Trintech Group, provider of financial software and services, has reported revenues of $7.7 million for the third quarter ended October 31, 2007, a 15% increase compared to $6.7 million in the third quarter of the prior year.
On a consolidated basis, Trintech incurred adjusted earnings before interest, tax, depreciation and amortization (EBITDA) loss of $164,000 for third quarter compared to adjusted EBITDA loss of$782,000 for the corresponding period last year.
Combined basic and diluted net loss per equivalent ADS for the quarter ended October 31, 2007 was $0.07, compared with a basic and diluted net income per equivalent ADS of $0.11 for the quarter ended October 31, 2006.
For the nine months ended October 31, 2007, revenue stood at $23.9 million compared to $18.2 million for the corresponding period in 2006. Basic and diluted income per ADS was $0.23 in the nine months period of 2007 compared to $0.16 in the same period of 2006.
Paul Byrne, president of Trintech Group, said: We continue to believe that our investment program in our product and sales and marketing programs will drive sufficient revenue growth to return Trintech to EBITDA profitability by the end of the current fiscal year.