Trintech results ahead of analysts' expectations

Secure payments software group Trintech has reported net incomes of $84,000 (€69,283) for Q1 of the fiscal year 2005.

The Bray-based firm said revenue growth was up 21% compared to the same period last year.

Product revenue was up 40% to $3.6m (€2.97m) for the quarter ended April 30 while license revenue for the quarter decreased 1% to $5.4m (€4.45m) in the same period.

Cyril McGuire, Chairman and Chief Executive Officer, said of the results: "I am delighted to report a solid set of results for Q1 with Trintech achieving healthy revenue growth and profitability.

"The business is now better focused and positioned to win new customers and expand partner

channels.

"Our group strategy to concentrate on key profitable products in growth markets is being executed to plan and is delivering the performance in top line growth and bottom line profitability."

Analysts said the results were ahead of expectations.