DUBLIN, Ireland, July 22, 2005 (PRIMEZONE) -- Trintech Group Plc (Nasdaq:TTPA), a leading provider of transaction reconciliation and payment infrastructure solutions, today held its 6th Annual General Meeting (AGM) as a public company in Dublin, Ireland.
At the AGM, Cyril McGuire, Co-founder, 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 Deutsche Bank AG. The timing and amount of any repurchase by Trintech under the share buy-back programme will be dependent upon market conditions, securities law limitations and other corporate considerations. The buy-back programme may be suspended or terminated by Trintech at any time.
Mr. McGuire said, "Our financial performance for fiscal 2005 was solid with strong revenue growth of 30% to $56 million and growth in profits of $2 million. The key performance indicators of revenue growth, improved margins, controlled operating costs and earnings were all achieved, as were the key balance sheet metrics of low DSOs and cash generation. Overall, I am very pleased with our performance in what is still a challenging IT marketplace."
About Trintech
Trintech is a leading provider of transaction reconciliation and payment infrastructure solutions to retailers, financial institutions, payment processors and network operators globally. Built on 18 years of experience, Trintech's solutions manage each area of the payment transaction cycle from authentication, authorization, settlement, dispute resolution and reconciliation - enabling its customers to reduce transaction costs, eliminate fraud, minimize risk, maximize cashflow and increase profitability. Trintech can be contacted in Ireland at Trintech Building, South County Business Park, Leopardstown, Dublin 18 (Tel: +353 1 2074000), in the US at 15851 Dallas Parkway, Suite 855, Addison, TX 75001 (Tel: +1 972 701 9802), and in the UK at 186-192 Darkes Lane, Potters Bar, Hertfordshire, EN6 1AF (Tel: +44 (0) 1707 827000). www.trintech.com.
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