Software group Trintech has reported a net loss of just under $1m for its second quarter to the end of July. This was slightly narrower than in the same period last year. Revenues were $10.5m, an increase of 18% on the same period a year earlier.
The company increased spending on research by 24% to $1.6m, and on sales and marketing by 17% to $3.5m, mainly due to the recent acquisition of Movaris. But Trintech cut its day-to-day running costs by 4% to $2.6m.
Chairman and CEO Cyril McGuire said continued uncertainty in the market had affected its revenues and earnings, and its outlook for the rest of the year.
