DUBLIN, Ireland, July 23, 2010 (GLOBE NEWSWIRE) -- Trintech Group Plc (Nasdaq:TTPA), a leading provider of integrated financial governance, risk management and compliance (GRC) software solutions, held its 11th Annual General Meeting (AGM) yesterday 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 and said, "Following a solid performance in FY10, current revenue is in line with market expectations and Trintech is on track to achieve strong revenue and net income growth in the current fiscal year. The company is well positioned with over 60% recurring revenues, good operating cash generation and a strong balance sheet with $48 million cash with no debt or borrowings, to capitalize on growing market opportunities for Financial GRC as the global economy continues its recovery."
The full text of the Chairman's statement can be found on the Trintech website.
About Trintech Group
Trintech Group Plc (Nasdaq:TTPA) is a leading global provider of integrated financial governance, risk management, and compliance (GRC) software solutions for commercial, financial, and healthcare markets. Trintech's recognized expertise in reconciliation process management, financial data aggregation, financial close and reporting, risk management, and compliance enables customers to gain greater visibility and control of their critical financial processes leading to better overall business performance.
For more information on how Trintech can help you increase confidence in business performance and reduce financial risk, please contact us online at http://www.trintech.com/">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 business momentum in our continuing operations, our business outlook and our position for revenue and earnings growth, the expansion of the Financial GRC market, the needs of corporate organizations to improve financial transparency and efficiency and the impact of the evolution of and growth in corporate and financial regulation and demand for greater visibility of risk and compliance by company boards on the demand for our financial GRC platform. Factors that could cause or contribute to such differences include Trintech's ability to capitalize on growing market opportunities for financial GRC as the global economy continues to recover. 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, 2010 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.