Intercede's orders fall short

published 16 February 2012

Intercede, an identity and credential management software provider, has admitted that it has not received orders in the volumes it had anticipated.

With six weeks to go before the end of the period, the firm's order book of £6.3m stands at a similar position to the prior year, mainly because customers are either moving to rental models that defer revenue recognition into future periods or they are deferring project start dates, or both.

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Richard Parris, Intercede Chairman & Chief Executive, said: "Whilst it is disappointing that short term revenues do not reflect the significant strategic and commercial progress made by Intercede, we nevertheless believe the business is in a better position to generate long term shareholder value. We are continuing to work to address any revenue gap in the current year, but we are dependent on the buying behaviour of large government and corporate customers.

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