Trinity Biotech's Q1 revenues up over 7%

Revenues at Trinity Biotech rose by more than 7 per cent in the first quarter, as sales of its HIV products rose in Africa.

Total revenues amounted to $20 million for the first three months of the year, up from $18.7 million in the first quarter of 2011. Its point-of-care revenues were 13.3 per cent higher, lifted by sales of its HIV products. Revenues from its clinical laboratory sector were 5.5 per cent higher year on year, rising from $14.1 million to $14.9 million, included the impact of sales of its new Premier instrument.

Chief executive Ronan Ó Caoimh said the firm had a strong start to the year. “From a financial perspective we have continued to perform very well,” he said.

The quarter also saw the the acquisition of Fiomi Diagnostics for $13.1 million, including a cash payment of $5.6 million. The purchase marks the company’s entry into the lucrative cardiac market. “This quarter we have continued our growth trajectory in terms of both revenues and earnings,” said chief financial officer Kevin Tansley.