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Revenues for the fourth quarter ended 31 January 2001 were USD15.5 million compared with USD9 million the previous year's quarter, up 72 percent. And revenues for the fiscal year ended 31 January were USD49 million, up 62 percent over the 2000 figure of USD30.2 million.
But Trintech also saw losses triple both in the quarter and during the year, due in part to significant expansions in marketing and R&D expenditure. For the quarter ended 31 January, sales and marketing expenditure grew 82 percent to USD5 million, and research & development spending grew by a massive 121 percent to USD6.5 million over the corresponding quarter last year.
The net loss in the quarter was USD15.16 million (USD.26 per American Depositary Share), up more than threefold over the previous year's quarter. Net loss for the year was USD32.57 million, or USD.59 per ADS.
The company insists however that it still has "substantial cash reserves"; this is partly thanks to the fact that the company made the bulk of its acquisitions in stock rather than cash during the quarter.
During the quarter Trintech completed three important acquisitions to expand its range of infrastructural products for e-commerce. In November Trintech paid USD10.7 million in cash and stock for Sursoft, a privately held Latin American card management software company, and in the same month paid USD26 million in stock for Exceptis Technologies, which provides technology connected with credit card dispute resolution and risk management.
In December Trintech also paid USD31 million in stock for Globeset, a Texas-based supplier of secure e-payments infrastructure services and products. The three acquisitions join UK-based Checkline, another security firm which Trintech purchased in August for USD44 million.
Trintech's share price has continued to take a hammering, however: it closed at USD5.75 on Monday, down from a 52-week high of more than USD75.
On a promising note for Trintech, its software licensing revenues were up in the quarter and the year thanks to increased demand for its e-commerce infrastructure products. Fourth quarter license revenue was USD6.2 million, up 80 percent, bringing the licensing revenue for the year to USD20.6 million.
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