Electronic payments firm Trintech has announced interim revenue to the end of July of $20.3m, compared with $21m for the same period last year, a fall of 3%.
Broken down, second quarter revenue fell by 8% to $10.1m, from $10.9m for the same quarter last year. Net losses for the quarter were reduced to $1.8m, compared with $5.1m a year earlier, reflecting ongoing cost reductions at the firm.
First half product revenue was up by 21% to $4.4m this year from $3.6m last year. Meanwhile second quarter product revenue remained flat at $1.8m compared with the corresponding quarter last year.
First half license revenue increased 3% to $11.4m from $11m, while first half service revenue fell 28% to $4.5m from $6.3m last year. Paul Byrne, chief financial officer at the firm said that the firm was still taking the steps needed to improve margins, cashflow and profits.
He said: 'We are dedicated to differentiating our solutions to bolster our market presence and build earnings momentum. This will provide the foundation for sustained profitability and enhanced shareholder value.'
