Shares in the Dublin-based e-payments firm Trintech fell more than 15 per cent yesterday following the company's second revenue warning in four months. The firm, which will report fourth-quarter results next Wednesday, said revenues would be $15-$16 million (€17-€18 million), compared with previous estimates of $17-$19 million. Trintech blamed a general worsening of market conditions.
The firm reiterated its end-year cash balance forecast of $57-$62 million. "In line with many software companies, the company experienced a continued downturn in the fourth-quarter license revenues," the company said in a statement.
Trintech also expects to record an impairment write-off of the majority of its goodwill from the acquisitions of Checkline, Sursoft, Exceptis and Globeset in its fourth-quarter results.
The firm said it had implemented strong cost controls, resulting in lower-than-expected operating expenses. Pro forma net losses will be in the range of $2-$3 million, a decrease on the $3.6 million in the prior quarter.
Shares in Trintech closed down 13.5 per cent at €1.34, a fall of 26 cents on the Neuer Markt stock exchange. Trintech develops secure payment infrastructure software for card-based transactions.
