|Over a quarter ago|
Trinity Biotech reports Q3 revenue $24.6M, one est. $24.5M » 08:4710/1610/16/19
Ronan O'Caoimh, CEO…
Ronan O'Caoimh, CEO said "As anticipated revenues were stronger this quarter, being 4% higher than the equivalent period last year and over 9% higher than quarter 2 of this year. Point-of-care revenues were higher due to increased sales of HIV products in Africa. Meanwhile, Autoimmune and Diabetes revenues also grew, with the latter being driven by particularly strong instrument placements during the quarter. Further revenue growth will be derived from our entry into to the HIV screening market with our TrinSreen product, which we expect to submit to the WHO in January next, with approval to follow during 2020. Given the quality of this product and our knowledge and experience of the African HIV market, we are ideally positioned to take a meaningful share of this substantial market."
Trinity CEO says development of automated slide reader 'progressing well' » 08:3708/2008/20/19
Ronan O'Caoimh, CEO…
Ronan O'Caoimh, CEO of Trinity, said, "Revenues were down by $2.5m this quarter and whilst this was disappointing it was largely due to the fluctuating nature of our HIV revenues and to a lesser extent the reduction in the level of public health expenditure being allocated to HIV testing in the USA. On a more positive note our Clinical Laboratory revenues were broadly flat on a constant currency basis. As has been the case in all of our most recent quarters we have continued to see strong growth in our Diabetes and Autoimmunity product lines, although this growth was offset by lower Lyme and Fitzgerald revenues. I would like to highlight the company's strong R&D product pipeline which will be key to driving future revenue growth. In particular, our TrinScreen product, which will mark the company's entry into the $140m African HIV screening market, has the clear potential to transform the company from both a revenue and profitability perspective. Development of our new automated slide reader is progressing well and when launched will be a major boost to our already growing autoimmunity franchise. These come on the back of the Premier Resolution and Tri-Stat 2 product launches, which are already generating incremental haemoglobin revenues."