Intercede Share Discussion Threads

[iicb] 07/9/2010 14:00

PS : I do hope the broker is going to write a nice report and send it to a few large investors....

[igoe104] 07/9/2010 13:58

This looks interesting.

[boadicea] 07/9/2010 13:51

WJCC -

That (imminent capital reorganisation) would be very good news.
If the forward orders and recurring income are sufficient to justify some tax loss recognition, it could indeed provide the extra weight to the balance sheet to enable complete elimination of the P&L deficit against reserves rather earlier than I suggested above.
Any such recognition would also appear, I believe, as statutory profit although it would be removed in the 'adjusted' profit and earnings.

[iicb] 07/9/2010 13:26

Phew.... great news today, just what this share badly needed after the past few weeks.

WJCCGHCC - yes, a little, will be happier when it reaches FinnCap's rating however. Long way to go yet to recover my losses, but it's pleasing to see the rot in share price withdrawn suddenly.

PS : igoe104, think gmoney sold most of his holding, could be wrong though. He certainly hasn't been on ii for ages now.

iiCB

[glasshalfull] 07/9/2010 13:10

Smashing news.

Lucky timing on my part loading up at 27-29p last week, as mentioned on the thread. Their level of business is at an "all time high" which coupled with their no. 1 position & considerable IP surely justifies a shareprice significantly higher.

Surprised that no predator has shown it's hand at the ridiculous level of Market cap IGP command.

Regards
GHF

[outsider] 07/9/2010 12:37

A number of contract awards are also pending imminent closure,



May get some further announcements!

[igoe104] 07/9/2010 12:34

BROKER 50P TARGET PRICE.



On AIM, a positive trading update pushed ID card software maker Intercede Group up 5p to 33.3p.

Broker FinnCap has a 50p price target on its shares and is impressed by new contracts wins.

[igoe104] 07/9/2010 12:24

Very positive especially as it looks like more contracts on the way.

Intercede's sales activities continue to increase the pipeline of future
business. A number of contract awards are also pending imminent closure, and the
company is on target to meet full year expectations.

ps whats happened aphro and gmoney have they jumped ship ?


I feel alot better now after this statement.

[jacksona] 07/9/2010 11:54

IGP now showing on ADVFN home page in today's top gainers, not news but nice !!

[wjccghcc] 07/9/2010 11:10

boadicea, AFAIK they are planning to get shareholder approval for the capital reorganisation at the AGM so they would be in position to pay a FY dividend if they wanted to.

iiCB hope you're a bit happier now :-)

[yump] 07/9/2010 10:21

I don't recall, but the UK government is quite a small % customer isn't it ?

So UK decreasing and everything else increasing. Currently UK decrease being cancelled out by overseas increase, with plenty in the pipeline. Which will reduce even more the UK gov. sales as a proportion of the total, causing revenue at some point fairly soon to grow beyond forecasts ?

Interims will be very interesting. Meanwhile, even on flat full year revenue, 4p eps gives a grossly undervalued company imo, given the growth area its in. To get some serious share price growth though it needs some growth at interims, so that the eps and the rating both rise together.

If the UK gov. hadn't dropped, then looks like the full year would have been exceeded and everyone would have labelled IGP a real growth share. Victim of circumstances a bit perhaps, but hopefully no longer significant in 6 months to a year's time.

[boadicea] 07/9/2010 09:18

A further technical plus point is that given foreseeable sustained profitability (on a more likely than not basis), there should be a very significant tax credit to write into the balance sheet. This will represent the cash flow savings to come in future years as profits tax is charged against the credit instead of paying in cash.

[boadicea] 07/9/2010 08:47

The company could arguably afford a maiden dividend, but with accumulated losses of £7.5m at last balance sheet date this is some way off unless they apply for and get court sanction for a capital reorganisation. This is unlikely imho as it would currently involve writing down the nominal share capital - i.e. there are insufficient share premium and special reserves to eliminate the deficit.

A year or two of good profit would see the losses amounting to less than the share premium account which is the usual source of any necessary capital write-down so a rearrangement would then seem sensible.

[boadicea] 07/9/2010 08:32

The only figures I can find (from BSL website)

Year Ending Profit(£m) EPS P/E PEG EPS Grth. Div Yield
30-Mar-11 .. 1.98 ... 4.10p . 6.8 . n/a . -2% ... n/a ... 0.0

[spooky] 07/9/2010 08:24

Yesterday I had a conversation with a fund manager about Intercede,i told him that either there was something wrong or the shares were half price.Today's statement confirms that the company continues to flourish,i believe the shares are much too cheap,i hold a significant number,i have bought recently,i have bought today and i will continue to buy if someone is generous enough to offer them at this level.

[carly2] 07/9/2010 08:08

Well done all at igp!! I think that clarifies things very well.
Best wishes all

[fft] 07/9/2010 07:38

Nice 'postive trading update'. all we need to know is what 'full year expectations' were ! Perhaps someone on the management has been reading this board :-)



Intercede announces strong levels of business throughout the summer period.
The Healthcare sector has made a significant contribution to revenue and in July
orders from an existing UK customer generated more than GBP800,000 in cash
receipts.
US government customers have continued to buy additional software licenses and a
further US Federal Agency has purchased the Intercede MyID system. This brings
the total number of Agencies using Intercede MyID for HSPD-12/PIV compliance to
13. Lockheed Martin and FAA continue to buy materially significant quantities of
professional service time from Intercede in support of their large
enterprise-wide identity programs.
Internationally, Intercede has added the Australian government and a South
African bank to its customer list. Additional revenues are accruing for the
next phase of the Kuwait national ID program and an existing customer that has
purchased Intercede MyID to power a Switzerland-wide electronic identity
service.
Intercede's sales activities continue to increase the pipeline of future
business. A number of contract awards are also pending imminent closure, and the
company is on target to meet full year expectations. Intercede remains in a
strong cash position at the end of August.
Richard Parris, Chairman and Chief Executive of Intercede, said:
"Our level of business activity is at an all time high driven by repeat orders
against existing contracts, new orders from new customers and a growing pipeline
of high value prospects. Although, as expected, we have seen a reduction in UK
Government orders compared to the same period last year, this is being
compensated for by international orders, particularly from the US."

[iicb] 06/9/2010 17:59

Anyone know what these OK trades are/were?

3-Sep-10 15:31:36 28.00 200,000 26.00 30.00 56.00k
Trade Type: Delayed publication Historical (date is not today)

3-Sep-10 15:29:58 27.25 250,000 Sell* 26.00 30.00 68.13k
Trade Type: Delayed Publication Historical (date is not today)

3-Sep-10 15:29:49 26.50 250,000 Sell* 26.00 30.00 66.25k
Trade Type: Delayed Publication Historical (date is not today)

I know they are "On-Exchange Ordinary delayed publication" trades, but not really sure what that means. Is it the end of the big seller and now the selling has been done, the final amount is shown?

Thanks,
IGP Depressed CB

[pyman] 06/9/2010 15:48

value will out in the end. As many have said- if not because of share buying by investors then a takeover. I m surprised they ve not been bought already.

[igoe104] 06/9/2010 10:29

Contractors bullish on federal ID technology market




Timothy J. Quillin, an analyst with Little Rock-based investment bank Stephens, is bullish on the sector. He said identity solutions could be "one of the areas where you might see increased spending," even in an era of constrained spending. He cited the military and homeland security interest in biometrics and identification databases as the key driver.

[igoe104] 04/9/2010 09:42

More (frac) usa government emergency workers cards issued. a section that igp are involved in. this should be a massive market for igp, their are 10,s millions of cards that will eventually be issued in the states.





taken from the last statement.


MyID PIV 8 SR1 also builds on Intercede's substantial experience in supporting non-Federal customers who need to issue identity credentials that are interoperable with the US Federal PIV systems (PIV-I). The programs include Transportation Worker Identity Credential (TWIC), First Responder Authentication Credential (FRAC) and Airport Credentials Interoperability Solution (ACIS). Intercede has already won the TWIC system,( has secured a growing number of early FRAC deployments )and anticipates participating in the ACIS program.

[igoe104] 04/9/2010 09:31

More details of the biometric market research.



Biometrics usage would further increase in public sector owing to criminal and civil security issues, and in commercial sector for cost savings and convenience factors. The process of technology convergence is slated to become critical and virtually inevitable in future for sustaining growth and profitability.

As stated by the new market research report on Biometrics, the US dominates as the single largest worldwide market for biometrics. Europe and Asia-Pacific follow the lead at the second and third positions, respectively. The consolidated share of the US and European biometrics markets constitutes a sizeable chunk of over 60%. In terms of fastest pace, the Latin America and Asia-Pacific markets are projected to race ahead of the other world markets by the year 2015.

[iicb] 03/9/2010 19:52

I'm a "maybe" for that meeting, work dependant, but still wondering whether to get onto RP now rather than wait.

Trying to bite my lip at the moment rather than keep shouting out my frustration, pls bear with me, it's hard sitting on such a big loss for something seemingly so promising.

One thing we haven't really discussed is WHY the big investor is selling... that's what worries me. If he/she is bored, fair enough, but is there another reason? I'm not happy to mop up more shares based upon what I've seen since I invested, been caught by a falling knife before to my pain and learning. There's definitely plenty around judging by the dummy quotes I've been hitting the market with over the past few days.

Been some good posts of late, and thankyou to some for the sympathy. Don't get my wrong, I sat on a big loss when it hit 17p during main CC time, but now back at 28p really and at current overall market levels, it's getting hard to stomach if this is the "market leader" in a "growth market".

Strong think one topic for the list should be the marketing model going forwards. The second one - value produced by the broker.

Anyway, have a good weekend all, think I'd best have a beer.

iiCB

[igoe104] 03/9/2010 10:56

wjcc.

what kind of profit are you hoping for this fy.

i think we could see around 3 million because we have more projects going live and we have more favourable exchange rates than last year. with 4.7 million in the bank already we could be pushing up to 8 million in the bank come march 2011, not bad for a company capped at around 13 million.
Hopefully fingers crossed we can be taken over in two years for over a quid, and also maybe we could have 12 + million to share out among holders. it could be a double bonus.

[glasshalfull] 02/9/2010 20:09

Good post Accumulator. A few interesting points.

FWIW during the last 2 sessions I've bought a significant proportion of the holding I sold earlier this year. Catalyst was the multitude of acquisition / mergers currently taking place in the technology sector.....surely IGP must be ripe to be acquired given the lowly rating that the Market attributes, oh, and their No 1 Market leading position in the IDCMS Market (in terms of contract wins).

Davidosh - Unfortunately I'll be unable to attend the AGM per my earlier response to your email off board. I would appreciate any feedback that you or fellow attendees are able to share.

BLASH

Kind regards
GHF