Trintech, the Nasdaq-quoted Irish financial and healthcare software company, recorded a net loss in the third quarter of $1.2 million (€808,000), compared to a profit of $1.76 million in the same period last year.

The company, whose principal offices are now in Dallas, recorded revenues of $7.7 million in the three months to the end of October, up 15 per cent on the $6.7 million in the same period last year.

Gross margin fell from 75 per cent to 64 per cent and the company said this was primarily due to the inclusion of Concuity, the US healthcare business it acquired last year.

Chief executive Cyril McGuire said the company was still on track to return to Ebitda profitability by the end of the current fiscal year, "despite a challenging and competitive marketplace".

Trintech's spend on research and development fell slightly year on year to $1.2 million, primarily due to a reduction in staff costs. Expenditure on sales and marketing grew to $2.5 million from $2 million in the year ago period.