Wicklow-based medical company Trinity Biotech said today it is in a strong financial position, in balance sheet terms, despite incurring costs associated with the operation and subsequent closure of its Seattle facility.
The group said selling, general and administrative expenses were higher in the second quarter compared to the same period last year - partly reflecting increased investment in a direct sales force in the US.
Chief executive officer Mr Ronan O'Caoimh said: "The second quarter produced a strong trading performance . . . The Bartels business is now being successfully managed within the group and has been strengthened by the new sales force which will focus on the sale of Trinity products direct to end-user customers in the US".
The comments came as Trinity Biotech reported a pretax profit of $1.476 million before exceptionals for the three months to June 30th, compared to $1.602 million in the corresponding period last year, on sales of $9.425 million, up 27 per cent from $7.401 million.
AFP