Trintech, plc

Trintech Reports Second Quarter Fiscal Year 2009 Financial Results

admin — Wed, 20 Aug 2008 07:00:58 +0000

Revenues of $10.5 million representing growth of 18% and Adjusted EBITDA Net Income of $215,000.

Dublin, Ireland/Dallas, Texas – August 20, 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions today announced revenues of $10.5 million for the second quarter ended July 31, 2008, an Adjusted EBITDA net income of $215,000 and a net loss for the quarter of $965,000.

Highlights:

Revenue amounted to $10.5 million compared to $8.9 million in Q2 last year, representing 18% growth. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.
Gross margin amounted to $7.1 million in Q2, representing 68% of revenue, compared to $6.0 million and 68% in Q2 last year.
Trintech increased expenditure in research and development by 24% from $1.3 million in Q2 last year to $1.6 million in the same quarter in the 2009 fiscal year. The increase was primarily due to the inclusion of costs relating to the recently acquired Movaris business.
Trintech increased expenditure in sales and marketing by 17% from $3.0 million in Q2 in the 2008 fiscal year to $3.5 million in the same quarter in the 2009 fiscal year. The increase was primarily due to the inclusion of costs relating to the recently acquired Movaris business.
General and administrative expenses decreased by 4% in Q2 of the 2009 fiscal year compared to Q2 of the 2008 fiscal year to $2.6 million compared to $2.7 million in the prior fiscal year. The decrease was primarily due to a reduction in salary, legal and professional and occupancy costs which more than offset the increase in the quarter due to the inclusion of costs relating to the recently acquired Movaris business and the impact of the weakening US Dollar against the euro.
Trintech generated an Adjusted EBITDA net income of $215,000 for Q2 of the 2009 fiscal year compared to an Adjusted EBITDA net loss of $210,000 for the corresponding period in the prior year.
Combined basic and diluted net loss per equivalent ADS for the quarter ended July 31, 2008 was $0.06, compared with a basic and diluted net loss per equivalent ADS of $0.07 for the quarter ended July 31, 2007.

Cyril McGuire, Chairman & Chief Executive Officer said, “Trintech’s performance in Q2 was solid with revenue growth of 18% and adjusted EBITDA net income of $215,000 despite the challenges of the economic environment. However, the continued uncertainty in the market has negatively impacted our revenue and earnings results and business outlook for the rest of the year. Our management focus will continue to be on driving revenue growth and EBITDA profitability while extracting cost synergies from our recent acquisition of Movaris and maintaining a strong vigilance on our operating cost base given our outlook for the business. Following shareholder approval of our share buy-back at our recent AGM, we intend to initiate the purchase of our stock as our board strongly feels that the current Trintech share price does not accurately reflect the true enterprise value of the business.”

Paul Byrne, President, added, “In spite of the difficult economic environment, we believe our strategy of focusing on a broader product set, expanding our presence in the international market, and ensuring an efficient operating cost base will enable Trintech to deliver continued year over year growth in revenue and EBITDA profitability.”

Recent Highlights include:

Trintech announced that Somerston Hotels Ltd selected ReconNET to improve reconciliation and exception management processes while increasing operational efficiencies. Somerston Hotels owns and operates 32 hotels throughout the United Kingdom under two international brands, Express by Holiday Inn and Ramada Encore. With 31 Express by Holiday Inn hotels, Somerston Hotels is the largest franchisee of the brand in the United Kingdom.

Trintech announced that BAE Systems Shared Services has selected AssureNET GL to increase the timeliness and accuracy of their balance sheet account reconciliations. AssureNET GL is an automated reconciliation software system that assists in performing this critical business function, while facilitating internal controls and compliance. BAE Systems, with operations across five continents and customers and partners in more than 100 countries, develops, delivers, and supports advanced defence and aerospace systems in the air, on land, and at sea.

Trintech announced the newest release of its best-of-breed financial governance application suite, Unity 10.1, for enterprise risk management, accounting compliance, account reconciliation, financial close, and financial reporting. Unity 10.1 delivers enhanced management oversight capabilities of the reconciliation processes as they pertain to period-end financial close and reporting processes.

Trintech announced the latest release of its innovative Lifecycle Management (LCM) Payments solution for financial institutions. LCM Payments is a .NET browser-based account reconciliation and positive pay solution that enables financial institutions to provide their clients with a diverse range of real-time capabilities, based on customer-specific business requirements, while consolidating multiple existing systems into a single integrated platform. LCM Payments supplements other treasury management services solutions with advanced fraud prevention technology to provide clients with complete visibility into the status of their payments.

Concuity, the healthcare division of Trintech, announced the availability of PriceAdvisor^TM, a web-based solution that will enable hospitals to accurately produce patient estimates by utilizing payer contracts, actual claim data, and patient benefit information.

Concuity also announced its partnership with Financial Healthcare Systems (FHS Corp), a provider of a web-based solution for credible procedural price estimates that provides patients with specific out-of-pocket costs, allowing them to better plan for impending medical expenses, while giving hospitals the ability to more accurately project revenue. By partnering with FHS Corp, Concuity further enhances its value proposition for hospitals seeking to increase customer satisfaction, streamline operations, and improve revenue calculation.

Trintech announced that it has been named a “Cool Vendor” in the Gartner report titled “Cool Vendors in Compliance and Risk Management, 2008″, published on April 24, 2008. Trintech was included in the report by Gartner analyst John E. Van Decker, et al. The report asserts “firms that are focusing their Governance, Risk and Compliance, or GRC efforts on the office of finance and want to bring in more innovative approaches to financial governance should consider best-of-breed applications and ERP offerings in this emerging market.”

Trintech held its 9th Annual General Meeting (AGM) as a public company in Dublin, Ireland. At the AGM, Cyril McGuire, Chairman and CEO, welcomed the approval by shareholders of all the ordinary and special resolutions including the approval of a share buy-back agreement with First Analysis Securities Corporation. The timing and amount of any repurchase by Trintech under the share buy-back program will be dependent upon market conditions, securities law limitations and other corporate considerations.

Trintech announced the successful conclusion of its twelfth annual US-based Customer Conference held May 19-22 at the Royal Sonesta Hotel in New Orleans, Louisiana. The Conference featured KPMG Advisory Services Principal, Richard Beacham; KPMG Advisory Services Director, Mike Scanlon; Prodiance President and CEO, Soheil Saadat; and more than 200 accounting and treasury professionals from world-class organizations, including eBay, ANZ Bank, Nike, Target, Monster Worldwide, and Yahoo; and sponsors PNC, Solutran, Harland Clarke, and Garda. This year’s conference theme focused on helping clients make financial governance a strategic asset in their business.

Results Overview:

Revenue for the second quarter was $10.5 million compared with $8.9 million for the corresponding quarter last year, an increase of 18%. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.

Software license revenue for the quarter ended July 31, 2008 was $5.4 million compared with $4.5 million for the corresponding quarter in the prior year, an increase of 19%. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.

Service revenue for the second quarter increased 17% to $5.1 million from $4.4 million for the corresponding quarter in the prior year. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.

Total gross margin for the second quarter was $7.1 million, an increase of 17% from $6.0 million in the corresponding quarter in the prior year.

Total operating expenses for the second quarter were $8.0 million, an increase of 11% from $7.2 million in the corresponding quarter in the prior year. Adjusted EBITDA operating expenses for the quarter ended July 31, 2008 were $7.1 million, an increase of 10% on the Adjusted EBITDA operating expenses of $6.5 million for the corresponding period in the prior year.

Consolidated Adjusted EBITDA net income was $215,000 for the second quarter compared to an Adjusted EBITDA net loss of $210,000 for the corresponding quarter in the prior year.

Trintech’s balance sheet remains strong with net cash and cash equivalent balances of $15.9 million as of July 31, 2008. Net cash utilized for the three months ended July 31, 2008 was $545,000, which included cash utilized in operations of $120,000 and payments related to acquisitions of $398,000. Included in payments related to acquisitions is a $352,000 purchase consideration payment to the ex-owners of the Assurity business that Trintech acquired in February 2006.

Trintech will host a conference call to discuss its financial results and business outlook beginning at 15:30hrs (UK Time) today, Wednesday, August 20, 2008. Please see advisory for information on the call.

A web simulcast of Trintech’s conference call reviewing our performance for Q2 fiscal year 2009 and our business outlook for Q3 and full fiscal year 2009 will be broadcast live today, Wednesday, August 20, 2008 at 15:30 hrs (UK Time), 10:30 hrs (NY Time) and 07:30 hrs (CA Time) and thereafter for 1 year at www.trintech.com/investor. An instant telephone replay will also be available for 10 days by dialing +44 1452 55 00 00 and entering the following access number (5 9 6 3 2 6 9 2 #).

Please click here to read the press release in its entirety.

About Trintech Group

Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions. The Company enables companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 570 leading global organizations are realizing the benefits of Trintech solutions every day to gain greater control, visibility, and efficiency across financial processes; improve financial performance through stronger management of revenue and cost cycles; ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements and to drive immediate efficiencies and cost reductions in financial operations through automation and scalability. Trintech’s customers include retail chains, commercial companies, financial institutions and healthcare providers in the United States, the UK and the Republic of Ireland, continental Europe and Australia. Top customers in recent years include Accenture, Regis Corporation, Sodexho Operations, Target Stores, Providence Health and Cleveland Clinic.

Trintech’s technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.

For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at www.trintech.com or at our principal business office in Addison, Texas, or through an international office in Ireland, the United Kingdom, or the Netherlands.

Trintech • 15851 Dallas Parkway, Suite 900 • Addison, TX 75001 • Tel 1 972 701 9802
Trintech UK Ltd. • Warnford Court, 29 Throgmorton St. • London EC2N2AT, UK • Tel +44 (0) 20 7628 5235
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18, Ireland • Tel +353 1 293 9840
Trintech • Cypresbaan 9 • 2908 LT Capelle a/d Ijssel, The Netherlands • Tel +31 (0) 10 8507 474

Forward Looking Statements

This news release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any “forward looking statements” in this press release are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. “Forward looking statements” in this press release include statements, among others, relating to Trintech’s growth strategy for fiscal 2009, Trintech management’s belief that the company’s broader product portfolio will drive revenue and EBITDA growth, the expected benefits from the acquisition of Movaris Inc.,the expected benefits that BAE Systems Shared Services will receive from its installation of AssureNET GL, the expected benefits that Somerston Hotels Ltd will receive from its installation of ReconNET, and Trintech’s intention to buy back its shares. Factors that could cause or contribute to such differences include Trintech’s ability to accurately predict future sales, its ability to accurately predict and meet customer needs and to successfully position itself in the market, Trintech’s ability to ensure the performance of its products and services, and its ability to improve the performance of its organization and ensure the long term health of its business. Actual performance may also be affected by other factors more fully discussed in Trintech’s Form 20-F for the fiscal year ended January 31, 2008 filed with the US Securities and Exchange Commission (www.sec.gov) and subsequent filings with the US Securities and Exchange Commission. Lastly, Trintech assumes no obligation to update these forward-looking statements.

Somerston Hotels Selects Trintech’s ReconNET to Reduce Operational Risk and Support Future Growth

admin — Mon, 18 Aug 2008 07:00:02 +0000

ReconNET for Accounting and Treasury Lifecycle Management to Help UK Hospitality Company to Improve Transaction Reconciliation and Exception Management

London, UK / Dublin, Ireland – 18 August 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Somerston Hotels Ltd has selected ReconNET to improve reconciliation and exception management processes while increasing operational efficiencies.

Somerston Hotels owns and operates 32 hotels throughout the United Kingdom under two international brands, Express by Holiday Inn and Ramada Encore. With 31 Express by Holiday Inn hotels, Somerston Hotels is the largest franchisee of the brand in the United Kingdom.

“We’re growing at a rapid pace, and our existing reconciliation methodology is no longer efficient in terms of time, labor, and control,” said Janet Towers, Finance Director, Somerston Hotels. “With the aim and potential to double in size in the next few years, we wanted a scalable solution that will grow with us, as well as one that will streamline daily reconciliations, speed the identification of exceptions, increase resolution efficiencies, reduce operational costs, and help us improve reporting and gain greater financial controls.”

The flexibility of the ReconNET solution is ideally suited to meet a wide range of financial reconciliation process requirements, and the scalability of the system will give Somerston the ability to grow without the need to add the significant cost of additional personnel to manage processes underpinned by ReconNET. ReconNET’s non-invasive integration with ERP solutions will enable Somerston to leverage their investment in their new ERP system to improve sales data availability.

“We look forward to working closely with Somerston Hotels, helping them to improve reconciliation processes across their enterprise. Our solutions are enabling highly-efficient financial processes for many leading hospitality and lodging chains in the UK market,” said Tony Bethell, VP EMEA for Trintech. “We’re committed to helping our clients ensure the accuracy and integrity of their financial data, while supporting their plans for aggressive growth.”

About Somerston Hotels

Somerston Hotels owns and operates 32 hotels with a total of 3,795 rooms throughout the United Kingdom. Somerston Hotels’ business strategy is to grow the company through acquisition and development. In 2005, the business, through major acquisitions, grew from 15 hotels to 31. In 2006, Somerston Hotels made an additional acquisition and expanded existing hotels in key locations across the country. Somerston Hotels now offers convenient and value-priced accommodations throughout Scotland, England, and Wales. For more information, please visit www.somerstonhotels.co.uk.

About Trintech Group

Trintech Group Plc (NASDAQ: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech’s recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.

Over 600 leading global organizations realize the benefits of Trintech’s configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, eBay, Farmer’s Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

BAE Systems Shared Services Finance Selects Trintech’s AssureNET GL to Improve Internal Controls

admin — Tue, 05 Aug 2008 07:00:17 +0000

Financial Shared Services Group for Leading Manufacturer of Advanced Defence and Aerospace Systems to Use AssureNET GL to Automate and Control Key Accounting Activities

London, UK / Dublin, Ireland – 5 August 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that BAE Systems Shared Services has selected AssureNET GL to increase the timeliness and accuracy of their balance sheet account reconciliations. AssureNET GL is an automated reconciliation software system that performs this critical business function, while ensuring internal controls and compliance.

BAE Systems, with operations across five continents and customers and partners in more than 100 countries, develops, delivers, and supports advanced defence and aerospace systems in the air, on land, and at sea.

“AssureNET GL will provide us with better visibility and control. We’re adopting what we believe is a best practice solution to strengthen our control processes,” said BAE Systems’ Richard Rowe, Financial Controller, Accounting Services. “Our future plans include the extension of the application to underpin our Financial Controls Framework through AssureNET GL’s task management workflow.”

AssureNET GL provides distinct workflow management for balance sheet account reconcilers, reviewers, and approvers. Time-consuming tasks such as the notification and tracking of accounts and deadlines are automated, and AssureNET GL’s risk management features enable detailed analysis, reporting, and documentation of current and potential risk. Companies that migrate to AssureNET GL from manual, spreadsheet-driven processes that rely heavily upon paper and email have realized an increased confidence when certifying financial results.

“This is a significant win for Trintech. We’re delighted BAE Systems Shared Services selected AssureNET GL to automate the preparation, tracking, review, and assessment of account reconciliations,” said Tony Bethell, VP EMEA for Trintech. “They’re taking an innovative approach to strengthening controls while simplifying account reconciliation processes across their enterprise.”

About BAE Systems

BAE Systems is the premier global defence and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions, and customer support services. With 96,000 employees worldwide, BAE Systems’ sales exceeded £15 billion (US $27 billion) in 2006*.
*On a pro forma basis, assuming BAE Systems had owned Armor Holdings Inc for the whole of 2006.

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Trintech Group Plc’s Annual General Meeting for 2008

admin — Thu, 24 Jul 2008 18:37:11 +0000

Chairman’s Updating Statement

Dublin, Ireland – July 24, 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today held it’s 9th Annual General Meeting (AGM) as a public company in Dublin, Ireland.

At the AGM, Cyril McGuire, Chairman and CEO, welcomed the approval by shareholders of all the ordinary and special resolutions including the approval of the share buy-back agreement with First Analysis Securities Corporation. The timing and amount of any repurchase by Trintech under the share buy-back program will be dependent upon market conditions, securities law limitations and other corporate considerations.

Mr. McGuire said, “Trintech’s business performance in FY08 was solid as we complete the transition to more focused, higher value software and transaction based services business model. Our operating plan for next year is to drive revenue growth and EBITDA profitability with a strong focus on our operating cost efficiency given the challenges of the economic environment.”

About Trintech Group

Contact:

Paul Byrne, President
T. +353 1 293 9840
E. paul.byrne@trintech.com

Trintech Strengthens its Leadership in the Financial Governance Solutions Market with a New Release of the Unity Suite

admin — Mon, 21 Jul 2008 07:00:30 +0000

Unity 10.1 Integrates AssureNET GL with Financial Close to Improve Management Oversight of Period-End Close Processes and Expands XBRL Capabilities to Ensure Financial Reporting Accuracy

Dallas, TX / Dublin, Ireland – 21 July 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced the newest release of its best-of-breed financial governance application suite for enterprise risk management, accounting compliance, account reconciliation, financial close, and financial reporting. Unity 10.1 delivers enhanced management oversight capabilities of the reconciliation processes as they pertain to period-end financial close and reporting processes. Additionally, enterprises may produce eXtensible Business Reporting Language or “XBRL” compliant financial reports via the One Button Publisher capability.

The integration of Unity Financial Close and AssureNET GL represents one of many innovative product initiatives Trintech has undertaken since the acquisition of Movaris in February 2008. Financial Close provides an enterprise management and compliance framework for the financial close process, including integration of related compliance and risk and financial reporting activities. AssureNET GL automates the review, approval, and status tracking of account reconciliations and through Financial Close will provide a management view of account reconciliation status across an enterprise. Within Unity 10.1, the Financial Close application serves as the integration point through which account reconciliation statistics from AssureNET GL are displayed via the Close Task Status Console.

In response to the recent SEC proposal which will require companies to provide financial statement information in a format that will improve its usefulness to investors, Trintech has enhanced Unity’s current eXtensible Business Reporting Language or “XBRL” format tagging capabilities to support the creation and export of XBRL-compliant financial reports. In addition to producing a company’s Disclosure Index (e.g., 10-Q, 10-K, 20-F) in MS Word format, via Unity’s One Button Publisher capability, Unity 10.1 delivers an additional option to output a Disclosure Index in XBRL format for review within off-the-shelf XBRL-ready viewers or Edgarizing software tools.

“XBRL is currently not a mandatory requirement of the SEC, though the regulatory agency is looking at implementing financial reporting standards that include XBRL input and output. This will require firms to implement solutions for deploying XBRL for statistical reporting, regulatory financial reporting, tax reporting, and management reporting,” said Gartner Research Vice President, John Van Decker. “XBRL will enable the office of finance to shift the finance function; it’s through this technology that data can be extracted, aggregated, consolidated, analyzed, and extrapolated with greater consistency.”

“We’re very excited about the release of Unity 10.1. By using Unity, organizations can automate the processes of financial data collection. The use of XBRL will provide major benefits in the preparation, analysis, and communication of information through cost savings, greater efficiency, and improved dependability for all involved in supplying or using financial data,” said John Harte, EVP and General Manager for Trintech. “The management of the entire close process, including account reconciliation activities (via the integration of AssureNET GL with Unity) is one more product development milestone for Trintech, which has been providing best-of-breed financial governance applications for 20-plus years.”

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Trintech Announces New Release of LCM Payments for Account Reconciliation and Positive Pay

admin — Mon, 07 Jul 2008 07:00:51 +0000

Trintech’s LCM Payments Version 1.7 Presents a Distinct Competitive Advantage for Financial Institutions by Providing Fully Integrated Web Capability for Real-Time Positive Pay Decisioning, Image Enablement, and Flexible Reconciliation Reporting

Dallas, TX / Dublin, Ireland – 7 July 2008 – Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced the latest release of its innovative Lifecycle Management (LCM) Payments solution for financial institutions. LCM Payments is a .NET browser-based account reconciliation and positive pay solution that enables financial institutions to provide their clients with a diverse range of real-time capabilities, based on customer-specific business requirements, while consolidating multiple existing systems into a single integrated platform. LCM Payments supplements other treasury management services solutions with advanced fraud prevention technology to provide clients with complete visibility into the status of their payments.

LCM Payments 1.7 seamlessly integrates into a financial institution’s existing IT and payment system infrastructure delivering industry-leading features, including:

Feature:	Benefit:
Positive Pay:	Provides customers of financial institutions with an effective deterrent to fraud
LCM Dashboard:	Provides an easily accessible web gateway for the customers of financial institutions to upload / download files or reports, search payments, etc.
Teller Positive Pay:	Expands revenue for financial institutions and provides a front-line defense against fraud
Partial Deposit Recon:	Expands revenue for financial institutions by allowing customers to easily identify deposits by location
File Management Console:	Enables a financial institution to easily monitor the uploading, conversion, and loading of customer-provided issue, stop, and void data
Report and Extract Reporting:	Facilitates a financial institution’s rapid setup and deployment of reports and extracts to customers based upon assigned services (e.g., partial recon, full recon, positive pay, teller positive pay, and partial deposit recon)

Michael Campbell, Executive Vice President for Bank of Nevada, said, “With this version of LCM Payments, the Bank of Nevada will be able to provide new, value-added treasury management services to existing clients. We’re already attracting new corporate clients through LCM Payment’s truly unique capabilities.”

LCM Payments allows financial institutions to offer their clients customized workflows for exceptions, statuses, and payment actions. The web front-end eliminates the limitations inherent in existing on-line positive pay and account reconciliation treasury management offerings. Additionally, the solution increases the relationship value between available legacy solutions and LCM Payments’ industry-leading features and functionality.

“By creating internal efficiencies, LCM Payments reduces IT and operational costs for financial institutions,” said Kevin Connelly, Senior Vice President and Managing Director, the Financial Service Group, Trintech. “Our goal is to strengthen the solution’s value proposition to financial institutions and their corporate clients with each round of development. Today, with LCM Payments, a financial institution can increase service levels and generate incremental revenue, while reducing related operating costs.”

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Annual Shared Services and Business Process Outsourcing Conference

admin — Fri, 27 Jun 2008 19:24:38 +0000

October 23, 2008 to October 24, 2008

Event: Annual Shared Services and Business Process Outsourcing Conference
Location: Madrid, Spain
Participation: Sponsor and Exhibitor

We’re proud to to be a sponsor of this event. This event is for you whether you are considering shared services for the first time, looking to consolidate a number of operations, or under pressure to optimise an already established shared services centre (SSC). Please register today!

Toning Up Purchase to Pay to Attain Touchless Processing

admin — Fri, 27 Jun 2008 19:08:26 +0000

October 15, 2008 to October 17, 2008

Event: Toning Up Purchase to Pay to Attain Touchless Processing
Location: Paris, France
Participation: Learning Lab Presenter

If you want to know how to reduce transaction costs by 50%, save $1.2 million per annum through enforcing PO compliance, reach 85% first time match, and have touchless processing as a standard, then register to learn how leading global companies have managed it. Registration information coming soon.

Concuity Announces the Availability of PriceAdvisor

admin — Tue, 24 Jun 2008 07:00:01 +0000

Concuity’s Release of PriceAdvisor Combats Ineffective Pricing Transparency to Increase Patient Satisfaction & Improve Revenue Projection and Recovery for Hospitals

Vernon Hills, Illinois/Dublin, Ireland - 24 June 2008 - Concuity, a healthcare division of Trintech (NASDAQ: TTPA) and a leading provider of contract management and revenue recovery technology (”Peer Reviewed by HFMA”) and services, today announced the availability of PriceAdvisorTM, a web-based solution that will enable hospitals to accurately produce patient estimates by utilizing payer contracts, actual claim data, and patient benefit information.

There is a push toward increased healthcare quality and pricing transparency in the marketplace, largely driven by the growth in consumer-directed health plans, and as a consequence, hospitals are beginning to realize the importance of providing their patients with estimates for out-of-pocket costs, which is also an approach favored by HFMA. The problem is that it’s often difficult for hospitals to provide meaningful and comparable pricing information. This is where PriceAdvisor can help our clients. PriceAdvisor can provide patient-specific costs - claim estimates based not on just historical patient payments, but on current contract and claim data. PriceAdvisor helps patients learn more about their financial responsibility before receiving treatment, and it gives hospitals the ability to more accurately project their revenue.

“PriceAdvisor goes beyond current patient estimators available today. It provides consumers with upfront estimates of their healthcare costs based on actual contract obligations between providers and payers,” said Ed Gallo, EVP for Concuity. “PriceAdvisor takes front-end information from patient registration and creates a predictive claim prior to admission. The claim is then adjudicated against contractual obligations with insurance companies. What is then presented to the patient is a true, easy to understand estimate of their financial responsibility for a planned healthcare visit. Ultimately, PriceAdvisor improves the quality of a patient’s experience. Additionally, the solution creates visibility into hospital revenue much earlier in the revenue cycle - while increasing efficiencies, accelerating payments, and enhancing workflow.”

About Concuity

Founded in 2000 by a group of healthcare industry visionaries, and now a division of Trintech, Concuity improves its customers bottom line performance by delivering targeted revenue recovery solutions on a SAAS platform, including ClearContractsTM which has been reviewed by HFMA and features the notable “Peer Reviewed by HFMA” mark, that ensure accurate claims reimbursement, improve workflow and payment collection, streamline contract negotiations, optimize cash flow and profitability, and ensure accurate implementation and compliance.

Concuity’s rich industry knowledge and market-focused technology solutions and services empower your organization to identify and then eliminate systemic issues that cause revenue inefficiencies. The result is a significant return on investment with long term sustainable improvement in revenue and profitability for our clients. For more information, call 847-465-6003 or visit www.concuity.com.

About Trintech Group

Trintech Press Contact

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Concuity Announces Partnership with Financial Healthcare Systems, LLC

admin — Mon, 23 Jun 2008 07:00:12 +0000

Partnership Expands Concuity’s Product Suite by Adding Price Transparency

Vernon Hills, Illinois/Dublin, Ireland - 23 June 2008 - Concuity, a healthcare division of Trintech (NASDAQ: TTPA) and a leading provider of contract management and revenue recovery technology (”Peer Reviewed by HFMA”) and services, today announced its partnership with Financial Healthcare Systems (FHS Corp), a provider of a web-based solution for credible procedural price estimates that provides patients with specific out-of-pocket costs, allowing them to better plan for impending medical expenses, while giving hospitals the ability to more accurately project revenue. By partnering with FHS Corp, Concuity further enhances its value proposition for hospitals seeking to increase customer satisfaction, streamline operations, and improve revenue calculation.

PriceAdvisorTM, developed as a result of this technology partnership, will provide a seamless interface from the ClearContracts system to accurately calculate patient financial responsibility at any point during a patient encounter. Calculations are based on actual contractual agreements that providers have with insurance companies for covered patients.

“Our goal is to gather pricing information and disseminate it in a manner that will be of use to the healthcare consumer. The toughest barrier for most hospitals is the availability of tools with which they can present this data to patients. Many hospitals work with a blue bar sheet from their Charge Description Master,” said Travis Gentry, President for FHS Corporation. “Concuity’s PriceAdvisor, integrated with its contract management system, will leverage contract management data so that hospitals can estimate what it costs for a particular diagnosis or procedure, what a payer will pay, and what a patient can expect their balance to be. The marriage of ClearContracts with a price transparency application makes perfect sense.”

“Our partnership with FHS Corporation will provide additional growth opportunities for both companies and it represents an important addition to our well-established ClearContracts suite,” said Ed Gallo, EVP for Concuity. “Additionally, we’re pleased to provide an application that benefits both consumers and hospitals. Consumers get patient-friendly billing, which incorporates their specific condition and insurance coverage and hospitals get a system which enables them to earlier and better forecast revenue.”

About Financial Healthcare Systems, LLC (FHS Corp)

Founded in 2005, FHS Corp is a national company focused on providing innovative financial healthcare systems. The Denver-based company provides a web-based solution, ACE Logicus™, which generates credible procedural price estimate that provide patients with specific out-of-pocket costs. This allows patients to plan for potential medical expenses. FHS Corp has gained national recognition for their work on Capitol Hill advocating for price transparency within the healthcare industry. For more information, please visit www.fhscorp.net or call 303-216-0202.

About Concuity

About Trintech Group

Trintech Press Contact

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

IQPC Shared Services Summit

stefan — Fri, 20 Jun 2008 14:35:07 +0000

September 22, 2008 to September 25, 2008

Event URL: IQPC Shared Services Summit
Location: Las Vegas, Nevada
Participation: Speaker and Exhibitor

During this 12th annual conference, you’ll be brought up to speed with the latest in Shared Services intelligence. This carefully balanced blend of workshops, keynote presentations, site visits, and round table discussions will provide you with the information you need to move your SSO to the next level. Register today!

Toning Up Purchase to Pay Attain Touchless Processing

stefan — Fri, 20 Jun 2008 14:31:21 +0000

June 18, 2008 to June 20, 2008

Event URL: Toning Up Purchase to Pay to Attain Touchless Processing
Location: London, UK
Participation: Learning Lab Presenter

If you want to know how to reduce transaction costs by 50%, save $1.2 million per annum through enforcing PO compliance, reach 85% first time match, and have touchless processing as a standard, then register today to hear how Cargill, SCA Hygiene, Microsoft, Ford, Cable & Wireless, O-I, Sealed Air, and other leading companies have all managed it.

IASA

stefan — Fri, 20 Jun 2008 14:30:39 +0000

June 1, 2008 to June 4, 2008

Event URL: IASA
Location: Seattle, Washington
Participation: Exhibitor

IASA 2008 will provide the most comprehensive educational program and business show targeted for financial and technology professionals in the insurance and financial services industry. IASA’s education program is designed to give you skills that can be implemented right away and present strategies for developing the future of your company. Participant profiles include senior management such as, CFO, CSO/CIO, CEO/COO, Vice President, Manager, Director and Controller.

Shared Services Week 2008

stefan — Fri, 20 Jun 2008 14:30:02 +0000

May 19, 2008 to May 22, 2008

Event URL: Shared Services Week 2008
Location: Barcelona, Spain
Participation: Exhibitor and Workshop Leader

During this 8th annual conference in Europe, you’ll be brought up to speed with the latest in Shared Services intelligence. This carefully balanced blend of workshops, keynote presentations, site visits, and round table discussions will provide you with the information you need to move your SSO to the next level. Whether you’re at the start of your project or in its later stages, there’s something for you! Register today. And, if you’d like to book a meeting with a Trintech representative in advance, please contact Carol Orr at carol[dot]orr[at]trintech.com.

Trintech’s Annual Customer Conference Brings Together over 200 Professionals from 112 Companies to Learn the Latest Innovations in Financial Governance, Risk Management, and Compliance Technologies

admin — Mon, 09 Jun 2008 07:00:19 +0000

Dallas, TX / Dublin, Ireland - 9 June 2008 - Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced the successful conclusion of its twelfth annual US-based Customer Conference held May 19-22 at the Royal Sonesta Hotel in New Orleans, Louisiana. The Conference featured KPMG Advisory Services Principal, Richard Beacham; KPMG Advisory Services Director, Mike Scanlon; Prodiance President and CEO, Soheil Saadat; and more than 200 accounting and treasury professionals from world-class organizations, including eBay, ANZ Bank, Nike, Target, Monster Worldwide, and Yahoo; and sponsors PNC, Solutran, Harland Clarke, and Garda.

This year’s conference theme focused on helping clients make financial governance a strategic asset in their business. The conference recognized that The Office of the CFO has changed in today’s organization and that the CFO and his finance team are now “Change Agents” within their companies, leading financial governance initiatives to manage risk, regulatory compliance, and optimize financial performance. Forty sessions were held with topics including: Confronting Sarbanes-Oxley Challenges Head-On; Best Practices for Managing a Reconciliation Department; LCM Payments - Next Generation Life Cycle Management; 21st Century Spreadsheet Control System; Using AssureNET GL to Manage the Account Reconciliation Function; Trintech Unity Financial Close, and ReconNET for Advanced Transaction Matching.

Feedback from attendees was highly favorable:
- “The best reason to attend the conference is for user interaction, new product overviews, and to learn more about the current product we’re using.”
- “The staff went out of their way to make sure I felt welcome and was introduced to others. This was the most enjoyable conference I’ve attended. Thanks for a great week.”
- “This has been a very informative conference. I have learned so much and I’m excited to go back and put “new” practices in place!”

This year’s Executive Circle brought together thought leaders for one day to discuss best practices, unique business experiences, and roadmaps for the future. John Harte, EVP and General Manager for Trintech moderated the day’s proceedings and led the executive round table at day’s end. In addition to a key presentation from KPMG, presentations were also provided by Stan Kong, Director Financial Process & Integration for eBay; Chris Nichols, Vice President and Controller for Berkshire Property Advisors; Bruce Phillips, Program Director Reconciliations for ANZ Bank; and Barbara Littrell, Compliance Manager for Nike.

Trintech’s Healthcare Division, Concuity also achieved large attendance. The sessions were moderated by Ed Gallo, EVP and General Manager for Healthcare and included a key guest presentation from Travis Gentry, President of FHS Corp. Gentry presented “Enabling Technology to Battle Ineffective Price Transparency”. A customer spotlight case study featuring The Cleveland Clinic was also delivered.

“This year we realized some of our greatest developments in terms of products, market reach, customer growth, and company visibility,” said Cyril McGuire, Chief Executive Officer for Trintech. “We’re pleased to be leading the development and provision of financial governance software and services which delivers real added value to customers by providing greater control and visibility across critical financial processes and leads to cost efficiencies and improved financial performance. We’re here to help our clients enhance their business operations and remain competitive in the global marketplace.”

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Trintech Named “Cool Vendor” in Compliance and Risk Management by Leading Analyst Firm

admin — Tue, 27 May 2008 07:00:07 +0000

Vendors Selected for the “Cool Vendor” Report are Innovative, Impactful, and Intriguing

Dallas, Texas/Dublin, Ireland - 27 May 2008 - Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that it has been named a “Cool Vendor” in the Gartner report titled “Cool Vendors in Compliance and Risk Management, 2008″, published on April 24, 2008.

Trintech was included in the report by Gartner analyst John E. Van Decker, et al. The report asserts “firms that are focusing their GRC efforts on the office of finance and want to bring in more innovative approaches to financial governance should consider best-of-breed applications and ERP offerings in this emerging market.”

Trintech’s financial governance solutions help clients: gain greater control, visibility, and efficiency across financial processes; improve financial performance through stronger management of revenue and cost cycles; ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

The report further asserts that “in the office of finance, there has been a focus on transactional excellence through the deployment of ERP solutions; however, many companies have had issues with compliance and need to take an end-to-end/holistic view on financial governance that these applications can provide.”

“It’s very gratifying to have Gartner evaluate the unique value our innovative technology provides the office of finance. We believe this is recognition and a vote of confidence in our approach to delivering best in class, end-to-end financial governance solutions that address the specific requirements of organizations worldwide,” said John Harte, EVP and General Manager for Trintech.”

About Gartner’s Cool Vendors Selection Process

Gartner’s listing does not constitute an exhaustive list of vendors in any given technology area, but rather is designed to highlight interesting, new and innovative vendors, products, and services. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness of a particular purpose. Gartner defines a cool vendor as a company that offers technologies or solutions that are: innovative - enable users to do things they couldn’t do before; impactful - have, or will have, business impact (not just technology for the sake of technology); and intriguing - have caught Gartner’s interest or curiosity in approximately the past six months.

About Trintech Group

Trintech Group Plc (NASDAQ: TTPA) is a leading provider of integrated financial governance, transaction risk management, and compliance solutions for commercial, financial, and healthcare markets worldwide. Trintech’s recognized expertise in reconciliation process management, financial data aggregation, revenue and cost cycle management, financial close, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.

Over 600 leading global organizations realize the benefits of Trintech’s configurable and highly scalable solutions everyday, including 7-Eleven, Accenture, Allianz Life North America, Ameren, Bank of Nevada, Farmer’s Insurance Group, Kinder Morgan, Regal Entertainment, Rohm and Haas, Sears, UPMC, Verizon Wireless, Wyndham Worldwide, and YUM! Brands Restaurants.

Trintech • 15851 Dallas Parkway, Suite 900 • Addison, TX 75001 • Tel 1 972 701 9802
Trintech UK Ltd. • Warnford Court, 29 Throgmorton St. • London EC2N2AT, UK • 44 (0) 20 7628 5235
Trintech Technologies • Block C, Central Park • Leopardstown, Dublin 18, Ireland • Tel 353 1 293 9840

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Trintech Reports First Quarter Fiscal Year 2009 Financial Results

admin — Wed, 21 May 2008 07:00:09 +0000

Revenues of $9.64 million representing growth of 31% and Adjusted EBITDA Net Income of $405,000.

Dublin, Ireland/Dallas, Texas - May 21, 2008 - Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions today announced revenues of $9.6 million for the first quarter ended April 30, 2008, an Adjusted EBITDA net income of $405,000 and a net loss for the quarter of $488,000.

Highlights:

Trintech closed the acquisition of Movaris, Inc., a venture capital backed private company based in San Jose, California, on February 14, 2008. The transaction is expected to be accretive to net income on an EBITDA basis (earnings before interest, tax, depreciation and amortization) for the fiscal year ending January 31, 2009.
Revenue amounted to $9.6 million compared to $7.4 million in Q1 last year, representing 31% growth.
Gross margin amounted to $6.7 million in Q1, representing 69% of revenue, compared to $4.8 million and 66% in Q1 last year.
Trintech increased expenditure in research and development by 17% from $1.3 million in Q1 last year to $1.5 million in the same quarter in the 2009 fiscal year.
Trintech increased expenditure in sales and marketing by 22% from $2.5 million in Q1 in the 2008 fiscal year to $3.1 million in the same quarter in the 2009 fiscal year.
General and administrative expenses increased by 6% in Q1 of the 2009 fiscal year compared to Q1 of the 2008 fiscal year to $2.5 million compared to $2.3 million in the prior fiscal year.
On a consolidated basis, Trintech generated an Adjusted EBITDA net income of $405,000 for Q1 of the 2009 fiscal year compared to an Adjusted EBITDA net loss of $548,000 for the corresponding period in the prior year.
Combined basic and diluted net loss per equivalent ADS for the quarter ended April 30, 2008 was $0.03, compared with a basic and diluted net loss per equivalent ADS of $0.09 for the quarter ended April 30, 2007.

Cyril McGuire, Chairman & Chief Executive Officer said, “Trintech’s Q1 performance was solid with good underlying revenue growth of 31% and Adjusted EBITDA net income of $405,000 which meets our market guidance. We continue to drive our operating plan of revenue growth and EBITDA profitability with a strong focus on our operating cost efficiency given the challenges of the economic environment. Recurring revenue including SaaS fees continues to be a major focus of our business model and accounted for over 60% of our revenues in Q1. Our continued investment in new products and the integration of the recently acquired Movaris business is expected to provide us with strong opportunities to cross-sell to our existing 570 customers as well as develop new competitive market positions.”

Paul Byrne, President, added, “In continuing to deliver EBITDA profit growth, we are starting to achieve the return on the increased investment in sales and marketing programs we initiated last year as well as drive synergies, in revenue and cost terms, from our two most recent acquisitions, Movaris and Concuity. We believe that with the broader product portfolio we now have, addressing the growing and expanding financial governance challenges faced by our customers, we will drive revenue and EBITDA growth, both through providing a broader range of financial governance solutions to new customers and increasing our penetration for acquired products in our existing 500+ customer base”.

Recent Highlights include:

Trintech announced the signing of a definitive agreement to acquire Movaris, Inc., a venture-backed company located in San Jose, California. The acquisition closed on February 14, 2008. Movaris has pioneered the creation of solutions that integrate and manage the financial close and other governance, risk and compliance processes. The Movaris solution encompasses SOX Compliance, Financial Close, Account Reconciliation, GRC (Governance, Risk and Compliance) and Enterprise Risk Manager Applications. At the time of the acquisition, Movaris had over 80 enterprise customers that span a broad range of industries. The consideration for the acquisition was satisfied through the payment of $7.1 million in cash and the issuance of 507,750 Trintech American Depositary Shares (ADSs), plus a potential contingent payment to be paid in early 2010 based on the trading price of our ADSs prior to such date.

Trintech announced that Stella Travel Services had selected Trintech’s ReconNET to automate a wide range of reconciliation and revenue assurance processes, within their Travelbag and Travel2 airline ticket sales operations. The implementation of ReconNET will enable the company to validate daily flight ticket sales and manage exceptions between their internal systems, external Global Delivery Systems (GDS), Amadeus, Galileo, and IATA’s Billing and Settlement Plan (BSP). Stella Travel Services is a division of the Stella Group, the largest integrated travel company in Australia and New Zealand with over 15,000 rooms under management and over 1,400 retail and corporate travel outlets worldwide. In mid 2007, Stella Travel Services acquired United Kingdom-based Travelbag, a leading mid- and long-haul travel specialist.

Trintech announced that The Republic Group had selected ReconNET for depository and disbursement reconciliation, AssureNET GL for general ledger reconciliation, review, and certification, and TRACKER for escheatment reporting. The Republic Group, through independent agents primarily in Texas, Oklahoma, Louisiana, Mississippi and New Mexico, provides personal property, dwelling fire, personal automobile and commercial insurance through four business segments: personal lines, commercial lines, program management, and insurance services.

Trintech announced that the United States’ premier emergency response organization, the American Red Cross, had selected ReconNET to automate the reconciliation of their disbursement accounts and AssureNET GL to automate and control general ledger account reconciliation processes and closing tasks and activities. Through over 700 locally supported chapters and a global network of 186 national societies the American Red Cross offers neutral humanitarian care to victims of war and those of devastating natural disasters.

Trintech announced that David Lloyd Leisure had selected Trintech’s ReconNET product to automate the verification and reconciliation of its cash and credit cards. ReconNET will enable the company to increase reporting and financial controls and improve daily productivity. David Lloyd Leisure Clubs are part of the David Lloyd Leisure Group, Europe’s largest health and fitness operator, with 79 clubs in the UK and a further 10 sites across Europe. Facilities include indoor and outdoor tennis courts, swimming pools, state of the art gym equipment, health & beauty spas, club lounges, cr�ches, nurseries, and specialist sports shops.

Trintech announced that HealthEast Care System had selected ClearContracts™ to enhance contract negotiation capabilities and improve the recovery of underpaid claims. HealthEast Care System operates a number of hospitals and other health care facilities throughout the St. Paul, Minnesota metro area, including three general acute care facilities - St. John’s Hospital, St. Joseph’s Hospital, and Woodwinds Health Campus. A fourth hospital, Bethesda Hospital, provides inpatient rehabilitative care. HealthEast Care System also features a number of primary care and specialty clinics located throughout its service area.

Trintech announced the availability of ClearContracts 8.0. The latest version of Concuity’s ClearContracts solution enables users to more efficiently manage institutional and professional claim reimbursement activities and maximize reimbursement for bundled claims as well as ambulatory payment/outpatient visits.

Trintech announced enhancements to its AssureNET GL accounting compliance application for general ledger reconciliation, review and certification. AssureNET GL 4.0 delivers a new level of product usability. AssureNET GL 4.0 enhancements include the addition of an operational dashboard with comprehensive drill down capabilities, design modifications that enhance the user experience, context-based help files, support for SQL 2005, and enhanced integration with other Trintech products. AssureNET GL 4.0 demonstrates Trintech’s commitment to providing functionally rich, flexible, user-friendly solutions that are critical to gaining end-user adoption.

Trintech announced it had attained Gold Certified Partner status in the Microsoft Partner Program with a competency in ISV/Software Solutions. As a Gold Certified Partner, Trintech has demonstrated expertise with Microsoft technologies and proven ability to meet customers’ needs. Microsoft Gold Certified Partners receive a rich set of benefits from Microsoft, including access, training and support.

Results Overview:

Continuing Operations:

Revenue for the first quarter was $9.6 million compared with $7.4 million for the corresponding quarter last year, an increase of 31%.

Software license revenue for the quarter ended April 30, 2008 was $4.9 million compared with $3.5 million for the corresponding quarter in the prior year, an increase of 40%. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.

Service revenue for the first quarter increased 22% to $4.7 million from $3.9 million for the corresponding quarter in the prior year. The increase was primarily due to an increase in EMEA revenues and new revenues generated from the Movaris business.

Total gross margin for the first quarter was $6.7 million, an increase of 38% from $4.8 million in the corresponding quarter in the prior year.

Total operating expenses for the first quarter were $7.5 million, an increase of 14% from $6.5 million in the corresponding quarter in the prior year. Adjusted EBITDA operating expenses for the quarter ended April 30, 2008 were $6.6 million, an increase of 15% on the Adjusted EBITDA operating expenses for the corresponding period in the prior year. The increase in operating expenses and Adjusted EBITDA operating expenses was primarily due to the inclusion of costs relating to the newly acquired Movaris business.

Consolidated Adjusted EBITDA net income was $405,000 for the first quarter compared to an Adjusted EBITDA net loss of $548,000 for the corresponding quarter in the prior year.

Trintech’s balance sheet remains strong with net cash and cash equivalent balances of $16.5 million as of April 30, 2008. Net cash utilized for the three months ended April 30, 2008 was $7.3 million, which included cash generated from operations of $1.0 million and payments related to acquisitions of $8.3 million. Included in acquisition payments is a $7.1 million purchase consideration payment to the ex-owners of Movaris and a $1.0 million earn-out payment to the ex-owners of the Assurity business that Trintech acquired in February 2006.

During the quarter ended April 30, 2008, Trintech did not purchase any shares via the share buy-back program. As a result, $2.9 million remains available for future repurchases under this program as at April 30, 2008.

Trintech will host a conference call to discuss its financial results and business outlook beginning at 15:30hrs (UK Time) today, Wednesday, May 21, 2008. Please see advisory for information on the call.

A web simulcast of Trintech’s conference call reviewing our performance for Q1 fiscal year 2009 and our business outlook for Q2 and full fiscal year 2009 will be broadcast live today, Wednesday, May 21, 2008 at 15:30 hrs (UK Time), 10:30 hrs (NY Time) and 07:30 hrs (CA Time) and thereafter for 1 year at www.trintech.com/investor. An instant telephone replay will also be available for 10 days by dialing +44 1452 55 00 00 and entering the following access number (4 6 4 3 9 1 6 4 #).

Please click here to read the press release in its entirety.

Trintech Attains Gold Certified Partner Status in Microsoft Partner Program

admin — Mon, 19 May 2008 07:00:57 +0000

Trintech Further Distinguishes Itself by Earning a Microsoft Competency in ISV/Software Solutions

Dallas, TX / Dublin, Ireland - 19 May 2008 - Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced it has attained Gold Certified Partner status in the Microsoft Partner Program with a competency in ISV/Software Solutions, recognizing Trintech’s expertise and impact in the technology marketplace. As a Gold Certified Partner, Trintech has demonstrated expertise with Microsoft technologies and proven ability to meet customers’ needs. Microsoft Gold Certified Partners receive a rich set of benefits, including access, training and support, giving them a competitive advantage in the channel.

Trintech enables companies worldwide to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle. Over 600 leading global organizations are realizing the benefits of Trintech’s solutions everyday to gain greater control, visibility, and efficiency across financial processes; improve financial performance through stronger management of revenue and cost cycles; ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements; and drive immediate efficiencies and cost reductions in financial operations through automation and scalability.

“We’re extremely pleased to have attained Gold Certified Partner status in the Microsoft Partner Program. This represents the highest level of competence with Microsoft technologies and our commitment to provide the best level of service, support, and technical expertise to our customers,” said John Harte, EVP and General Manager for Trintech. “Our partnership with Microsoft will continue to maximize our ability to service and support customers with state-of-the-art financial governance solutions globally.”

“Customers are looking for partner companies that can bridge the gap between their business demands and technology capabilities,” said Allison Watson, corporate vice president of the Worldwide Partner Sales and Marketing Group at Microsoft Corp. “They need to trust in a company that can act as an expert adviser for their long-term strategic technology plans. Microsoft Gold Certified Partners, which have certified expertise and direct training and support from Microsoft, can build a positive customer experience with our technologies. Today, Microsoft recognizes Trintech as a new Gold Certified Partner for demonstrating its expertise providing customer satisfaction using Microsoft products and technology.”

As one of the requirements for attaining Gold Certified Partner status, Trintech had to declare a Microsoft Competency. Microsoft Competencies are designed to help differentiate a partner’s capabilities with specific Microsoft technologies to customers looking for a particular type of solution. Each competency has a unique set of requirements and benefits, formulated to accurately represent the specific skills and services that partners bring to the technology industry.

The ISV/Software Solutions Competency recognizes the skill and focus partners bring to a particular solution set. Microsoft Gold Certified Partners that have obtained this competency have a successful record of developing and marketing packed software based on Microsoft technologies.

“Solutions competencies are an important way for Microsoft to better enable ISVs to meet customer needs,” said Walid Abu-Hadba, Corporate Vice President of the Developer & Platform Evangelism Group at Microsoft. “They allow ISVs to keep and win customers through their deep knowledge of solutions-based Microsoft platform technologies. Microsoft has a long history of working closely with ISV partners to help them deliver compelling solutions and applications to our mutual customers, and the Microsoft Competencies are an important step in continuing to enhance vital relationships with ISVs worldwide.”

The Microsoft Partner Program was launched in October 2003 and represents Microsoft’s ongoing commitment to the success of partners worldwide. The program offers a single, integrated partnering framework that recognizes partner expertise, rewards the total impact that partners have in the technology marketplace, and delivers more value to help partners’ businesses be successful.

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Trintech Announces New Version of AssureNET GL for General Ledger Reconciliation, Review, and Certification

admin — Mon, 12 May 2008 07:00:09 +0000

AssureNET GL 4.0 to Enhance User Experience with Operational Dashboard, Mitigate Risk, and Strengthen Internal Controls to Support Compliance

Dallas, TX / Dublin, Ireland - 12 May 2008 - Trintech Group Plc (NASDAQ: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced enhancements to its AssureNET GL accounting compliance application for general ledger reconciliation, review and certification.

AssureNET GL 4.0 delivers a new level of product usability. AssureNET GL 4.0 enhancements include the addition of an operational dashboard with comprehensive drill down capabilities, design modifications that enhance the user experience, context-based help files, support for SQL 2005, and enhanced integration with other Trintech products. AssureNET GL 4.0 demonstrates Trintech’s commitment to providing functionally rich, flexible, user-friendly solutions that are critical to gaining end-user adoption.

AssureNET GL is used by some of the world’s most well known companies, including Accenture, ConAgra, Rohm and Haas, Brady Corporation, JohnsonDiversey, and AMC Theatres to streamline business workflow while enforcing an internal control structure. AssureNET GL can reduce the cost and effort involved in compliance administration, reduce audit fees, and help companies proactively identify current and potential compliance issues.

“Customers demand improved insight into transaction processes, easier access to data, and more timely results,” said John Harte, EVP and General Manager for Trintech. “With the release of AssureNET GL 4.0, we provide an even easier to use, secure, account reconciliation solution that drives operational efficiency on a single platform.”

About Trintech Group

Trintech Press Contact:

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com

Concuity’s New Release of ClearContracts 8.0 to Improve Staff Efficiency and Increase Revenue Recovery

admin — Tue, 06 May 2008 07:00:07 +0000

Vernon Hills, Illinois/Dublin, Ireland - 06 May 2008 - Concuity, a healthcare division of Trintech (NASDAQ: TTPA) and a leading provider of contract management and revenue recovery technology (”Peer Reviewed by HFMA”) and services, today announced the availability of ClearContracts 8.0. The latest version of Concuity’s ClearContracts solution enables users to more efficiently manage institutional and professional claim reimbursement activities and maximize reimbursement for bundled claims as well as ambulatory payment/outpatient visits.

The Professional Calculation Engine of ClearContracts 8.0 has been enhanced to provide clients with a consolidated view of facility and professional claims. Users can easily determine expected payment and recover underpayments for institutional and professional accounts from the same user interface. With the addition of institutional bundling, ClearContracts 8.0 clients can manage code bundling in a number of ways. This new calculation method is designed specifically for institutional claims and can allow a hospital to compare one or more sets of codes (e.g. CPT 4, Revenue Codes) according to the hospitals contract specific, reimbursement formulas. What’s more, the reimbursements can be based on either the flat amounts for the entire bundle of codes or as a percentage of a codes fee schedule rate. Additionally, the user can further customize the bundling output conditions to refine the expected payment amount. Institutional bundling will help Concuity clients attain the maximum reimbursement for a prepared bill. ClearContracts 8.0 also includes enhancements to reconciliation reporting. Users can generate reports that reconcile patient account and financial data sent to data processed.

To address 2008 regulatory requirements, ClearContracts 8.0 includes enhancements to Ambulatory Payment Classification (APC) functionality. In addition to standard APC reimbursement, hospital clients can now view and calculate expected reimbursement for all new “Q” Code requirements for APC reimbursement.

“We have a consistent track record of delivering the most robust revenue reimbursement technology in our industry. We want our clients to have the ability to process their entire universe of claims efficiently and cost-effectively,” said Ed Gallo, EVP for Concuity. “ClearContracts 8.0 provides superior functionality on a SAAS platform, enabling healthcare providers to increase the success of revenue recovery for underpaid and/or denied claims while making the process more efficient and cost effective.”

About Concuity

About Trintech Group

Trintech Press Contact

Dallas: Donna Martinez, Marketing Communications Manager, Trintech
Tel. +1 972 739 1611. email:donna.martinez@trintech.com