Intercede Share Discussion Threads

[igoe104] 07/10/2009 13:38

Fantastic trading statement sales up 40 per cent and it looks like we are winning the court battle.

The court
recently rejected ActivIdentity's challenge to Intercede's antitrust claims and
one basis for a declaration of unenforceability. While the court dismissed
other counterclaims alleging fraud, unfair competition, and an additional basis
for a declaration of unenforceability, it gave Intercede the right to re-plead
those claims with more factual detail. Intercede filed its amended counterclaims
on 28 September 2009.

also it looks like we have won some new contracts in czech rep, romania, austria. and solvakia to add to the other 20 or so projects we are involved in.

[rambutan2] 07/10/2009 10:57

Sounds like business is booming, all very encouraging.

[yump] 07/10/2009 09:30

Very nice. Hate seeing perfectly good money being trousered by folks who probably have no interest in seeing either side win the legal cases, other than enhancing the lawyers reputations within their 'profession'.

Bit unlikely, but it would be great if the two parties could reach an amicable agreement - would have to include the lawyers I guess, but at least would bring their fees to an early, if still expensive close.

Perhaps that is the purpose of IGP's counterclaims ? Not in either companies interests to continue paying out.

[237gmoney] 07/10/2009 09:08

Great results considering current climate. An a well informed update as well. No mention of the TWIC project specfically as we still do not know how much IGP get per card now that they are on their own.

Still we can put our heads in the sand again until christmas and hope the share price continues upwards til then.

[cammy3] 07/10/2009 08:57

Thanks Glasshalfull. 56p looks a bit light taking full account of forward sales and potential new clients.

[glasshalfull] 07/10/2009 08:37

Hoodless comment:-

Intercede Group (IGP, 41p, £19.75m) Trading statement covering the interim period to September 2009 has highlighted good progress with ales up 40% on the comparable period with a strong increase in underlying operating profits. Sales growth is both to existing customers but also to new territories and new sectors. The group remains well placed given the growing interest in national identity cards and we repeat our BUY with a price target of 56p, last iterated at 43p on 10/06/09.

[cammy3] 07/10/2009 08:12

Fantastic update. Great cash pile and litigation costs should be recovered. Oh, and dont forget the 40% increase in sales

[interceptor2] 07/10/2009 08:08

Good start with buyers coming in and share price up 7%.

Off to golf now, so fingers crossed for a deserved good increase today.

[glasshalfull] 07/10/2009 07:59

Concur with sentiments. Excellent T/S.

Regards,
GHF

[interceptor2] 07/10/2009 07:50

Very pleased with update, IGP look inline for another healthy advance in PBIT and Revenue. We will be looking at ajusted PBIT and EPS figures after taking exceptional charges due to legal proceedings. It is a pain to have this hanging over them, but good to see the first update at this early stage. Lets hope it doesn't drag on too long.

Patience still required.

[wjccghcc] 07/10/2009 07:48

The FY cash balance was boosted by a large increase in working capital which I expected to unwind partially, particularly as H2 last year had the boost from several advance payments including $500k from Lockheed Martin. The fact that cash has actually increased despite that and the legal costs is very encouraging.

[egoi] 07/10/2009 07:40

Good call on a likely t/s!

Underlying sales, customer base, pipeline and cash look excellent, but imho its very clear that the legal dispute is probably taking a heavy drain on finances, and increasingly management time away from the core businessses. Looks as though it could drag on for many months or longer too and is getting nastier not easier if anything.

Such a shame with the core business doing so well otherwise.

Interesting to see what the market makes of it.

[felix99] 07/10/2009 07:38

I am quite pleased by the legal update actually. Firstly they are clearly starting to keep us informed now that things are actually happening in the case.

Secondly it says to me they are up for the fight and they seem to be firing back all guns blazing - the anti trust claim also gives u ssome upside in that if they win I would imagine it means the other lot might get punitive damages awarded against them which in US as pretty big for trying to bully IGP away from going for business .

Don't think I can think of a better update other than the case is finished satisfactorily ! Too early for that

[spooky] 07/10/2009 07:36

A sensational trading update.

I think everyone needs to get the legal case into perspective,as a holder of numerous U.S. stocks it is not at all unusual for a company to be involved in a legal dispute of some form or another,you get used to it.It pays to be aware of it but i think we all know that Actividentity is proceeding down this route because of it's own failings in the market.

[rivaldo] 07/10/2009 07:18

Terrific trading update this morning.

The only downside is the legal case - though cash looks terrific against last year, the small increase on the last results suggest the lawyers are becoming very fat cats indeed. A real shame and a waste of IGP's time and resources (everyone knows what these US companies are like and the tactics they employ).

[smartmoney100] 07/10/2009 07:09

TS read very well to me, can't see much forward caution in there. Best just chill out again for a few months.

[pyman] 06/10/2009 11:00

no trading statment yet. it would be nice to have an update regarding the patent dispute too!

[fft] 05/10/2009 13:12

we had a "postive trading update" on 6th october last year. Any reason why we shouldnt get one tomorrow (or later this week) ?

I would be happy with another year of solid growth before any action was taken regarding issuing more shares or anything else. Quality and Value will out.

I do suspect however that it will be taken out within 18 months if growth continues combined with a solid balance sheet.

[igoe104] 01/10/2009 17:39

Another project for igp partners to get involved in.



I cant understand why anyone would sell before a trading statement, its not rocket science that its going to be positive again. if you are going to sell you should sell after the trading statement because the share price will be higher.

IF igp can make 4-5 million profit in the next to years it will at least double the share price even on a p/e of 10, which in better markets in a couple of years they will still be cheap. its worth adding with igp in my eyes if you sit back and wait.

[wjccghcc] 30/9/2009 11:13

Nope. My understanding is that the profitable part would be the set up of the system and the foreign/essential worker card issuance. The wider rollout would be prestigious (if they could disclose it) but there wouldn't be a lot of profit in it.

[yump] 30/9/2009 10:14

Oh, its the compulsory ID cards for UK that Brown was on about - I just caught part of the speech, saying they wouldn't do it.

IGP not relying on that anyway were they ?

[igoe104] 30/9/2009 05:13

UK ID CARD still good business for igp.


Identity cards have been issued to 90,000 foreign nationals, exceeding our target by 15,000, a month ahead of schedule,"

[yump] 29/9/2009 20:15

I think Gordon Brown mentioned they might not go ahead with ID cards and some throwaway remark about the LibDems attitude to it.

[archa] 29/9/2009 20:14

My apologies, my eyes must be failing. October 6th it was. Thanks for correcting me.