Revenue up 20% on year-ago
Trintech Group, a provider of integrated financial governance, transaction risk management and compliance services, has reported a net loss of $334,000, or $0.01 per ordinary share, for the fourth quarter ended January 31, 2009, compared to a net loss of $706,000, or $0.02 per ordinary share, for the same period in fiscal 2008.
The company reported revenues of $9.42m for the fourth quarter of fiscal 2009, an increase of 5%, compared to $8.9m in the corresponding quarter of 2008.
For the fiscal year 2009 ended January 31, 2009, the company reported a net loss of $1.23m, or $0.04 per ordinary share, compared to a net loss of $4.27m, or $0.14 per ordinary share, for fiscal 2008. Total revenue grew 20% for the 2009 fiscal year to $39.7m from $32.9m for fiscal 2008.
Cyril McGuire, chairman and CEO of Trintech Group, said: Trintech’s fourth quarter results reflect a solid quarter and year end performance with revenue growth and adjusted EBITDA net income of $460,000 for fourth quarter and $1.6m for the 2009 fiscal year. Despite the turbulent global economic environment, our business model provides good visibility with a high level of recurring revenue, amounting to over 60% of annual revenues in the 2009 fiscal year.