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Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (111474)	3/22/2004 1:43:59 PM
From: richardred	Respond to of 208838

hey: somebody agreess with me! EL DORADO HILLS, Calif., Mar 22, 2004 (BUSINESS WIRE) -- J.M. Dutton & Associates continues coverage of Trinity Biotech (Nasdaq:TRIB) with a Buy rating and a 12-month $5.25 price target. The 12-page report by J.M. Dutton senior analyst Stephen L. Handley is available at www.jmdutton.com, and at First Call, Multex, Bloomberg, Zacks, and other leading financial portals. Trinity is a solid, nicely profitable and well-managed diagnostic products company, and we believe that its stock represents good value at current levels. Our belief is that the final quarter of 2003 as well as the first and possibly second quarter of 2004 would be transition periods leading to significantly higher sales and earnings. Several considerations convince us that the current period will be followed by a higher level of sales and earnings: i) The U.S. direct sales force will become increasingly effective, ii) Gross margins are likely to expand, and iii) We expect additional acquisitions. During this transition period, increased sales and marketing expenses are likely to squeeze operating margins until the expanded sales force generates significant additional sales. For these reasons we have reduced our 2004 EPS estimate, and do not yet have a preliminary estimate for 2005. Nevertheless, because we expect earnings gains to resume later in the year we recommend that investors accumulate the shares during this period. We are reiterating our Buy rating and maintaining our year-end price target of $5.25.