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Trintech Reports Net Income of $1.2m

Thursday 24 February 2005 01:19 CET | News

Trintech Group has announced fourth quarter revenues of $15.1 million and full fiscal year revenues of $55.8 million. Trintech also announced profits of $1.2 million, equivalent to a basic and diluted net income per equivalent American Depositary Share (ADS) of $0.07, for the fourth quarter and profits of $2 million, equivalent to a basic and diluted net income per equivalent American Depositary Share (ADS) of $0.13 and $0.12, for the full fiscal year.

Recent highlights include: - Trintech announced that Shell selected Trintech’s PayWare SmartPIN software solution and Smart 5000 PIN Pads to enable smart card acceptance at all its company-owned petrol stations in the UK and Ireland. - Trintech announced that Faber, Coe & Gregg, a retailer of sundries, periodicals and paperbacks, selected ReconNET to automate the verification and reconciliation of bank deposits for its 70 locations. The installation of ReconNET will enable the company to perform daily deposit verification and reconciliation to reduce costs and gain greater reporting and financial controls. - Trintech announced that Friendly Ice Cream Corporation, a restaurant company and ice cream manufacturer, selected ReconNET to automate the verification and reconciliation of its credit card, bank deposits and gift card transactions for its 358 company-owned Friendly’s restaurants. The installation of ReconNET will enable the company to streamline its daily reconciliation processes, reduce costs and gain greater reporting and financial controls. - Trintech announced that Ratner Companies, one of the industry’s largest salon chains with nearly 900 salons and over 10,000 stylists, selected Trintech’s ReconNET, DataFlow transaction network and Bank Fee Analysis to optimize funds management processes. Ratner Companies will automate the verification and reconciliation of its bank deposits with ReconNET, using Trintech’s DataFlow Transaction Network to collect, format and deliver its daily banking data. - Trintech announced that S&K Famous Brands, a retailer of menswear with stores in 27 states, selected Trintech’s DataFlow Transaction Network to collect, format and deliver daily banking data, and ReconNET to automate the verification and reconciliation of its cash and checks with its banks. - Trintech announced an expanded agreement that enables SunGard Treasury Systems to offer Trintech’s Bank Fee Analysis system to its customers. Trintechs Bank Fee Analysis solution is designed to help businesses reduce bank fees and standardize fee reporting through automation of the analysis of monthly electronic bank statements. - Trintech announced that it had been granted a Terminal Quality Management (TQM) label from MasterCard for its range of industry-leading Chip and PIN terminals for point-of-sale and unattended environments. - Trintech announced that its application to revoke the admission of its American Depositary Shares (ADSs) had been approved by the Frankfurt Stock Exchange. The revocation will be effective on May 11, 2005. The Company re-affirmed its commitment to maintain its listing on the NASDAQ National Market. Results Overview: - Revenue for the year ended January 31, 2005 was $55.8 million compared with $43.1 million for the year ended January 31, 2004, an increase of 30 percent. Fourth quarter revenue increased 23 percent to $15.1 million compared with $12.3 million for the corresponding quarter last year. - Product revenue for the year ended January 31, 2005 increased 83 percent to $18.8 million this year from $10.3 million last year. Q4 product revenue increased 56 percent to $5.3 million compared with the corresponding quarter last year. - Software license revenue for the year ended January 31, 2005 increased 3 percent to $23.6 million. Q4 software license revenue increased 11 percent to $6.5 million from $5.8 million in the corresponding quarter last year. - Service revenue for the year ended January 31, 2005 increased 35 percent to $13.4 million from $9.9 million last year. Service revenue increased 7 percent to $3.3 million this quarter compared with the corresponding quarter last year. The year on year increase includes post-a


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Categories: Payments & Commerce | Payments General
Countries: World
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