercede Share Discussion Threads

[boadicea] 11/10/2010 21:36

staverly - I'm sorry if I upset you. Unfortunately I feel you may have some difficulty in providing an actual reference for your categorical "any good dictionary" assertion.

[staverly] 10/10/2010 17:41

boadicea - I refer you to any good dictionary where you will note that "several" can mean "more than one"; which was the case in this instance as the litigation ran for around 18m. Next time might I suggest a constructive posting - you're overdue.

[boadicea] 09/10/2010 22:06

Staverly - The patent litigation might well have gone on for "several years" if allowed to take its full legal course. However, it didn't as both Actividentity and IGP, each for their own reasons, realised the futility of such a situation.
It lasted in fact for a bare 18 months, from Oct 2008 to March of this year for which we should all be extremely grateful.

[staverly] 09/10/2010 16:35

iiCB - 29 Sep'10 - 19:51 - 2269 of 2308
PS : Also, I think this is why we see very limited share buys from directors etc. They know the share price isn't going to move much really ...

As the CEO & FD hold 11.4% and c3% respectively I think it unlikely that they would necessarily add to their positions (note that Parris's wife is a quasi director)despite the recent positive newsflow.

Given that the 2008 AR carried the ominous "Emphasis of Matter - Going Concern" paragraph, it is not surprising that professional investors are not still ready to rush to market, though I expect things might be about to change. Additionally the litigation (recently settled) hung like a dark cloud for several years. Add in the fact there has been no broker coverage for a long time (till Finncap replaced KBC)and I think you have the recipe for considerable upside over the eighteen months.

[igoe104] 08/10/2010 15:44

Latest news on the twic project.



The good thing about this project, is its on-going plus every 5 years the cards need up-grading.

the latest figures are on the link below. (130,000 at top wack coming igp way soon.)

TWIC Statistics
--------------------------------------------------------------------------------

Total # Enrolled:
1,701,856
Total # Cards Issued:
1,572,160

[wjccghcc] 07/10/2010 17:08

I suspect they'd rather underpromise and overdeliver after last year's experience so upgrades may have to wait until nearer the end of the FY.

Having said that, assuming costs have gone up 5-10% from H2 (should be okay since staff numbers haven't increased much since last year), then your're looking at H1 PBT of 1-1.2mm which is a 45-75% increase on last year.

The wonders of operating leverage when you have a 99% gross margin :-)

[rivaldo] 07/10/2010 15:39

Terrific update. No more need be said :o))

I assume broker upgrades will wait for the actual numbers. In the meantime from HB FYI:



"Intercede (IGP, 44p, £21.20m) Trading update for H1 to September 2010 reports sales up 20% against 2009 with improved profitability. Contract wins in the USA now makes it the largest region for the group. Cash has been held at £4.47m (£4.64m at the year end) which reflects a £0.5m or so generation given exceptional relating to last year were paid in H1. On just over 10x PER with a positive momentum confirmed we return the group to a BUY with a 13x PER target - or 53p. (Julian Tolley)"

[igoe104] 07/10/2010 15:34

This is worth a read, it just shows how big the usa market is going to be.



ps i like the sound of Electronic Medical Records.

mmmmmmmmmm interesting looks like the ssa is expanding.

SSA awards Lockheed Martin contract for NHIN connectivity
The Social Security Administration has awarded Lockheed Martin a $2.8 billion, seven-year contract. One of the service requirements is to integrate EMRs into SSA's processes, leveraging the NHIN.

[igoe104] 07/10/2010 14:51

A peice about real id a project igp mentions in various statments. looks like states will have to get their act together by may 2011.

which is continuing to work toward complying with the federal Real ID Act by the extended deadline, May 11, set by the Department of Homeland Security, Moriyama said.

The act requires all states to issue driver's licenses and state IDs that meet federal standards, with enhanced security features and proof of legal presence in the United States.

[igoe104] 07/10/2010 09:57

One project to look out for. it would tick igp boxers because we already have experiance in this industry plus we already working for the australian government.

[wjccghcc] 07/10/2010 09:17

Further to what igoe said, IGP don't provide the biometrics part anyway. They provide the platform that pulls it all together. Whether it's iris, facial recognition, fingerprint, dongle, password, PIN etc. they will interface with whatever security elements the client requires.

[igoe104] 07/10/2010 09:04

IIcb

that link is probably refering about is gsa/activi usa contracts which arent up to the required standard, these contracts like wjcc says could move into igp direction which is the required standard.

[wjccghcc] 07/10/2010 08:34

A company this size will probably only pay final dividends. The odds on getting one must be pretty high.

[awilson] 07/10/2010 08:31

With net cash of 9.25p per share, is it too much to hope for a maiden dividend with the interims in December?

[boadicea] 07/10/2010 08:19

Very enthusiastic update.
Anyone who added 5 weeks ago at the bottom of that ridiculous dip is well on the way to doubling their money in about 5 weeks! (Actually up ~70% now.)
I don't usually predict but it does look like a case of 50p here we come - and cheap at the price.

Given the relatively fixed costs, any marginal increase in turnover (and there's plenty of potential for that) quickly converts to cash.

[iicb] 06/10/2010 19:35

Honestly, I'm not trying to upset everyone... remember, I do hold!

[igoe104] 05/10/2010 12:53

This looks interesting especially as we are already involved in the area.

[igoe104] 03/10/2010 13:24

Heres abit on cybersecurity here.

Securing America's cyber infrastructure requires close coordination with our federal, state, international and private sector partners," said Secretary Napolitano. "Exercises like Cyber Storm III allow us build upon the significant progress we've made in responding to evolving cyber threats."

[wjccghcc] 02/10/2010 23:18

There's a full page article in the FT today about the threat of the Stuxnet virus for governments, power stations, defence installations etc.. One thing Parris mentioned at the AGM is that the US is particularly concerned about cybersecurity and state sponsored cyberterrorism. Given most sensitive areas have isolated networks, proper logical and physical security will be number one priority with PIV-c likely to be specified for any company that wants interoperability with the government.

[daz] 01/10/2010 13:54

My thanks as well for the write-up WJ.

[wjccghcc] 01/10/2010 11:15

It looks like the GSA managed services contract (currently using Actividentity) for issuing PIV cards to the 50 odd federal agencies who haven't done it individually is going to be recompeted. As we've seen with the 14 agencies who use IGP, MyID seems to be the preferred solution for enabling the agencies to maximise usage of the cards (logical and physical access).

While the Federal Government may not want all their eggs in one basket, if IGP do win it then 90% of the US government and defence sector will be secured by a £20mm company from Lutterworth. Pretty incredible stuff.

[igoe104] 01/10/2010 10:51

Think folks must be crazy to consider selling, alot more good news to come.


TAKEN FROM THE LAST CONTRACT WRITE UP.

In the coming months and years it is likely that most government contractors will upgrade their internal security systems to be PIV-compatible (PIV-c). This represents a significant expansion of the US corporate market sector targeted by Intercede.

[yump] 01/10/2010 07:43

@boadicea
Like your last 2 paragraphs - spot on.
That's why pi's although needing patience can often get a big head start and end up with massive profits. Obviously not every share, but if you do pick one, by the time the funds get in, they pump up the p/e to a scary level in their desire not to be the odd one out. ASOS comes to mind - pi's can't have dreamt that they could hold a stock for long on a high p/e and yet it has done exactly that.