Security software group Trintech today reported first quarter revenues of $10.2 million, up 2 per cent on the same period last year.
The Dublin-based software company said product revenue in the first quarter increased by 43 per cent to $2.6 million and software licencing revenue rose by 6 per cent to $5.5 million over the same period.
However, service revenue decreased by 30 per cent to $2.1 million. The company reported a net loss per equivalent American Depository Share (ADS) OF $0.04 compared with a net ADS loss of $0.75 over corresponding quarter in 2002.
Cash usage was $2.9 million for the first quarter with Trintech's balance sheet showing closing cash and cash equivalent balances of $42.8 million.