O'Keiko, This is just to inform some of our new visitors of
past success that the market still has not reacted to. In addition,
JOC talks about new products, reinforcing ROK comments in the CC,
and increased revenues (profits). Most likely there will be 3
more pennies added to already impressive growth. Ron said it all,
ROK is responsible for failures and I will gladly give him
(with BKF and JOC) kudos if they bring in 7 pennies for the year.
Do you remember this.....
Trinity Biotech Reports Record Third Quarter Results - Revenues & Income Increase Over 100% - Thursday, October 30, 1997 09:24 AM
> DUBLIN, Ireland--TRINITY BIOTECH plc (NASDAQ:TRIBY) today announced
third quarter and nine months results for the period ended September 30, 1997.
For the third quarter ended September 30, 1997, revenues increased 160% to $5,024,000, compared to revenues of $1,925,000 for the same quarter in 1996. This quarter marks the first in company history to record revenues in excess of $5 million. Net profit for the third quarter of 1997 increased to $351,000, or $0.019 per share based, on 18,839,905 shares outstanding, from $16,000, or $0.001 per share, based on 15,388,396 in the third quarter of 1996.
For the nine months ended September 30, 1997, revenues increased 151% to $12,245,000, compared to revenues of $4,880,000 for the same period in 1996. Net profit increased to $821,000, or $0.044 per share, based on 18,474,984 shares outstanding, from a net loss of $12,000, or $0.001, based on 15,147,793 shares in the nine months of 1996. The significant increase in both revenues and profit reflect increased product sales of Trinity's Uni-Gold rapid tests and the inclusion of revenues from Trinity's subsidiaries, Clark Laboratories and Centocor UK Holdings.
Commenting on the results, Jonathan O'Connell, chief financial officer
of Trinity Biotech, stated, "We are very pleased to report record
financial results for the third consecutive quarter. Yet again we have
significantly increased revenues and profit from existing operations and our Clark and Centocor subsidiaries. Our annualized revenue rate has approximately doubled in the first nine months of 1997 and is
approaching an annualized rate of $20 million compared to $7 million in 1996. These new revenue levels validate our strategy of diversifying our line of products to address all three segments of the diagnostic market. To that end, during the quarter we introduced two additional enzyme immunoassay (EIA) tests to the U.S. market through Wampole Labs, a subsidiary of Carter Wallace, Inc. (NYSE:CAR), and continued to enhance our international distribution system. Trinity now has an extensive distributor network with over 65 distributors in countries all over the world marketing the company's suite of rapid and EIA tests. As a result, we are confident that Trinity's depth and breadth of products and distributors, coupled with new product introductions, will continue to drive future growth and profitability."
Trinity Biotech develops, manufactures and markets over 90 diagnostic
tests which address all three segments of the diagnostic market 1) test kits for the clinical laboratory or traditional market; 2) rapid tests for the emerging point-of-care (POC) market and 3) simplified tests for the over-the-counter (OTC) market. The company's tests are sold around the world in 65 countries.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995. The statements which are not historical facts contained in this release are forward-looking statements that 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 (FDA) and other agencies, the impact of
competitive products, product development, commercialization and
technological difficulties, and other risks detailed in the Company's
Securities and Exchange Commission filings.
- tables to follow -
CONSOLIDATED STATEMENT OF OPERATIONS
(In U.S. Dollars)
Three Months Nine Months
September 30, September 30,
1997 1996 1997 1996
Total revenues $5,024,000 $1,925,000 $12,245,000 $4,880,000
Net Profit/(Loss) $351,000 $16,000 $821,000 $(12,000)
Earnings Per Share $0.019 $0.001 $0.044 $(0.001)
Weighted No. of
Shares 18,839,905 15,388,396 18,474,984 15,147,793
CONSOLIDATED BALANCE SHEET
September 30, December 31,
1997 1996
Cash & Short term investments $1,100,000 $7,458,000
Total Assets $17,857,000 $13,625,000
Shareholders' Equity $7,882,000 $10,573,000
CONTACT: Jonathan O'Connell
Chief Financial Officer
800/603-8076
or
INVESTOR RELATIONS CONTACT: Bruce Voss/Olga Fleming
olga@lhai.com
Lippert/Heilshorn & Associates, Inc.
212/838-3777 |
