Three Top Irish Tech Firms Report Losses but which Firms Export More than €12 billion each year?
Three publicly traded Irish tech companies have recently reported losses at a time of strong global economic growth.
The official target to achieve the status of a world-class knowledge economy is 2013.
Last month, IONA reported a net loss of $1.2 million in its second quarter; Trintech reported on Wednesday, Aug 22, a net loss for the second quarter of $1.0 million and today, Datalex reported a net loss of $0.9 million in H1 2007 compared with a profit of $1.6m in 2006.
Also today, under a headline: Irish tech firms take on Asia-Pacific - the Irish Examiner reports that Irish IT firms (not clear what proportion relates to Irish-owned firms as distinct from units of multinational firms, based in Ireland. Enterprise Ireland does not have a breakdown of exorts to Asia-Pacific by type of firm) already do business worth €185 million with Australia’s software industry. Australia has a highly- developed financial services sector and Enterprise Ireland is targeting it as a key gateway to the Asian-Pacific markets.
Several Irish firms are taking part in a series of networking events in Australia, beginning with a showcase seminar in Sydney today.
The Examiner says: Ireland is now in the world’s top three producers and exporters of software and 800 firms generate more than €12 billion in export revenue for the economy.
Impressive stuff to many readers I would suspect but it is more than misleading as 90- 95% of the quoted figure relates to exports made by foreign-owned firms based in Ireland.
I ask again, how can Irish-owned firms be helped by claiming the likes of Microsoft as an Irish tech firm?
Irish Trade Statistics: Policymakers opt for Spin and Delusion rather than confront challenging facts