Trinity Biotech revenues up by 12.6 per cent
Revenues at Irish medical diagnostic firm Trinity Biotech rose by 12.6 per cent in the third quarter to $27.2 million (¤21.5 million), compared to $24.1 million (¤19 million) for the same period a year earlier.
The company, which is based in Bray, Co Wicklow, and quoted on the Nasdaq exchange, also said it was to temporarily suspend FDA trials for its Meritas Troponin test.
Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market.
Profit before tax was $4.6 million, compared to $5 million a year earlier while operating profit meanwhile decreased from $4.8 million to $4.6 million.
Earnings before interest, tax, depreciation, amortisation and share option expense for the quarter was $6.2 million, Trinity said.
The company reported that point-of-care revenues rose by 2.8 per cent to $5.4 million when compared to the same quarter in 2013, largely on the back of growth in HIV-related drugs in the US.
Clinical laboratory revenues were up by 15.4 per cent.