The British RG 31 vehicles are to compete with German-made Dingos.

Both the ministry and BAE Systems did not give clear information on the possible offer for several months, LN writes.

"I can neither confirm nor deny that the offer has been received," the paper quotes the ministry's spokesman Andrej Cirtek as saying in September.

BAE Systems Czech representative Ales Novotny said the British company would not comment on the case.

But BAE Systems approached the military in late July, LN writes, quoting to a letter from its vice-president Steve Mead to Czech Defence Minister Vlasta Parkanova (Christian Democrats, KDU-CSL).

Mead asks Parkanova to reconsider the offer of RG 31s and says BAE Systems is prepared to launch talks with representatives of the Czech ministry immediately.

The military admitted that BAE Systems made the offer last week, the paper writes.

Cirtek told LN that the ministry received a letter including an information about a possible offer of RG 31s, but this letter was not official offer because BAE is not authorised to sell arms to the Czech Republic.

Lower house defence committee head Jan Vidim (Civic Democrats, ODS) said the ministry did not consult the police even though it should have done it.

"Unlawful action evidently took place," Vidim said.

He added that he would ask Parkanova or her deputy for armament Jaroslav Kopriva about it.

The Czech military now has four Dingos that are used by Czech troops in the Afghan province Logar. It has recently decided on the purchase of 15 Dingo 2 vehicles and 15 smaller Iveco MLV APCs worth almost one billion crowns.

Source: CTK news agency, Prague, in English 1035 gmt 4 Dec 08

BBC Mon EU1 EuroPol 041208 yk

* * * * *

We are issuing this AD to require actions to correct the unsafe condition on these products.

EFFECTIVE DATE: This AD becomes effective December 26, 2008.

The Director of the Federal Register approved the incorporation by reference of a certain publication listed in this AD as of December 26, 2008.

ADDRESSES: You may examine the AD docket on the Internet at http://www.regulations.gov or in person at the U.S. Department of Transportation, Docket Operations, M-30, West Building Ground Floor, Room W12-140, 1200 New Jersey Avenue, SE., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Todd Thompson, Aerospace Engineer, International Branch, ANM-116, Transport Airplane Directorate, FAA, 1601 Lind Avenue, SW., Renton, Washington 98057-3356; telephone (425) 227-1175; fax (425) 227-1149.

SUPPLEMENTARY INFORMATION: We issued a notice of proposed rulemaking (NPRM) to amend 14 CFR part 39 to include an AD that would apply to the specified products. That NPRM was published in the Federal Register on August 21, 2008 (73 FR 49364). That NPRM proposed to correct an unsafe condition for the specified products. The MCAI states:

During inspection of undercarriage main beam sidestays, bolts attaching the undercarriage main beam sidestay to frame 29 were found with the heads of the bolts sheared off. Loose bolt assemblies were also found.

If sheared or loose bolts are not detected and replaced, a possible consequence is the collapse of the main landing gear.

For the reasons described above, this Airworthiness Directive (AD) requires a one-time [rotating eddy current] inspection of the bolt bores and bore dimensions and the installation of replacement bolts, as necessary.

Corrective actions include contacting BAE Systems (Operations) Limited for repair instructions and repair, if necessary. You may obtain further information by examining the MCAI in the AD docket.

Comments

We gave the public the opportunity to participate in developing this AD. We received no comments on the NPRM or on the determination of the cost to the public.

Conclusion

We reviewed the available data and determined that air safety and the public interest require adopting the AD as proposed.

Differences Between This AD and the MCAI or Service Information

We have reviewed the MCAI and related service information and, in general, agree with their substance. But we might have found it necessary to use different words from those in the MCAI to ensure the AD is clear for U.S. operators and is enforceable. In making these changes, we do not intend to differ substantively from the information provided in the MCAI and related service information.

We might also have required different actions in this AD from those in the MCAI in order to follow our FAA policies. Any such differences are highlighted in a NOTE within the AD.

Costs of Compliance

We estimate that this AD will affect about 1 product of U.S. registry. We also estimate that it will take about 24 work-hours per product to comply with the basic requirements of this AD. The average labor rate is $80 per work-hour. Required parts will cost about $1,000 per product. Where the service information lists required parts costs that are covered under warranty, we have assumed that there will be no charge for these parts. As we do not control warranty coverage for affected parties, some parties may incur costs higher than estimated here. Based on these figures, we estimate the cost of this AD to the U.S. operators to be $2,920, or $2,920 per product.

Authority for This Rulemaking

Title 49 of the United States Code specifies the FAA's authority to issue rules on aviation safety. Subtitle I, section 106, describes the authority of the FAA Administrator. "Subtitle VII: Aviation Programs," describes in more detail the scope of the Agency's authority.

We are issuing this rulemaking under the authority described in "Subtitle VII, Part A, Subpart III, Section 44701: General requirements." Under that section, Congress charges the FAA with promoting safe flight of civil aircraft in air commerce by prescribing regulations for practices, methods, and procedures the Administrator finds necessary for safety in air commerce. This regulation is within the scope of that authority because it addresses an unsafe condition that is likely to exist or develop on products identified in this rulemaking action.

Regulatory Findings

We determined that this AD will not have federalism implications under Executive Order 13132. This AD will not have a substantial direct effect on the States, on the relationship between the national government and the States, or on the distribution of power and responsibilities among the various levels of government.

For the reasons discussed above, I certify this AD:

1. Is not a "significant regulatory action" under Executive Order 12866;

2. Is not a "significant rule" under the DOT Regulatory Policies and Procedures (44 FR 11034, February 26, 1979); and

3. Will not have a significant economic impact, positive or negative, on a substantial number of small entities under the criteria of the Regulatory Flexibility Act.

We prepared a regulatory evaluation of the estimated costs to comply with this AD and placed it in the AD docket.

Examining the AD Docket

You may examine the AD docket on the Internet at http://www.regulations.gov; or in person at the Docket Operations office between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains the NPRM, the regulatory evaluation, any comments received, and other information. The street address for the Docket Operations office (telephone (800) 647-5527) is in the ADDRESSES section. Comments will be available in the AD docket shortly after receipt.

List of Subjects in 14 CFR Part 39

Air transportation, Aircraft, Aviation safety, Incorporation by reference, Safety.

Adoption of the Amendment

Accordingly, under the authority delegated to me by the Administrator, the FAA amends 14 CFR part 39 as follows:

PART 39--AIRWORTHINESS DIRECTIVES

1. The authority citation for part 39 continues to read as follows:

Authority: 49 U.S.C. 106(g), 40113, 44701.

SEC 39.13 [Amended]

2. The FAA amends SEC 39.13 by adding the following new AD:

2008-23-14 BAE Systems (Operations) Limited (Formerly British Aerospace Regional Aircraft): Amendment 39-15735. Docket No. FAA-2008-0887; Directorate Identifier 2007-NM-336-AD.

Effective Date

(a) This airworthiness directive (AD) becomes effective December 26, 2008.

Affected ADs

(b) None.

Applicability

(c) This AD applies to all BAE Systems (Operations) Limited Model BAe 146-100A, -200A, and -300A series airplanes; and Model Avro 146-RJ70A, 146-RJ85A, and 146-RJ100A airplanes; certificated in any category.

Subject

(d) Air Transport Association (ATA) of America Code 53: Fuselage.

Reason

(e) The mandatory continuing airworthiness information (MCAI) states:

During inspection of undercarriage main beam sidestays, bolts attaching the undercarriage main beam sidestay to frame 29 were found with the heads of the bolts sheared off. Loose bolt assemblies were also found.

If sheared or loose bolts are not detected and replaced, a possible consequence is the collapse of the main landing gear.

For the reasons described above, this Airworthiness Directive (AD) requires a one-time [rotating eddy current] inspection of the bolt bores and bore dimensions and the installation of replacement bolts, as necessary.

Corrective actions include contacting BAE Systems (Operations) Limited for repair instructions and repair, if necessary.

Actions and Compliance

(f) Unless already done, do the following actions.

(1) Within 4,000 flight cycles or 5 years, whichever occurs first after the effective date of this AD, perform the inspections to detect defects (including sheared or loose bolts) and do the bolt replacements in accordance with the instructions of paragraphs 2.C.(1) through 2.C.(3), and paragraphs 2.D.(1) through 2.D.(3), of the Accomplishment Instructions of BAE Systems (Operations) Limited Inspection Service Bulletin ISB.53-194, dated January 10, 2007, except as required by paragraphs (f)(2), (f)(3), and (f)(4) of this AD.

(2) If any defect is found during the inspection specified in paragraph (f)(1) of this AD, before further flight, replace the affected bolts in accordance with the Accomplishment Instructions of BAE Systems (Operations) Limited Inspection Service Bulletin ISB.53-194, dated January 10, 2007, except as required by paragraphs (f)(3) and (f)(4) of this AD.

(3) For airplanes on which replacement parts are not available during the replacement specified in paragraph (f)(2) of this AD, do the actions in paragraphs (f)(3)(i) and (f)(3)(ii) of this AD in accordance with the Accomplishment Instructions of BAE Systems (Operations) Limited Inspection Service Bulletin ISB.53-194, dated January 10, 2007.

--This is a summary of a Federal Register article originally published on the page number listed below--

Final rule.

CFR Part: "14 CFR Part 39"

RIN Number: "RIN 2120-AA64"

Citation: "73 FR 70265"

Document Number: "Docket No. FAA-2008-0887; Directorate Identifier 2007-NM-336-AD; Amendment 39-15735; AD 2008-23-14"

Federal Register Page Number: "70265"

"Rules and Regulations"

"The BAE Systems' Team has excelled in its support of our Armed Services in its time of urgent need. Caiman has been On Time-On Target," said Chris Chambers, Vice President, Medium/Heavy Vehicles at BAE Systems. "By any measure Caiman is a success: contract award to production deliveries in 43 days; an unmatched, exemplary delivery to contract and a vehicle protection and reliability record that has enabled our troops to complete their vital mission."

"The RG33 represents an unprecedented story of success that reflects industries unsurpassed rapid response to the Department of Defense's immediate requirement to defeat an ever evolving threat," said Matt Riddle, Vice President, Wheeled Combat Vehicles at BAE Systems. "From design to fielding in less than six months, the RG33 has proven itself worthy in combat and has well earned the respect and accolades of its U.S. military crewmen."

The Caiman and RG33 were developed in 2006 to provide U.S. warfighters in Iraq a vehicle that would protect them against rocket-propelled grenades, roadside bombs and explosively formed projectiles. Prototypes of both vehicles were delivered in January 2007; the first production contracts were awarded to the RG33 in February 2007 and to the Caiman in July 2007.

The Caiman, RG33 and other MRAP models have since replaced many of the unarmored or lightly armored vehicles used for combat-related missions in Iraq.

The Caiman

As a member of the Family of Medium Tactical Vehicles (FMTV), the Caiman shares many features and components, vastly reducing current and future logistic and training loads and allowing sharing of technology advancements such as stability control, on/off-board power or diagnostic/prognostic systems. Additionally, it offers an adaptable, applique-based protective system allowing rapid future transformation to match changing threats or removal to vastly reduce the vehicle weight and a high volume under armor with leading payload capacity. The Caiman continues to achieve a sustained operational readiness rate average of 95 percent and has been utilized throughout the spectrum of operations. Manufacturing of the Caiman is coordinated between six of BAE Systems' facilities in Cincinnati, Ohio; Louisville, Kentucky; Phoenix, Arizona; Monroe, North Carolina; Sealy, Texas; and Orangeburg, South Carolina.

RG33

The RG33 sets the standard for mine-protected vehicles in the 20 to 40-ton weight class, providing superior performance through enhanced survivability, advanced mobility, mission flexibility, rapid availability and vehicle commonality. It features a state-of-the art v-shaped hull that provides superior blast protection against symmetrical, asymmetrical and unconventional explosive hazards. With its large modular interior, high-mobility chassis and extensive equipment options, the RG33 is an integrated, proven, survivable, blast-protected vehicle. The versatility of the RG33 is represented in the many variants of the vehicle -- 4x4 and 6x6 configurations, an armed utility variant, a variant designed for Special Operations Command, an ambulatory variant and a command and control variant.

About BAE Systems

BAE Systems is the premier global defense and aerospace company delivering a full range of products and services for air, land and naval forces, as well as advanced electronics, information technology solutions and customer support services. With approximately 100,000 employees worldwide, BAE Systems' sales exceeded GBP15.7 billion (US $31.4 billion) in 2007.

SOURCE: BAE Systems

Jessica Pantages, BAE Systems 
Tel: +1 703-312-6157 Mobile: +1 703-439-0345 
jessica.pantages@baesystems.com 
or 
Shannon Smith, BAE Systems 
Tel: +1 703-907-8257 Mobile: +1 703-967-3854 
shannon.n.smith@baesystems.com 
www.baesystems.com

-- Revenue amounted to $10.1 million compared to $7.7 million in Q3 last year, representing 31% growth. The increase was primarily due to an increase in revenues from our FMS customers in both the US and internationally, including revenues generated from the Movaris business.

-- Gross margin amounted to $6.5 million in Q3, representing 64% of revenue, compared to $5.0 million and 64% in Q3 last year.

-- Trintech increased expenditure in research and development by 37% from $1.2 million in Q3 last year to $1.6 million in the same quarter in the 2009 fiscal year. The increase was primarily due to the inclusion of costs relating to the Movaris business.

-- Trintech increased expenditure in sales and marketing by 12% from $2.5 million in Q3 in the 2008 fiscal year to $2.8 million in the same quarter in the 2009 fiscal year. The increase was primarily due to the inclusion of costs relating to the Movaris business.

-- General and administrative expenses increased marginally by 1% to $2.29 million in Q3 of the 2009 fiscal year compared to $2.26 million in Q3 of the 2008 fiscal year.

-- Trintech realized a gain of $920,000 in Q3 of the 2009 fiscal year relating to the final settlement of an escrow amount held back against any claims arising from the sale of the payments business to VeriFone Holdings, Inc. in September 2006.

-- Trintech generated $1.1 million cash from continuing operations, and combined with the $920,000 proceeds from a settlement of the escrow balance, increased its cash balances (including restricted cash) to $18.1 million at the end of the quarter.

-- Trintech generated an Adjusted EBITDA net income of $550,000 for Q3 of the 2009 fiscal year compared to an Adjusted EBITDA net loss of $164,000 for the corresponding period in the prior year.

-- Combined basic and diluted net income per equivalent ADS for the quarter ended October 31, 2008 was $0.03, compared with a basic and diluted net loss per equivalent ADS of $0.07 for the quarter ended October 31, 2007.

Cyril McGuire, Chairman & Chief Executive Officer said, "Trintech's performance in Q3 was solid with strong revenue growth of 31% and adjusted EBITDA net income of $550,000 despite the unprecedented turbulence in the global economic environment. Our commitment to driving growth with EBITDA profitability while maintaining a strict control on our operating cost base is proving to be prudent given the uncertain business outlook. Our business continues to be cash generative with net cash inflows of $1.9 million during the quarter bringing our group cash reserves (including restricted cash) to $18.1 million with no borrowings. Our strategy in the short to medium term will be to focus and invest in our organic business model which is broadly based over a number of key vertical markets and geographies globally while continuing to extract and streamline our cost base."

Paul Byrne, President, added, "Our strategy of focusing on a broader product set targeted at improving operational efficiency in financial operations and regulatory compliance while reducing costs for our clients, expanding our presence in international markets, and ensuring an efficient operating cost base has enabled, and we believe will continue to enable Trintech to deliver continued year over year growth in revenue and EBITDA profitability."

Recent Highlights include:

Trintech announced that Somerston Hotels Ltd selected ReconNET to improve reconciliation and exception management processes while increasing operational efficiencies. Somerston Hotels owns and operates 32 hotels throughout the United Kingdom under two international brands, Express by Holiday Inn and Ramada Encore. With 31 Express by Holiday Inn hotels, Somerston Hotels is the largest franchisee of the brand in the United Kingdom.

Trintech announced that BAE Systems Shared Services has selected AssureNET GL to increase the timeliness and accuracy of their balance sheet account reconciliations. AssureNET GL is an automated reconciliation software system that assists in performing this critical business function, while facilitating internal controls and compliance. BAE Systems, with operations across five continents and customers and partners in more than 100 countries, develops, delivers, and supports advanced defence and aerospace systems in the air, on land, and at sea.

Concuity, a Healthcare division of Trintech, announced that Valley Baptist Health System selected the ClearContracts(TM) Payer Compliance suite to more accurately calculate payments from managed care and government payers; more easily negotiate contract terms and analyze and track the results of managed care agreements; better hold payers accountable to the terms of agreements; and appeal and collect underpaid and denied claims. Valley Baptist Health System is one of the largest not-for-profit health systems in South Texas with more than 800 beds.

Trintech announced that Chrysler Financial has selected AssureNET GL to automate the review, approval, and status tracking of account reconciliations and manage the accounting close process. Chrysler Financial, with headquarters in Farmington Hills, Mich., serves as the center of activity for operations in the U.S., Canada, Mexico, and Venezuela.

Trintech announced the availability of ReconNET 7.5. The newest version of Trintech's reconciliation and account balancing application includes improved security, usability enhancements, and supports a new archival module which will help customers further streamline reconciliation workflow so they can deploy resources to other areas critical to their business.

Trintech announced the general availability of XLNET 5.3. This release is loaded with innovative features and customer-driven enhancements, including a new executive dashboard providing greater visibility and control over business critical spreadsheets. XLNET comprises an integrated suite of spreadsheet management software delivering capabilities to inventory, risk assess, remediate, manage, control, review, approve and monitor business critical spreadsheets and Access databases.

Results Overview:

The increase in revenues was primarily due to an increase in revenues from our FMS customers in both the US and international markets, including revenues generated from the Movaris business.

Software license revenue for the quarter ended October 31, 2008 was $4.8 million compared with $3.7 million for the corresponding quarter in the prior year, an increase of 28%. The increase was primarily due to an increase in North America revenues and revenues generated from the Movaris business.

Service revenue for the third quarter ended October 31, 2008 increased 34% to $5.3 million from $4.0 million for the corresponding quarter in the prior year. The increase was primarily due to an increase in international revenues and revenues generated from the Movaris business.

Total gross margin for the third quarter ended October 31, 2008 was $6.5 million, an increase of 30% from $5.0 million in the corresponding quarter in the prior year.

Total operating expenses for the third quarter ended October 31, 2008 were $7.2 million, an increase of 14% from $6.3 million in the corresponding quarter in the prior year. Adjusted EBITDA operating expenses for the quarter ended October 31, 2008 were $6.3 million, an increase of 15% on the Adjusted EBITDA operating expenses of $5.5 million for the corresponding period in the prior year.

Consolidated Adjusted EBITDA net income was $550,000 for the third quarter ended October 31, 2008 compared to an Adjusted EBITDA net loss of $164,000 for the corresponding quarter in the prior year.

Trintech's balance sheet remains strong with cash balances (including restricted cash) of $18.1 million as of October 31, 2008. Net cash generated for the three months ended October 31, 2008 was $1.9 million, which included cash generated from continuing operations of $1.1 million and the proceeds on settlement of an escrow amount in relation to the sale of the payments business to VeriFone Holdings Inc. of $920,000. Cash outflows for the quarter also included $33,000 relating to purchases of the company's stock through the company share buy-back scheme.

Trintech will host a conference call to discuss its financial results and business outlook beginning at 15:30hrs (UK Time) today, Wednesday, November 19, 2008. Please see advisory for information on the call.

A web simulcast of Trintech's conference call reviewing our performance for Q3 fiscal year 2009 and our business outlook for Q4 and full fiscal year 2009 will be broadcast live today, Wednesday, November 19, 2008 at 15:30 hrs (UK Time), 10:30 hrs (NY Time) and 07:30 hrs (CA Time) and thereafter for 1 year at http://www.trintech.com/investor. An instant telephone replay will also be available for 10 days by dialing +44 1452 55 00 00 and entering the following access number (7 2 0 2 1 9 0 1 #).

About Trintech Group

Trintech Group Plc (Nasdaq: TTPA) is a leading global provider of integrated financial governance, transaction risk management, and compliance solutions. The Company enables companies to achieve excellence in financial governance and performance management through a comprehensive platform of account reconciliation, accounting compliance, and financial reporting applications across the financial lifecycle.

Over 570 leading global organizations are realizing the benefits of Trintech solutions every day to gain greater control, visibility, and efficiency across financial processes; improve financial performance through stronger management of revenue and cost cycles; ensure the accuracy and integrity of financial data, thereby reducing the risk of material weaknesses and restatements and to drive immediate efficiencies and cost reductions in financial operations through automation and scalability. Trintech's customers include retail chains, commercial companies, financial institutions and healthcare providers in the United States, the UK and the Republic of Ireland, continental Europe and Australia. Top customers in recent years include Accenture, Regis Corporation, Sodexho Operations, Target Stores, Providence Health and Cleveland Clinic.

Trintech's technology enables our customers to ensure their internal financial processes are optimized, improve performance through stronger management of revenue and cost cycles, ensure the accuracy and integrity of financial data, improve the quality and efficiency of the financial close process, as well as reduce the risk of material weaknesses and restatements.

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 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 Trintech's short to medium term growth strategy and Trintech management's belief that the company's broader product portfolio will drive revenue growth and EBITDA profitability. Factors that could cause or contribute to such differences include Trintech's ability to accurately predict future sales, its ability to accurately predict and meet customer needs and to successfully position itself in the market, Trintech's ability to ensure the performance of its products and services, and its ability to improve the performance of its organization and ensure the long term health of its business. 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, 2008 filed with the US Securities and Exchange Commission (http://www.sec.gov) and subsequent filings with the US Securities and Exchange Commission. Lastly, Trintech assumes no obligation to update these forward-looking statements.

     Contact
     Paul Byrne, President
     Joseph Seery, VP Finance, Group
     Trintech Group Plc
     +353 1 293 9840
     paul.byrne@trintech.com
     joseph.seery@trintech.com



                              TRINTECH GROUP PLC
                    CONDENSED CONSOLIDATED BALANCE SHEETS
         (U.S. dollars in thousands, except share and per share data)

                                                         Oct 31,      Jan 31,
                                                          2008         2008
    ASSETS
    Current assets
    Cash and cash equivalents                            $16,840      $23,766
    Restricted cash                                        1,308            -
    Accounts receivable, net of allowance for doubtful
     accounts of $174 and $24 at October 31, 2008 and
     January 31, 2008, respectively                        5,934        6,507
    Prepaid expenses and other current assets              1,303        1,195
    Deferred costs                                           249           69
    Net current deferred tax asset                           429          234
          Total current assets                            26,063       31,771

    Non-current assets
    Restricted cash                                            -          338
    Property and equipment, net                            1,322        1,597
    Deferred costs- non current                              324          109
    Net non-current deferred tax asset                       326          136
    Intangible assets, net                                 5,961        4,534
    Goodwill                                              23,332       17,126
          Total non-current assets                        31,265       23,840
          Total assets                                   $57,328      $55,611

    LIABILITIES AND SHAREHOLDERS' EQUITY
    Current liabilities
    Accounts payable                                       1,588          515
    Accrued payroll and related expenses                   1,848        2,156
    Deferred consideration                                 2,970        1,049
    Net current deferred tax liability                        24          231
    Income taxes payable                                     169          184
    Other accrued liabilities                              1,623        1,718
    Deferred revenues                                      8,994        8,317
    Liabilities held for sale and in discontinued
     operations                                               53          141
          Total current liabilities                       17,269       14,311

    Non-current liabilities
    Capital leases due after more than one year               77          190
    Deferred consideration                                     -        2,000
    Income taxes payable                                      83          119
    Net non-current deferred tax liability                   253            -
    Deferred rent less current portion                       364          427
          Total non-current liabilities                      777        2,736

    Series B preference shares, $0.0027 par value
     10,000,000 authorized at October 31, 2008
     and January 31, 2008, respectively
     None issued and outstanding                               -            -
    Shareholders' equity:
      Ordinary Shares, $0.0027 par value:
       100,000,000 shares authorized; 33,454,135 and
       32,413,719 shares issued and 31,949,887 and
       31,821,201 shares outstanding at October 31,
       2008 and January 31, 2008, respectively                90           87
    Additional paid-in capital                           252,902      251,029
    Treasury shares (at cost, 488,748 and 592,518
     at October 31, 2008 and January 31, 2008,
     respectively)                                          (812)      (1,011)
    Accumulated deficit                                 (209,033)    (208,135)
    Accumulated other comprehensive loss                  (3,865)      (3,406)
          Total shareholders' equity                      39,282       38,564
          Total liabilities and shareholders' equity     $57,328      $55,611



                              TRINTECH GROUP PLC
               CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                                      Three months            Nine months
                                    ended October 31        ended October 31
                                   2008          2007      2008          2007
    Revenue
      License                       4,777       3,731      15,048      11,750
      Service                       5,337       3,991      15,192      12,238
        Total revenue              10,114       7,722      30,240      23,988

    Cost of revenue
      License                         619         409       1,705       1,186
      Amortization of purchased
       technology                     226         164         668         491
      Service                       2,788       2,172       7,609       6,462
        Total cost of revenue       3,633       2,745       9,982       8,139

    Gross Margin                    6,481       4,977      20,258      15,849

    Operating expenses
      Research and development      1,580       1,152       4,630       3,679
      Sales and marketing           2,831       2,527       9,368       7,994
      General and administrative    2,285       2,263       7,328       7,286

      Restructuring charge            100           -         154           -
      Amortization of purchased
       intangible assets              416         385       1,226       1,156
        Total operating expenses    7,212       6,327      22,706      20,115

    Loss from operations             (731)     (1,350)     (2,448)     (4,266)
      Interest income, net             73         264         265         845
      Exchange gain, net              151         184         252         381
      Loss before provision for
       income taxes                  (507)       (902)     (1,931)     (3,040)

    Provision for income taxes        142        (253)        113        (543)

    Net loss from continuing
     operations                     $(365)    $(1,155)    $(1,818)    $(3,583)

    Gain on sale of discontinued
     operations, net                  920           -         920          16

    Net income (loss)                $555     $(1,155)      $(898)    $(3,567)

    Weighted-average shares
     used in computing basic
     net income (loss) per
     Ordinary Share
      Basic                    31,947,108  31,430,368  31,916,366  31,318,787
      Diluted                  33,017,121  31,430,368  31,916,366  31,318,787

    Basic and diluted income
    (loss) per Ordinary Share       $0.02      $(0.04)     $(0.03)     $(0.11)

    Basic and diluted income
    (loss) per equivalent ADS       $0.03      $(0.07)     $(0.06)     $(0.23)



                              TRINTECH GROUP PLC
       RECONCILIATION OF NET LOSS TO ADJUSTED EBITDA NET INCOME (LOSS)
                         (U.S. dollars in thousands)

                                           Three months        Nine months
                                         ended October 31    ended October 31
                                          2008      2007      2008       2007

    Net loss from continuing operations  $(365)  $(1,155)   $(1,818)  $(3,583)
      Adjustments:
      Depreciation                         183       171        575       472
      Amortization of purchased
       intangible assets                   642       549      1,894     1,647
      Share-based compensation             205       282        744       816
      Restructuring charge                 100         -        154         -
      Interest income, net                 (73)     (264)      (265)     (845)
      Income taxes                        (142)      253       (113)      543

    Adjusted Earnings Before Interest,
     Taxation, Depreciation, Amortization,
     Share-based compensation,
     Restructuring (EBITDA) net
     income (loss)                        $550     $(164)    $1,171     $(950)

    Adjusted Earnings Before Interest,
     Taxation, Depreciation, Amortization,
     Share-based compensation (EBITDA) net
     income for discontinued operations      -         -          -        13
    Adjusted Earnings Before Interest,
     Taxation, Depreciation, Amortization,
     Share-based compensation,
     Restructuring (EBITDA)
     net income (loss)                    $550     $(164)    $1,171     $(937)

    Adjusted Basic and diluted income
     (loss) per Ordinary Share           $0.02    $(0.01)     $0.04    $(0.03)

    Adjusted Basic and diluted
     income (loss) per equivalent ADS    $0.03    $(0.01)     $0.07    $(0.06)

Note: Management believes Adjusted EBITDA net income (loss) is an important measure of Company performance without consideration of the non-operating income and expense adjusted above as it presents a clearer view of operational performance changes between the comparative periods.

                              TRINTECH GROUP PLC
      RECONCILIATION OF OPERATING EXPENSES TO ADJUSTED EBITDA OPERATING
                                   EXPENSES
                         (U.S. dollars in thousands)

                                          Three months        Nine months
                                        ended October 31    ended October 31
                                         2008      2007      2008      2007
    Total operating expenses from
     operations                         $7,212    $6,327    $22,706   $20,115
      Adjustments:
      Restructuring charge                (100)        -       (154)        -
      Depreciation                        (167)     (155)      (514)     (430)
      Amortization of purchased
       intangible assets                  (416)     (385)    (1,225)   (1,156)
      Share-based compensation            (188)     (268)      (698)     (751)

    Adjusted EBITDA operating expenses
     from continuing operations         $6,341    $5,519    $20,115   $17,778

    Adjusted EBITDA operating
     expenses from discontinued
     operations                            $ -       $ -        $ -      $(29)

    Adjusted EBITDA operating expenses  $6,341    $5,519    $20,115   $17,749

Note: Management believes Adjusted EBITDA operating expenses is an important measure of Company performance without consideration of the non-operating expense adjusted above as it presents a clearer view of operational performance changes between the comparative periods.

                              TRINTECH GROUP PLC
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                         (U.S. dollars in thousands)

                                                               Nine months
                                                             ended October 31,
                                                            2008          2007
    CASH FLOWS FROM OPERATING ACTIVITIES:
    Net loss                                               $(898)     $(3,567)
    Adjustments to reconcile net loss to
     net cash provided by (used in) operating activities:
        Depreciation                                         575          472
        Gain on sale of fixed assets                           -           (5)
        Amortization of purchased intangible assets        1,894        1,647
        Share-based compensation                             744          816
        Gain on sale of discontinued operations, net        (920)           -
        Effect of changes in foreign currency
         exchange rates                                     (120)         (15)
        Changes in operating assets and liabilities:
            Accounts receivable                            2,063        1,054
            Prepaid expenses and other current assets       (638)         (33)
            Value added tax receivable                        45           33
            Accounts payable                               1,018         (235)
            Accrued payroll and related expenses            (616)        (310)
            Deferred revenues                                266          149
            Value added tax payable                           41          (53)
            Warranty reserve                                 (25)         (16)
            Other accrued liabilities                       (220)        (553)
    Net cash provided by (used in) operating activities    3,209         (616)

    CASH FLOWS FROM INVESTING ACTIVITIES:
    Purchases of property and equipment                     (244)        (538)
    Proceeds (payments) relating to the sale of
     discontinued operations, net                            920         (331)
    Increase in restricted deposits                         (970)           -
    Payments relating to acquisitions                     (8,749)        (865)
    Net cash used in investing activities                 (9,043)      (1,734)

    CASH FLOWS FROM FINANCING ACTIVITIES:
    Principal payments on capital leases                    (109)         (45)
    Proceeds from sale of fixed assets                         -          338
    Issuance of ordinary shares                              124          390
    Repurchase of ordinary shares                            (33)           -
    Proceeds under bank overdraft facility                     -          137
    Increase in restricted cash deposits                       -         (338)
    Net cash (used in) provided by financing activities      (18)         482

    Net decrease in cash and cash equivalents             (5,852)      (1,868)
    Effect of exchange rate changes on cash and cash
     equivalents                                          (1,074)          50
    Cash and cash equivalents at beginning of period      23,766       25,766

    Cash and cash equivalents at end of period           $16,840      $23,948

    Supplemental disclosure of cash flow information
        Interest paid                                        $25          $53
        Taxes paid                                          $167         $118

    Supplemental disclosure of non-cash flow information
        Acquisition of property and equipment under
         capital leases                                     $(30)       $(338)
        Shares issued in connection with acquisition      $1,239          $ -

SOURCE Trintech Group Plc

http://www.trintech.com