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Trinity Biotech PLC (TRIB) specializes in innovative diagnostic solutions for global healthcare challenges, from infectious disease detection to diabetes management technologies. This news hub provides investors and healthcare professionals with essential updates on the company's strategic developments, regulatory milestones, and market positioning.
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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.
Dublin-based Trinity Biotech has submitted an Emergency Use Authorization (EUA) application to the FDA for its Covid-19 IgG ELISA antibody test. This test aims to identify individuals exposed to SARS-CoV-2, showcasing a specificity over 98% and sensitivity exceeding 95%. The company has also developed a rapid antibody test that requires just one drop of blood and can provide results in 12 minutes. Additionally, Trinity Biotech is increasing production of its Viral Transport Media to support ongoing Covid-19 testing demands.
Trinity Biotech (Nasdaq: TRIB) will report its second quarter 2020 financial results on August 25, 2020, accompanied by a conference call at 11:00 AM ET. The call will provide insights into the company’s performance for the quarter, focusing on diagnostic products for both point-of-care and clinical labs. Interested participants can join via US Toll Free or International numbers. A replay will be available until September 1, 2020. The company continues to navigate challenges related to COVID-19 while pursuing growth in diagnostics.
Trinity Biotech plc (Nasdaq: TRIB) announced that its subsidiary, Primus Corporation, received a warning letter from the U.S. FDA following an inspection of its Kansas City facility in January 2020. The letter mainly addresses issues concerning the Ultra2 product range. The company emphasizes its commitment to quality and compliance, expressing confidence in its products and plans to collaborate with the FDA to resolve these issues. A response detailing corrective actions will be submitted within 15 business days.
Trinity Biotech plc (Nasdaq: TRIB) reported Q1 2020 revenues of $21.2 million, down from $22.0 million in Q1 2019. Point-of-Care revenue increased by 4.4% to $3.3 million, while Clinical Laboratory revenue fell 5.3% to $17.8 million. Gross profit was $9.3 million with a margin of 43.8%. Operating profit rose to $1.7 million, and basic EPS increased to 1.7 cents. The company anticipates Q2 revenues of $13-15 million due to impacts from Covid-19, though it is in the validation phase for a Covid-19 IgG test.
