Electronic payments software group Trintech has almost doubled revenue to $14 million (€16.4 million) from $8 million in the third quarter to October 31st, 2000.
The surge is attributed to increased demand for secure e-commerce payment solutions. It said this demand drove third-quarter software licence revenue to $5.9 million, an increase of 152 per cent over the comparable period in 1999. Pre-tax losses more than doubled to $5.58 million from $2.6 million. Basic net loss per share rose to 21 cents from 11 cents.
Production revenue increased to $6.1 million from $4.9 million while service revenue went up to $2.0 million from $0.78 million.
"Our third-quarter licence revenue growth reflects Trintech's commitment to delivering new and innovative products," said Mr John McGuire, Trintech's chief executive officer. "We continue to press ahead with our organisation and acquisition growth strategy - coupled with continuous platform innovation into a new variety of platforms."
The firm said it had continued to accelerate its investment to "build a global organisation and develop innovative secure e-commerce payment infrastructure solutions". Sales in the first nine months rose to $33.5 million from $21.2 million. The pre-tax loss rose to $17.1 million from $7.4 million.
Trintech acquired two companies, Checkline and Sursoft, in the latest quarter. It said its acquisition strategy aimed to provide access to new technology, markets and customers.
Trintech has also announced that Nextel Communications, a provider of integrated wireless communications services, is licensing its payware wireless payment platform.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)