Nasdaq-quoted Irish software company Trintech has reported a 31 per cent rise in revenues to $9.64 million (€6.1 million) for the first quarter ending April 30th.
The company, whose principal offices are now in Dallas, said adjusted EBITDA net income was $405,000. It reported a gross margin of $6.7 million in the first quarter, representing 69 per cent of revenue. This compares with 66 per cent or $4.8 million during the first quarter last year.
The company said it increased its research and development spending to $1.5 million compared with $1.3 million in the first quarter last year.
Chief executive Cyril McGuire said the company's performance was "solid" and said recurring revenue was a major focus of the business model.
Expenditure on sales and marketing grew to $3.1 million from $2.5 million in the year ago period.
President Paul Byrne said the company was starting to see a return from its increased investment in sales and marketing programmes initiated last year and synergies from its two most recent acquisitions, Movaris and Concuity.
The purchase of Movaris was completed in the first quarter and is expected to contribute to full-year earnings this year.