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 income on an EBITDA basis (earnings before interest, tax, depreciation and amortization) for the fiscal year ending January 31, 2009.
• Revenue amounted to $8.9 million compared to $7.5 million in Q4 last year, representing 19% growth.
• Revenue grew 28% for the 2008 fiscal year to $32.9 million compared to $25.8 million in the prior year.
• Gross margin amounted to $6.4 million in Q4, representing 71% of revenue, compared to $5.3 million and 71% in Q4 last year.
• Gross margin amounted to $22.2 million in the 2008 fiscal year, representing 67% of revenue, compared to $19.1 million and 74% in the prior year. The fall in gross margin percentage was primarily due to the inclusion of the healthcare business acquired in Q4 of fiscal 2007, which historically has had lower margins than our FMS business, and an increased amortization charge which was also related to the purchase of the healthcare business.
• Trintech reduced expenditure in research and development by 17% from $1.5 million in Q4 last year to $1.2 million in the same quarter in the 2008 fiscal year and by 1% in the 2008 fiscal year to $4.9 million compared to $4.95 million in the prior fiscal year. The decrease in expenditure in Q4 was primarily due to reduced staffing costs.
• Trintech increased expenditure in sales and marketing by 60% from $1.7 million in Q4 in the 2007 fiscal year to $2.7 million in the same quarter in the 2008 fiscal year and by 51% for the 2008 fiscal year to $10.7 million compared to $7.1 million in the prior fiscal year. The increase was primarily due to an increase in costs relating to the FMS business due to increased headcount, higher commissions, additional marketing expenses and the impact of the weakening dollar against the pound compared to the prior year. The increase was also partially due to an additional month of healthcare costs in Q4 of the 2008 fiscal year compared to the prior year quarter and an additional ten months of healthcare costs in the 2008 fiscal year.
• General and administrative expenses increased marginally by 1% in Q4 of the 2008 fiscal year compared to Q4 of the 2007 fiscal year and by 17% for the 2008 fiscal year to $9.8 million compared to $8.4 million in the prior fiscal year. The increase in year on year expenditure was due to the impact of the weakening dollar against the euro, the inclusion of additional costs relating to the healthcare business in the current year, and higher legal and professional costs.
• On a consolidated basis, Trintech generated an Adjusted EBITDA income of $595,000 for Q4 2008 compared to an Adjusted EBITDA income of $65,000 for the corresponding period in the prior year.
• On a consolidated basis, Trintech incurred an Adjusted EBITDA loss of $327,000 for the 2008 fiscal year compared to an Adjusted EBITDA loss of $2.9 million for the prior fiscal year.
• Combined basic and diluted net loss per equivalent ADS for the quarter ended January 31, 2008 was $0.04, compared with a basic and diluted net income per equivalent ADS of $0.01 for the quarter ended January 31, 2007.
• Combined basic and diluted net loss per equivalent ADS for the year ended January 31, 2008 was $0.27, compared with a basic and diluted net loss per equivalent ADS of $0.14 for the year ended January 31, 2007.
• Following the sale of its payments systems business to VeriFone Holdings Inc. in the third quarter of fiscal year 2007, Trintech is required to present its financial results on a continuing and discontinued operations basis.

Cyril McGuire, Chairman & Chief Executive Officer said, "Trintech's quarter and year end performance was solid with good underlying growth and EBITDA earnings being achieved in Q4. As part of our growth strategy for fiscal year 2009, we intend to continue to invest in new innovative software products for our global customer base and expand our market reach into new markets to position Trintech for strong EBITDA earnings growth. Following our recent acquisition of Movaris, Inc., we have a strong strategic and competitive position in the growing market for financial governance, risk and compliance solutions targeted at the office of the CFO."

Paul Byrne, President, added, "In returning to EBITDA profitability in Q4, we have started to achieve a return on the increased investment in sales and marketing programs we initiated last year. We believe that these investment programs, combined with the Movaris acquisition, will enable us to continue to drive revenue growth in the current fiscal year and consequently to grow EBITDA profitability also. The acquisition of Movaris broadens our product suite for financial governance solutions and gives us the opportunity to cross-sell the acquired products to our existing 500+ customers as well as create significant additional opportunities for new business growth."

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. Movaris has over 80 enterprise customers that span a broad range of industries. The consideration for the acquisition will be satisfied through the payment of $5 million in cash and the issuing of 1.25 million Trintech American Depositary Shares (ADSs), or at the option of Movaris shareholders the cash equivalent value of such ADSs, plus a potential contingent payment in early 2010 based on the trading price of our ADSs prior to such date.

Trintech announced that Edward Hospital of Naperville, Illinois selected ClearContracts to improve the management of payment variances, denials, and revenue recovery and EOB Pro to retrieve, consolidate, and standardize electronic remittances from multiple payers into 835s. Founded in 1907, Edward Hospital & Health Services is a full-service, regional healthcare provider offering access to complex medical specialties and innovative programming in the west and southwest suburbs of Chicago.

Trintech announced the availability of I-TRACS 5.5, the latest version of its tracking, research, adjustment and collection application. This release extends existing capabilities to improve collection item processing, increase efficiency and enhance security.

Trintech announced that it had attained Certified Partner status in the Microsoft Partner Program with a competency in ISV/Software Solutions. As a Certified Partner, Trintech has demonstrated expertise with Microsoft technologies and proven ability to meet customers' needs. Microsoft Certified Partners receive a rich set of benefits, including access, training, and support - giving them a competitive advantage in the channel.

Concuity, a healthcare division of Trintech, announced the availability of ClearContracts 7.2. The latest version of Concuity's ClearContracts solution dramatically increases calculation engine modeling capabilities and system usability.

Results Overview:

Continuing Operations:

Revenue for the year ended January 31, 2008 was $32.9 million compared with $25.8 million for the year ended January 31, 2007, an increase of 28%. Revenue for the fourth quarter was $8.9 million compared with $7.5 million for the corresponding quarter in the prior year, an increase of 19%.

Software license revenue for the year ended January 31, 2008 was $16.6 million compared with $14.4 million for the year ended January 31, 2007, an increase of 16%. The increase was due to higher revenues from our products in the US and Europe, Middle East and Africa ("EMEA") markets and increased revenues generated from maintenance renewals from our existing customers.

Software license revenue for the fourth quarter was $4.9 million compared with $3.8 million for the corresponding quarter in the prior year, an increase of 27%. The increase was due to higher revenues from our products in the US and EMEA markets and increased revenues generated from maintenance renewals from our existing customers.

Service revenue for the year ended January 31, 2008 increased 43% to $16.3 million from $11.4 million for the year ended January 31, 2007, which was primarily due to revenues related to the healthcare business and to a lesser degree, increased revenues from FMS customers in our EMEA region. Service revenue for the fourth quarter increased 11% to $4.0 million from $3.7 million for the corresponding quarter in the prior year, which was primarily due to revenues related to the healthcare business.

Total gross margin for the year ended January 31, 2008 was $22.2 million, an increase of 17% from $19.1 million for the year ended January 31, 2007. Total gross margin for the fourth quarter was $6.4 million, an increase of 20% from $5.3 million in the corresponding quarter in the prior year.

Total operating expenses for the year ended January 31, 2008 were $27.0 million, an increase of 26% from $21.4 million in the previous year. Total operating expenses for the fourth quarter were $6.9 million, an increase of 14% from $6.0 million in the corresponding quarter in the prior year.

Adjusted EBITDA operating expenses from continuing operations for the year ended January 31, 2008 were $23.8 million, an increase of 24% on the Adjusted EBITDA operating expenses from continuing operations for the previous year. Adjusted EBITDA operating expenses from continuing operations for the quarter ended January 31, 2008 were $6.0 million, an increase of 13% on the Adjusted EBITDA operating expenses from continuing operations for the corresponding period in the prior year. The increase in operating expenses and Adjusted EBITDA operating expenses was primarily due to additional sales and marketing costs relating to the FMS business and additional costs included for the healthcare business in the fourth quarter 2008 and full 2008 fiscal year.

Consolidated Adjusted EBITDA net loss was $327,000 for the year ended January 31, 2008 compared to an adjusted EBITDA net loss of $2.9 million from the previous year. Consolidated Adjusted EBITDA net income was $595,000 for the fourth quarter compared to an adjusted EBITDA net income of $65,000 for the corresponding quarter in the prior year.

Trintech's balance sheet remains strong with net cash and cash equivalent balances of $23.8 million as of January 31, 2008. Net cash utilized was $2 million for the year ended January 31, 2008.

During the quarter ended January 31, 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 January 31, 2008.

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