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Trintech Reports Net Income of $1.2m for the Quarter and Revenue Growth of 23% to $15.1m. Net Income of $2m for the Year and Revenue Growth of 30% to $55.8m
Dublin, Ireland/Dallas, Texas - February 23, 2005 - Trintech Group Plc (NASDAQ: TTPA: Prime Standard: TTP), a leading provider of transaction reconciliation and payment infrastructure solutions, today 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. Highlights * Revenue growth of 23 percent in Q4 compared to corresponding quarter last year. * Revenue growth of 30 percent for the full fiscal year compared to the prior fiscal year. * Trintech maintains profitability in Q4, with a net income of $1.2 million and an Adjusted EBITDA net income of $1.2 million. Adjusted EBITDA net income excludes restructuring charges, net amortization and impairment of goodwill and purchased intangible assets, depreciation, adjustment of acquisition liabilities, stock compensation, interest income, net and income taxes. * Full fiscal year profitability was $2 million and Adjusted EBITDA net income for the full fiscal year was $3.4 million. * Basic and diluted net income per equivalent ADS for the quarter ended January 31, 2005 was $0.07 compared with basic and diluted net income per equivalent ADS of $0.04 for the corresponding quarter ended January 31, 2004. * Basic and diluted net income per equivalent ADS for the year ended January 31, 2005 was $0.13 and $0.12 compared with basic and diluted net loss per equivalent ADS of $0.21 for the corresponding year ended January 31, 2004. Cyril McGuire, Chairman and Chief Executive Officer commenting on the results said: "Trintech's performance in Q4 and fiscal 2005 has been very solid with strong revenue and record profit growth. Our business continues to strengthen in our core markets of Funds Management and Reconciliation solutions with Chip and PIN solutions contributing strongly to the underlying growth. These results, along with our focused product set and global customer base, demonstrate the robustness of our business model which will position the company to deliver continued profitable growth and shareholder value." 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 …