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TWST: Can we begin with a brief historical sketch, bringing us up-to-date with where CODASciSys (London: CSY.L) is today?

Mr. Love: Today, we are a company called CODASciSys. We have been trading for well over 20 years, having started trading back in 1980. In the beginning, the company was called Science Systems. We are a software services company and today trade under two brands. The CODA brand, under which we supply financial intelligence and financial accounting solutions based around the CODA accounting, CODA planning and CODA analytic software. That accounts for the CODA part of the new CODASciSys name. We also trade under the SciSys brand, which is the old core business focusing on the supply of management information systems for more general administration and management purposes. We are a global software services business focused on niche sectors providing solutions and services to large corporates, international blue chips, government and quasi-government organisations.

TWST: Can you elaborate on the customer base? Who are some of you key customers?

Mr. Love: Within the CODA Division, we are focused on banking and finance, retail, business services and government. Our clients are organizations which all have requirements for complex back office financial accounting. They won’t have requirements however for manufacturing, distribution, warehousing type solutions, which are ERP territory. Our typical customers will be people like STA Travel (Student Travel Association) Vianet.Works, National Assembly for Wales , HSBC, ABN-Ambro, and Renault Group. The SciSys business is not as global a business as the CODA business. This Division operates predominant in the UK and Europe. The niche sectors it focuses on are utilities, defense, central government and space -- the processing of data from satellites – and the communications sector. Typical customers are the people like the European Space Agency, UK Ministry of Defense, The Environment Agency, National Trust, the Rural Payment Settlement Agency, large government departments and fairly large corporate type bodies.

TWST: What’s the strategic direction for the company over the next couple of years and what milestones are you penciling in on the calendar?

Mr. Love: Basically, it’s about continued strong growth. If you look at our web site and look at our turnover, sales growth, profits growth, we have been showing steady compound growth for well over 15 years now -- steady consistent compound growth rates. We see delivering against that level of continued growth rate in the next 3-4 years as being a serious challenge, but an achievable challenge, and it is on this challenge that we are focused. Our primary focus is on driving the business organically in the markets we currently operate in for continued compound growth. We will also look to strengthen our footprint in key sectors; reinforce our channels to market, our routes to market; reinforce our critical mass and strengthen our product offerings by carefully selecting in-fill acquisitions. If you look at our balance sheet, you will see we are cash generative and have substantial cash reserves. There are now very interesting opportunities out there for those who have cash and who can make acquisitions for cash.

TWST: What do you think gives you the edge?

Mr. Love: It’s the total solution offering we have. On the CODA side, we are able to offer a genuine one stop business change expertise. Organizations that come to us to buy new financial accounting solutions are buying from us the consulting, accounting solutions, implementation expertise, training expertise and product. We are offering a one stop solution and our clients do not have to engage a whole host of disparate parties to complete the project. A good example is STA (Student Travel Association) and Via Networks, both big contracts: we were able to offer a single point of contact with clarity of responsibility for design, implement, roll-out, solution maintenance and the development of interfaces to all the other corporate applications. It is a clear differentiator, in addition to the richness and the quality of our product offerings. It is a very similar picture on the SciSys side.