R&D spending pushes software firm into red

A major surge in research and development& expenditure at the Irish arm of US-owned software company Intec was the main factor behind the firm recording pre-tax losses of €13.4m last year.

According to accounts just filed, Intec Billing Ireland Ltd recorded a pre-tax loss of €13.4m last year following a pre-tax profit of €3.9m in 2010. The figures show revenues for the 15-month period dropped to €32m from €35m during the prior 12-month period.

The software consultancy comp-any employs 108 people in the Galway IDA business park and provides business and operations support systems to service providers in the telecommunications market.