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Irish News
Trintech results to end months of silence
Tuesday, May 29 14:09:56
Irish tech Trintech has kept its head down over the past few months, avoiding the negative attention that has plagued Datalex,
Baltimore and Horizon in recent months.
After announcing weaker than expected results in the previous quarter, having spent USD112m on acquisitions, the e-payment
software firm set about integrating its new businesses with the aim of cutting costs and keeping in on target for its own forecast for
profitability on a cash level in Q4 2001.
Apart from a brief television interview earlier this month, when he reiterated the group`s target, chief executive Cyril McGuire has kept
out of the limelight since the beginning of the year.
Paul Phelan of Davy Stockbrokers expects the firm to post revenues of USD16.7m for the quarter, an increase of 90pc year-on-year,
with licensing revenue forecast to make up USD7.5m of this. However, the firm is also expected to post a widening loss of
USD17.2m due to exceptional charges relating to the staff and operational cutbacks.
"People will be looking behind the figures," Phelan told Business & Finance Online today. "They will be looking for signs that the
recent acquisitions are starting to make a meaningful contributions to revenue".
On the collapse of the firm`s stock from a high of USD70 to around USD2.90, Phelan said this was largely due to the overall
negativity on the market and, although he has profitability pegged in for Q1 2002, he said it was not beyond the firm to beat this and
expects McGuire to retain its upbeat position tomorrow.
The company`s stock rose over 45pc last week, when it surged from USD2.07 on 18 May to USD3.01 on 22 May, most likely due to
an investment group picking up a few million shares at a bargain price ahead of the results – a move that could easily have spiked
the stock as it usually trades in relatively low volumes.
