Trinity Biotech plc - TRIB STOCK NEWS

Trinity Biotech (TRIB) reported a 20.9% revenue increase for Q1 2021, totaling $25.6 million, compared to $21.2 million in Q1 2020. Point-of-Care revenues fell 43.4% to $1.9 million due to COVID-19 related delays in HIV test orders. Conversely, Clinical Laboratory revenues grew 32.9% to $23.7 million, driven by strong sales of COVID-19 products, particularly PCR Viral Transport Media. Gross profit rose 17.6% to $10.9 million, but gross margin decreased to 42.6%. Overall, the company shows resilience amid pandemic challenges with expectations for revenue recovery in the Point-of-Care segment.

Trinity Biotech (Nasdaq: TRIB) announces its Q1 fiscal year 2021 financial results will be reported on May 25, 2021. A conference call is scheduled for the same day at 11:00 am ET, where details will be discussed. Interested parties can access the call via various toll-free numbers, including 1-844-861-5499 for US callers. A replay will be available until June 1, 2021 with access codes provided. The company specializes in diagnostic products for both point-of-care and clinical laboratory markets, focusing on infectious disease detection.

Trinity Biotech has submitted its new HIV screening product, TrinScreen™ HIV, to the World Health Organisation (WHO) for approval. This product aims to enhance the company's existing HIV testing capabilities in Africa, building on its success with the Uni-Gold™ HIV test. The TrinScreen test detects HIV antibodies from a finger stick sample in under 12 minutes, boasting high assay sensitivity. A prior evaluation with 1,200 samples yielded excellent results. Approval from WHO is expected in months, during which the company will prepare for automated manufacturing in Ireland.

Trinity Biotech (TRIB) reported a 12.8% increase in fiscal year 2020 revenues to $102 million, up from $90.4 million in 2019. Point-of-care revenues decreased by 19.1% to $9.2 million, influenced by lower HIV sales and Covid-19 related logistical challenges. Conversely, clinical laboratory revenues surged 17.4% to $92.8 million, attributed to robust sales of Covid-19 products. The gross margin improved to 47.6%. Notably, the company achieved a profit after tax of $15.7 million, compared to a loss of $4.1 million in 2019, alongside a basic earnings per ADR of 75 cents.

Trinity Biotech (Nasdaq: TRIB) announced that it will report its financial results for the fourth quarter and fiscal year 2020 on March 25, 2021. A conference call will be held on the same day at 11:00 am ET to discuss these results. Interested parties can join the call via US Toll Free or International Toll numbers, and a webcast will also be available. The company specializes in developing diagnostic products for point-of-care and clinical laboratory markets, serving customers globally.

Trinity Biotech (Nasdaq: TRIB) has received CE Mark approval for its Covid-19 IgG ELISA antibody test, the Captia™ SARS-CoV-2 IgG ELISA. The test is now launched in the European Union and other CE Mark-recognizing countries following its introduction in the US under the FDA's Emergency Use Authorization. The test detects IgG antibodies and serves multiple purposes: confirming past infections, monitoring post-vaccination immune response, assisting in population immunity management, and pre-vaccination screening. The test shows 95.9% sensitivity and 100.0% specificity.

Trinity Biotech reported Q3 2020 revenues of $32.0 million, showing a 30.2% increase from Q3 2019. Point-of-Care revenues fell 46.8% to $2.1 million, impacted by COVID-19 logistics, while Clinical Laboratory sales rose 44.6% to $29.9 million. Operating profit surged to $9.1 million, a sevenfold increase, due to higher revenues and improved gross margins of 52.4%. The company launched a Covid-19 IgG ELISA antibody test, awaiting FDA approval, and anticipates ongoing strong demand for Covid-related products. Net profit stood at $7.3 million, with earnings per share at 35.0 cents.

Trinity Biotech (Nasdaq: TRIB) will report its third quarter 2020 financial results on November 17, 2020, followed by a conference call at 11:00 am ET. The call can be accessed via toll-free numbers in the US and internationally. A replay will be available until November 24, 2020. The company specializes in diagnostic systems, particularly for detecting infectious diseases and quantifying chemical parameters. Investors are advised that forward-looking statements involve risks, including regulatory impacts and competition.

Trinity Biotech (Nasdaq: TRIB) reported Q2 2020 revenues of $16.0 million, a 28.8% decline from $22.5 million in Q2 2019, primarily due to Covid-19's impact on its business. Point-of-Care revenues fell 41%, while Clinical Laboratory revenues dropped 27.5%. Gross profit increased to $6.9 million, achieving a gross margin of 42.9%. The company implemented cost-saving measures, resulting in a $0.5 million operating profit. Trinity Biotech is actively pursuing Covid-19 testing solutions, having filed for FDA approval for an ELISA antibody test.