| Back to Press Releases Trinity Biotech Announces Second Profitable Quarter Dublin, Ireland, Nov. 4, 1996 P.R. Newswire. Trinity Biotech plc (NASDAQ TRIBY) today announced a profit for the second consecutive quarter ended September 30, 1996. Net income for the quarter was $16,000 or $.001 per share, compared to a loss of $60,000 or $.006 per share for the comparable year-ago period. Revenues for the quarter were $1,925,000 up from $1,497,000 for the second quarter of this year. This increase is due to increased sales of the company's HIV tests in addition to increased orders form the company's OTC pregnancy test customer following the timing differences which had reduced sales to this customer in the first two quarters. The Company expects that revenues will continue to increase for the remainder of the year. Trinity continues to be profitable despite adverse exchange conditions, increased spending in R & D and restructuring costs arising out of the company's recent relocation of it's US operations from California to New Jersey. Commenting on the results, Jonathan O'Connell, Chief Financial Officer said "This is our second consecutive profitable quarter. We continue to build on the success of the previous quarters. Trinity is profitable despite a significant level of R & D spending. This investment in our future is producing the basis of future significant revenue growth. Trinity has launched 5 new products in 1996 and anticipates more before year end and into 1997. Revenues from these new products will enhance profitability in 1997. Trinity continues to be in a very strong financial position, with no debt and $7.7 million in cash and short term investments". Consolidated Statement of Operations (In U.S. Dollars)
Sept 30, 1996 Dec. 31, 1995
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