Revenues at Irish medical diagnostic firm Trinity Biotech rose by 10.6 per cent last year, the company said today.
The company said revenues increased from $82.5 million to $91.2 million for the 12 months ended December 31st.
Operating profit grew by 4.1 per cent from $17.2 million to $17.9 million over the same period. This represents an operating margin of 19.6 per cent.
Point-of-care revenues increased by over 3 per cent from $19.2million in 2012 to $19.8million in 2013 on the back of HIV medicine sales in Africa.
Clinical Laboratory revenues grew by almost 13 per cent from $63 millon to $71 million as a results of higher diabetes medicine sales as well as increased sales of infectious diseases products in China. The acquit ion of Immco Diagnostics and the blood bank screening business of Lab21 Limited made during the year also helped bolster revenues.
Revenues were partly offset by lower Lyme sales due to the impact of adverse weather conditions in the US, particularly in the first half of 2013.
Earnings before interest, tax, depreciation, amortisation and share option expense for the year increased from $21.7million to $23.5 million.
Trinity Biotech develops, acquires, manufactures and markets diagnostic systems, including both reagents and instrumentation, for the point-of-care and clinical laboratory segments of the diagnostic market.
The company said total fourth quarter revenues were $25.5million, up 22.2 per cent on the $20.8 million recorded a year earlier.
Point-of-Care revenues for the quarter increased by 4.4 per cent when compared to the same three-month period in 2012.
Clinical Laboratory revenues increased from $16million to $20.4million during the quarter, which represents an increase of 27.7 per cent year-on-year.
Gross margin for the quarter was 50.4 per cent, unchanged from a year earlier.
Operating profit was over $5.m, which represents an increase of approximately 15 per cent over the $4.4million reported for the fourth quarter of 2012. The operating margin for the quarter was 19.8 per cent.
Profit before tax increased from $4.9million to $5.2million, while profit after tax increased from $4.5million to $4.8million.
