Security software group Trintech has announced revenues in the second quarter to the end of July of $10.9 million (€10.9 million), a fall of 41 per cent on the same period last year.
The company blamed the fragile state of the global economy, which led to slower investment decisions and weak demand for its products.
The company has seen its star fade dramatically in recent months.
Trintech's all-time high share price was €75.25 at the height of the dotcom boom in early 2000 and it had a flotation price of €5.50 in September 1999.
Yesterday the company’s shares were worth $1.20, down ten cents on the day.
The company reduced operating expenses by 44 per cent and this morning it announced that it had cash balances of $50.9m. Pro forma net losses were reduced to 16 cents per share from 29 cents in the same period last year.
The pro forma figure excludes depreciation, amortisation and stock compensation charges.