Irish technology firm Trintech said revenue from continuing operations was $8.5 million in the first quarter of its fiscal year, 9 per cent higher than the same period a year earlier.
Earnings before interest, tax, depreciation and amortisation was $1 million, a rise of 30 per cent on last year, with net income from continuing businesses rising form $33,000 to $482,000.
The company sold its healthcare business Concuity to Nasdaq-listed Advisory Board on April 1st, which contributed $21.8 million to its net income for the quarter. Taking this business into account, the net income for the period reached $22.4 million.
The company boosted its spending on research and development by 11 per cent, investing $1.3 million in product development at its continuing operations. Expenses remained flat at $1.9 million.
Chief executive Cyril McGuire said the performance was “strong” with revenue growing robustly as the company won new clients and confidence in technology spending grew.
“This success will continue to be underpinned by the on-going need for corporate organizations to improve financial transparency and efficiency as they rebuild after the economic downturn,” added Trintech president Paul Byrne.
