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Trinity Biotech Announces 43% Increase in Third Quarter Profit to US$1.735m and 15% Revenue Growth to US$7.60m -- 7:26 AM EDT DUBLIN, Ireland, Oct 24, 2000 /PRNewswire via COMTEX/ -- Trinity Biotech plc (Nasdaq: TRIBY) today announced results for the three months and nine months ended September 30, 2000. Net profit rose 43% to US$1,735k for the third quarter ended September 30, 2000, compared to US$1,210k for the same period last year. Revenue grew by 15% to US$7,601k for the third quarter compared to US$6,602k for the same period last year. Earnings per share grew 6% to 4.54 cents per share compared to 4.28 cents for the same period last year. Net profit for the nine months ended September 30, 2000 rose 47% to US$4,737k compared to US$3,214k for the same period last year. Revenue rose 12% to US$21,852k for the nine month period compared to US$19,454k for the same period last year. Earnings per share rose 16% to 13.21 cents per share for the nine months ended September 30, 2000, compared to 11.41 cents for the same period last year. Earnings before interest, tax and amortisation (EBITDA) rose 19% to US$2,095k for the third quarter and 24% to US$5,925k for the nine months, compared to US$1,762k and US$4,789k respectively for the same periods last year. On October 3, 2000, Trinity Biotech announced that it had acquired 33.3% of the share capital of HiberGen Ltd. for a consideration of $1,300k. HiberGen is an Irish genomics company, which aims to discover genetic variations of medical importance and has a broadly enabling and proprietary platform (SNaPIT) both for this and for use in pharmacogenomic analysis. Commenting on the results, Maurice Hickey, Chief Financial Officer, said, "Trinity Biotech had another strong performance in the third quarter with net profits increasing to US$1,735k. Research and development expenses amounted to US$834k compared to US$600k for the same period last year. Selling, general and administrative expenses increased from US$802k in the third quarter last year to US$1,031k this year reflecting the additional administration costs of Mardx and increased investment in the sales and marketing area. Trinity Biotech has been strongly cash generative for the nine months with EBITDA of US$5,925k and, as at September 30, 2000, the Company had cash balances of US$9,901k and bank debt of US$3,769k." Ronan O`Caoimh, Chief Executive Officer, commented, "The third quarter of 2000 produced another solid trading performance. In addition, the quarter was particularly positive given the successful completion of our investment in HiberGen Ltd. Through the licences acquired as part of this investment, Trinity Biotech will be enabled to develop a range of molecular diagnostic tests complementary to its existing product range." Finally, Trinity Biotech is pleased to announce that it will be changing its Nasdaq symbol from TRIBY to TRIB as of the opening of business on November 1, 2000. The change in symbol ensures that Trinity Biotech is on a par with other companies on the Nasdaq with only four letters in its symbol. Trinity Biotech develops, manufactures and markets over 100 diagnostic products for the point-of-care, self-testing and clinical laboratory segments of the diagnostic market. Trinity Biotech sells worldwide in over 75 countries, through more than 130 international distributors and strategic partners. Forward-looking statements in this release are made pursuant to the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, but not limited to, the results of research and development efforts, the effect of regulation by the United States Food and Drug Administration and other agencies, the impact of competitive products, product development commercialisation and technological difficulties, and other risks detailed in the Company`s periodic reports filed with the Securities and Exchange Commission. TRINITY BIOTECH PLC Consolidated Statement of Operations (US$000`s except share data) Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended Sept. 30, Sept. 30, Sept. 30, Sept. 30, 2000 1999 2000 1999 (Unaudited) (Unaudited) (Unaudited) (Unaudited) Revenues 7,601 6,602 21,852 19,454 Cost of goods sold (3,792) (3,601) (11,051) (11,156) 3,809 3,001 10,801 8,298 Research and development (834) (600) (2,369) (1,694) Selling, general & administrative expenses (1,031) (802) (2,971) (2,285) Amortisation (218) (203) (656) (602) Operating profit 1,726 1,396 4,805 3,717 Interest and other income 145 16 335 54 Interest expense (136) (202) (403) (557) Net profit 1,735 1,210 4,737 3,214 Earnings per ordinary share (in cents) 4.54 4.28 13.21 11.41 Weighted average number of ordinary shares outstanding 38,221,589 28,299,253 35,853,025 28,154,712 Earnings before interest, tax, depreciation and amortisation (EBITDA) 2,095 1,762 5,925 4,789 TRINITY BIOTECH PLC Consolidated Balance Sheet 30 September, 31 December, 2000 1999 (Unaudited) (Audited) US$000`s US$000`s FIXED ASSETS Intangible assets 25,163 20,559 Tangible assets 5,264 4,696 30,427 25,255 CURRENT ASSETS Inventories 10,679 9,511 Debtors and prepayments 8,790 7,212 Cash at bank 9,901 3,064 29,370 19,787 CREDITORS (Amounts falling due within one year) (5,271) (14,234) NET CURRENT ASSETS 24,099 5,553 TOTAL ASSETS LESS CURRENT LIABILITIES 54,526 30,808 CREDITORS (Amounts falling due after more than one year) (5,697) (8,086) 48,829 22,722 CAPITAL AND RESERVES Called up share capital Class `A` Ordinary shares 547 448 Class `B` Ordinary shares 12 12 Share premium account 71,198 47,864 Currency adjustment (6,932) (4,637) Profit and loss reserve (15,996) (20,965) Shareholders` funds - (all equity interests) 48,829 22,722 SOURCE Trinity Biotech plc CONTACT: Maurice Hickey of Trinity Biotech plc, +353-1-276-9800, or mhickey@trinitybiotech.ie (TRIBY) http://www.prnewswire.com (C) 2000 PR Newswire. All rights reserved. KEYWORD: Ireland INDUSTRY KEYWORD: BIO MTC SUBJECT CODE: ERN |
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| aus der Diskussion: | Trinity Biotech |
| Autor (Datum des Eintrages): | SaintVenant (24.10.00 14:46:16) |
| Beitrag: | 37 von 141 (ID:2164315) |
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