Dublin-based Trintech Group has announced it expects pro forma net loss for the fourth quarter will be around $2 million to $3 million.
Pro forma net loss excludes restructuring charges and non-cash items such as stock-compensation charges.
The company, which provides secure online payment software, also announced it expects revenues for the fourth quarter to be less than its prior guidance of $17 million to $19 million.
Trintech said in a statement that owing to a worsening of market conditions, the company now expects that fourth-quarter revenues will be about $15 million to $16 million.
In line with many software companies, the company experienced a continued downturn in fourth-quarter licence revenues.
"Decisive management action to reduce our cost base has led us to achieve approximately $20 million in annualised savings in operating expenses between Q4 last year and Q4 this year," Trintech chief executive Mr John McGuire said.
"This focus has enabled us to compensate for continued difficult market conditions. We continue to believe that Trintech stands on a solid financial foundation and we continue to take the appropriate action to ensure that Trintech is well positioned to take advantage of a market recovery".
Full fourth-quarter results will be announced and discussed by the company on February 27th.