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Trinity Biotech Announces Quarter 3 Financial Results

Stocks in this article: TRIB

Profit After Tax increases by 13% to $4.5m

EPS increases by 12% to 20.7 cents per ADR

DUBLIN, Ireland, Oct. 18, 2012 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq:TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced results for the quarter ended September 30, 2012.

Quarter 3 Results                                                                           

Total revenues for Q3, 2012 were $20.9m which compares to $19.8m in Q3, 2011, representing an increase of 5.2%. However, taking in to account foreign exchange movements, the increase for the quarter is approximately 8%.

Point-of-Care revenues for Q3, 2012 increased by over 20% to $4.8m when compared to Q3, 2011 due to continued strong HIV sales in East Africa.

Clinical Laboratory revenues increased from $15.9m to $16.1m, which represents an increase of 1.4% versus Q3, 2011. Excluding the impact of foreign exchange movements (weaker Euro) and a decrease in Fitzgerald revenues the underlying increase was 6%.

Revenues for Q3, 2012 by key product area were as follows:  

 
  2011 Quarter 3 2012 Quarter 3 Increase  
  US$'000 US$'000 %
Point-of-Care 3,941 4,751 20.6%
       
Clinical Laboratory 15,885 16,100 1.4%
       
Total 19,826 20,851 5.2%

Gross profit for Q3, 2012 amounted to $10.6m which represents a gross margin of 51%, which is a slight decrease on the 51.7% in the corresponding period last year. This decrease is attributable to the impact of increased instrument sales, particularly to sales of our state-of-the-art Diabetes analyzer, Premier.

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