Thursday 14 December 2017

Trintech's second-quarter revenue rises 9pc to $9.1m

John Mulligan

Irish software firm Trintech posted a 9pc increase in revenues for the second quarter to $9.1m (€7.1m) and adjusted earnings of $1.5m, up 10pc on the corresponding period in the last financial year.

For the first half of the year, revenue was 9pc higher at $17.6m, while earnings before tax and depreciation climbed 17pc to $2.5m.

Chief executive Cyril McGuire said the outlook for the company, which develops financial compliance software, remained positive.

He added that the performance of the company was strong in the first half, with "solid business growth" across its core market.

Software licence revenues from continuing operations for the first half of the year climbed 11pc to $11.2m, compared to $10.1m a year earlier, primarily due to the 22pc increase in new licence business, said the company.

Recurring maintenance revenues also contributed growth of 6pc.

Service revenues from continuing operations for the first half were up 6pc to $6.4m, while in the second quarter they were 7pc higher at $3.3m.

Total gross margin was $6.9m in the second quarter and $13.1m for the first-half period, representing rises of 9pc and 10pc respectively.

The company had cash of $48.9m on its balance sheet at the end of July.

Irish Independent

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