DUBLIN, Ireland, Oct. 17, 2013 (GLOBE NEWSWIRE) -- Trinity Biotech plc (Nasdaq:TRIB), a leading developer and manufacturer of diagnostic products for the point-of-care and clinical laboratory markets, today announced results for the quarter ended September 30, 2013, the acquisition of the blood bank screening business of Lab 21 and FDA approval for a claim for HIV-2 on its Unigold rapid HIV product.
Quarter 3 Results
Total revenues for Q3, 2013 were $24.1m which compares to $20.9m in Q3, 2012, an increase of 15.7%. However, this includes $1.8m of acquisition revenues. Excluding this impact, revenue growth for the quarter was 7%.
Point-of-Care revenues for Q3, 2013 increased by 11.9% when compared to Q3, 2012. This increase was mainly attributable to continued strong demand for HIV products in Africa.
Clinical Laboratory revenues increased from $16.1m to $18.8m, which represents an increase of 16.8% compared to Q3, 2012. Again excluding acquisition revenue, the increase during the quarter was approximately 6%. This growth was primarily driven by the continuing high level of Premier placements, 81 this quarter versus 54 in the equivalent quarter last year.
Revenues for Q3, 2013 were as follows:
Gross profit for Q3, 2013 amounted to $12.1m
representing a gross margin of 50.3%, which is lower than the 51% achieved in Q3, 2012. This decrease is mainly due to the impact of lower margins on the higher level of Premier instrument sales achieved during the quarter.
Research and Development expenses have increased from $0.8m
when compared to the equivalent quarter last year, whilst Selling, General and Administrative (SG&A) expenses have increased from $5.1m
over the same period. In both cases this increase is due to the impact of the Immco acquisition.