Trinity Biotech's revenue rises 25%

Diagnostic test manufacturer Trinity Biotech yesterday announced a 25 per cent jump in third-quarter revenue to $33.3 million (€26.24 million).

Gross profits for the quarter, which ended on September 30th, increased to $15.3 million from $12.8 million in the same period in 2005.

Operating profit before share options rose to $3.3 million, compared to $2.2 million in the same period last year.

Chief financial officer Rory Nealon said: "Our operating margin has increased from 8.1 per cent in 2005 and 8.6 per cent last quarter to 9.9 per cent in the current quarter . . . This significant improvement in profitability has primarily resulted from the increased sales volumes created by the recent bioMérieux acquisition."

Trinity Biotech acquired a range of US coagulation products from bioMerieux in June.

Mr Nealon added that the acquisition pushed up the company's earnings before interest, tax, depreciation and amortisation (ebitda) from $3.6 million last quarter to $5.1 million.

Chief executive Ronan O'Caoimh announced that the firm had acquired the French distribution business of Nephrotek for $730,000.

This "will enable Trinity to sell directly in France". He added that Trinity Biotech planned to integrate the French activities of bioMerieux's haemostasis business with this new operation.