Welcome to our dedicated page for Trinity Biotech plc news (Ticker: TRIB), a resource for investors and traders seeking the latest updates and insights on Trinity Biotech plc stock.
Trinity Biotech plc (NASDAQ: TRIB) is an international leader in the diagnostics industry, focusing on the development, manufacturing, and marketing of clinical diagnostic products for both clinical laboratories and point-of-care settings. Headquartered in Ireland, Trinity Biotech has been at the forefront of the industry since its formation in 1992, employing over 350 people and offering more than 400 products to customers in 80 countries.
Through a blend of organic growth and strategic acquisitions, Trinity Biotech has built a comprehensive portfolio of diagnostic products. These include test kits for the detection of infectious diseases, sexually transmitted diseases, autoimmune and hemoglobin disorders, and tools for diabetes monitoring and control. The company also supplies raw materials to the life sciences industry, expanding its influence and reach within the global market.
Trinity Biotech's product lineup features well-known brands such as Recombigen, Unigold, MarBlot, Mardx, and Immublot. The company's operations are geographically segmented into the Americas and the rest of the world, with a significant portion of its revenue derived from the Americas.
Recent developments have seen Trinity Biotech making significant strides in the diabetes management sector. The company recently acquired biosensor technology from Waveform Technologies Inc., marking its entry into the wearable biosensor market. This new venture aims to develop a range of biosensor devices, starting with a continuous glucose monitoring (CGM) product. To lead this initiative, Trinity Biotech appointed Avinash Kale as the Continuous Glucose Monitor Programme Director. Mr. Kale brings extensive experience in MedTech R&D and will play a pivotal role in advancing the company's CGM technology.
The company's commitment to innovation and excellence is evident in its ongoing projects and partnerships. Trinity Biotech continues to expand its product offerings and improve existing technologies to meet the needs of healthcare providers and patients worldwide. The company's dedication to quality and sustainability ensures that its diagnostic solutions remain at the cutting edge of the industry.
Trinity Biotech's financial performance for the fiscal year 2023 has been robust, with the company reporting significant growth and key business updates. The company's strategic focus on diabetes management solutions and human diagnostics positions it well for future success and shareholder value creation. For more details, visit Trinity Biotech's website.
Trinity Biotech (TRIB) reported Q3 2022 revenues of $19.5 million, reflecting an 11.4% decline from $22.0 million in Q3 2021. Excluding Covid-related products, revenues increased by 2% YoY. Haemoglobin and Fitzgerald Industries sectors drove a 30% revenue increase. Gross profit fell to $2.0 million (10.3% margin), impacted by $4.7 million in inventory write-downs. Operating loss was $7.1 million, a significant decrease compared to last year. Cash reserves decreased to $7.3 million from $10.5 million at Q2 2022. The company continues to develop new diagnostic products, targeting launches in 2023.
Trinity Biotech (Nasdaq: TRIB) will report its third quarter fiscal year 2022 financial results on December 15, 2022. A conference call discussing these results is scheduled for the same day at 11:00 am ET. Interested participants can join the call via US toll-free at 1-844-861-5499 or access the webcast online. The results will be crucial for investors to gauge the company's performance in the diagnostic products sector. Trinity Biotech develops diagnostic systems for infectious diseases and other health parameters, selling directly in major markets and through international distributors.
Dublin-based Trinity Biotech (Nasdaq: TRIB) is set to participate in the Piper Sandler 34th Annual Healthcare Conference on December 1, 2022. CEO Aris Kekedjian and CFO John Gillard will present at 10:30 AM ET and will hold individual meetings with investors. A webcast of the presentation will be available for three months. Trinity Biotech specializes in diagnostic products for point-of-care and clinical laboratory markets, supplying over 75 countries with its systems to detect infectious diseases and measure Haemoglobin A1c levels.
Trinity Biotech (Nasdaq: TRIB) reported Q2 2022 revenues of $18.5 million, a 28.6% decline from Q2 2021. Excluding COVID-related PCR products, revenues were flat year-over-year but increased 7% from Q1 2022. Notable increases include a 25% growth in diabetes A1c product line revenues. Q3 2022 revenue guidance is between $19 million and $20 million, driven by anticipated growth in HIV point of care revenue. The company's early debt repayments saved approximately $2.3 million in interest. Gross profit decreased to $6.5 million, reflecting lower-margin product sales.
Trinity Biotech (Nasdaq: TRIB) will announce its second quarter fiscal year 2022 financial results on November 3, 2022. A conference call is scheduled for the same day at 11:00 am ET to discuss the results. Interested parties can join via multiple dial-in options or access a simultaneous webcast. A replay will be available until November 10, 2022. Forward-looking statements in the release caution about various risks, including regulatory challenges and competitive pressures. Additional details can be found on their website.
Trinity Biotech plc (Nasdaq: TRIB) has appointed Tom Lindsay as an independent non-executive director, enhancing its Board of Directors with his extensive experience in the diagnostics sector. Lindsay brings over 35 years of expertise, including leadership roles in point of care diagnostics at Alere Inc. His consultancy in international diagnostics and position at Genedrive plc further complement his credentials. Meanwhile, two non-executive directors, Seon Kyu Jeon and Michael Sung Soo Kim, have departed the board, signaling a shift as the company seeks to bolster product development and distribution, particularly in Asia.
Trinity Biotech plc (Nasdaq: TRIB) appointed Aris Kekedjian as CEO effective October 3, 2022, succeeding co-founder Ronan O’Caoimh, who remains on the Board. Kekedjian brings over 30 years of leadership experience from General Electric and other companies. His role comes as Trinity Biotech seeks to transform in the diagnostic landscape, focusing on decentralized testing and digital health solutions post-COVID-19. His substantial options package aligns his interests with shareholders, reflecting a strategic shift in leadership aimed at fostering growth in a digitized diagnostic ecosystem.
Trinity Biotech plc (Nasdaq: TRIB) held its Annual General Meeting (AGM) on September 30, 2022, at its headquarters in Bray, Ireland. Shareholders approved several resolutions, including:
- Increasing authorized share capital by 600 million A ordinary shares.
- Reappointing Grant Thornton as statutory auditors.
- Re-election of directors Aris Kekedjian, Michael Sung Soo Kim, and Seon Kyu Jeon.
- Renewing authority for share repurchases within prescribed limits.
However, Resolution 9 regarding treasury share re-allocation was not approved.
Trinity Biotech (TRIB) reported Q1 2022 revenues of $18.8 million, a 26.6% decline from $25.6 million in Q1 2021. Point-of-Care revenues increased 14.6% to $2.2 million, driven by higher HIV test sales in Africa. However, Clinical Laboratory revenues fell 29.9% to $16.6 million due to decreased COVID-19 product sales. Gross profit decreased to $7.3 million, with a gross margin of 38.7%, down 3.9% from last year. The company reported a Q1 loss after tax of $12.3 million compared to a profit of $1.6 million in the prior year. Adjusted EBITDA was $0.9 million.
Trinity Biotech (Nasdaq: TRIB) will report its financial results for Q1 FY2022 on June 30, 2022.
The company has scheduled a conference call at 11:00 AM ET on the same day to discuss these results. Interested parties can join by dialing in or via a webcast link provided in the release.
This call is crucial for stakeholders seeking insights into the company's performance amid ongoing challenges in the diagnostic market.
FAQ
What is the current stock price of Trinity Biotech plc (TRIB)?
What is the market cap of Trinity Biotech plc (TRIB)?
What does Trinity Biotech plc do?
Where is Trinity Biotech headquartered?
What recent developments have been made by Trinity Biotech?
How many products does Trinity Biotech offer?
In which markets does Trinity Biotech operate?
What are some of Trinity Biotech's product brands?
What is the significance of Trinity Biotech in the diagnostics industry?
Who is the CEO of Trinity Biotech?
What is Trinity Biotech's focus in recent years?
How can I learn more about Trinity Biotech's products and services?
