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To: Bob who wrote (22350)	10/27/2005 10:02:32 AM
From: Bob	Respond to of 78659

biz.yahoo.com Trinity Biotech Announces Quarter 3 Results Thursday October 27, 9:20 am ET Revenues Increase 25% DUBLIN, IRELAND--(MARKET WIRE)--Oct 27, 2005 -- Trinity Biotech plc (NasdaqNM:TRIB - News) (ISE:TRIB.I), 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, 2005. Revenues in the quarter increased 25.1% to US$26.9 million compared to US$21.5 million in the same period last year. Gross profit for the quarter amounted to US$13.2 million, representing a gross margin of 48.9%. This compares to a gross profit of US$11.0 million in the same period last year and represents an increase on the Quarter 2 margin of 48.2%. R&D expenses have increased from US$1.3 million in Quarter 3 last year to US$1.6 million in the current quarter. The increase in Administrative costs from US$7.6 million in Quarter 2 last year to US$9.4 million in the current year is primarily attributable to the recent Primus and RDI acquisitions. The net effect of the above factors was an operating profit of US$2.15 million and a profit after tax of US$1.6 million for the quarter as compared to US$1.2 million in quarter 2. This equates to an earnings per ADR for the quarter of 10.8 US cents (earnings per Ordinary Share of 2.7 US cents). Commenting on the results, Rory Nealon, Chief Financial Officer, said, "Quarter 3 has been a quarter of continuing progress for Trinity. Our revenues have grown by 18% on Quarter 2 and our operating margins have increased to 8.0% as compared to 6.8% at the start of the year. We have also funded our recent Primus acquisition entirely by bank debt which will enhance our financial flexibility and our ability to deliver further shareholder value. "We are especially pleased with the growth across all of our key product areas, each of which is outperforming the market growth rates. In particular, our infectious disease business has benefited strongly from large sales of flu antibodies in the current quarter." Ronan O'Caoimh, CEO, commented, "Primus, which we acquired on July 21 has experienced very strong instrument placements during the quarter. We are particularly excited about the new Primus Rapid Gel product which is currently awaiting FDA approval. We expect that this approval will be granted in Quarter 2, 2006 and will enable the Company to compete in the US$200 million point of care HbA1c market. "Our revenues have increased US$4.16 million from US$22.71 million last quarter to US$26.88 million this quarter. Approximately 50% of this increase is due to our acquisition of Primus with the other 50% reflecting an excellent 8% organic growth over the three month period. With operating profits of US$2.15 million in the quarter we have returned to the levels of profit achieved by the Company prior to the huge investment in our sales and marketing effort in the US during 2004. Given the growth being experienced in all product areas we are confident of continuing this trend in profitability in coming quarters. "In September the directors acquired a total of 4,501,675 Ordinary Shares (1,125,419 ADR's) in the Company through a combination of 1,954,800 Ordinary Shares purchased on the open market and 2,546,875 share options exercised. The Directors believe that these transactions reflect the confidence and belief that the senior executives and Board of the Company have in the future of Trinity Biotech." 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 develops, acquires, manufactures and markets over 500 diagnostic products for the point-of-care and clinical laboratory segments of the diagnostic market. The broad line of test kits are used to detect infectious diseases, sexually transmitted diseases, blood coagulation disorders, and autoimmune diseases. Trinity Biotech sells worldwide in over 80 countries through its own salesforce and a network of international distributors and strategic partners. For further information please see the Company's website: www.trinitybiotech.com.