IRISH TECHNOLOGY company Trintech has announced revenues of $10 million (€6.6 million) for the third quarter and $29.1 million (€19.3 million) for the first nine months of 2009.
The firm said adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) totalled $1.4 million while net income for the quarter was $512,000, as against $555,000 a year earlier.
Overall, revenues in the third quarter at the financial and healthcare software firm were down from $10.1 million. For the first nine months of 2009 the company recorded adjusted Ebitda of $3.6 million and net income of $704,000.
Trintech had cash balances of $18.9 million (including restricted cash of $170,000) at the end of October. It said it generated just over $1 million cash in the third quarter which compared to cash generated of $899,000 the same three-month period a year earlier.
Software license revenue for the quarter totalled $5.4 million, a rise of 12 per cent compared with $4.8 million for the corresponding quarter last year. Service revenue fell 13 per cent to $4.6 million as against $5.3 million a year earlier.
Gross margin amounted to $6.7 million, representing 67 per cent of revenue during the quarter compared to $6.5 million, or 64 per cent of revenue in the third quarter of last year.
Spending on sales and marketing declined by 23 per cent from $2.8 million to $1.1 million while general and administration expenses came in at $2.3 million.
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