Trintech Reports Fiscal Year 2005 First Quarter Financial Results

Wednesday 26 May 2004 19:22 CET | News

Trintech Group has reported first quarter revenues of $12.4 million and profits of $84,000, equivalent to a basic and diluted net income per equivalent American Depositary Share (ADS) of $0.01.

Highlights - Revenue growth of 21 percent in Q1 compared to corresponding quarter last year. - Trintech maintains profitability in Q1, with a net income of $84,000 and an Adjusted EBITDA net income of $594,000. Adjusted EBITDA net income excludes restructuring charges, net amortization and impairment of goodwill and purchased intangible assets, depreciation, adjustment of acquisition liabilities, stock compensation, interest income, net and income taxes. - Gross margins continue to expand to 63 percent in Q1, a sequential increase from 59 percent for the previous quarter. - Basic and diluted net income per equivalent ADS for the quarter ended April 30, 2004 was $0.01 compared with basic and diluted net loss per equivalent ADS of $0.04 for the corresponding quarter ended April 30, 2003. Recent highlights include: Trintech announced the launch of SmartPIN LINK, a wireless Chip and PIN solution for restaurants and the hospitality sector. Card fraud currently costs the UK over GBP400 million a year. To combat fraud, the industry is introducing chip-based payment cards validated by PIN rather than signature. SmartPIN LINK is a complete payment solution that makes it easy for hospitality point-of-sale (POS) systems to accept Chip and PIN credit and debit cards at the table. Trintech announced that Alphameric selected the Companys Smart 5000 PINPad as the technology solution for its EPOS implementations across a number of retailers in the UK and Ireland, including Clinkards, Giles Sports and Slater Menswear. Trintech announced that MTC-Vodafone (Bahrain), the Kingdoms newest GSM operator, went live with the Companys PayWare PrePay recharge platform. The industry-leading platform was integrated by International Turnkey Solutions (ITS), the Companys partner in the Middle East and Africa. Trintechs PayWare PrePay will play an important role in automating MTC-Vodafones prepaid services eeZee and eeZee Xtra, ensuring a fast, cost-effective, yet secure mobile top-up. Trintech announced that Ottakars PLC, one of the UKs leading book store chains, selected ReconNET(tm) and the ExecuNET Executive Reporting Suite to automate the verification and reconciliation of its cash banking and credit card transactions. ReconNET enables Ottakars PLC to streamline its cash management processes, and provide effective risk management and reporting across its UK stores. Trintech announced that Gruenig-Poth, a leading manufacturer of outdoor vending systems, selected the Companys OpenPay 2000 for use in their new range of solar-powered machines. The vending machines will offer mobile phone top-up to customers of all networks and will be installed throughout Germany. Trintech announced that Scheidt & Bachmann selected the Companys OpenPay 3000 outdoor payment terminal and back office payment software, to power secure Chip and PIN ticketing at railway stations in selected European markets. Scheidt & Bachmann, a global leader in the supply of automated ticketing and payment systems, plans to roll-out PayWare OpenPay 3000 to enable secure payments at unattended ticket vending machines. Trintech announced the launch of PayWare GiftCard. Building upon the Companys existing gift card success with retailers such as TJX, AT&T Wireless and Marsh Supermarkets, PayWare GiftCard allows retailers to set-up and run their electronic gift card program in-house in a cost-effective manner. Results Overview: Revenue for the quarter ended April 30, 2004 was $12.4 million compared with $10.2 million for the corresponding quarter last year, an increase of 21 percent. Product revenue for the quarter ended April 30, 2004 increased 40 percent to $3.6 million compared to $2.6 million for the corresponding quarter last year. License revenue for th

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce