Trin­ity Biotech rev­enues up by 12.6 per cent

The Irish Times - Friday - The Ticket - - BUSINESS NEWS - CHARLIE TAY­LOR

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.

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