Trinity Biotech Results Miss Estimates; Stock Down

(RTTNews) - Trinity Biotech plc (TRIB) on Tuesday reported second-quarter net income of $2.7 million or 9.9 cents per share compared with $4.3 million or 18.2 cents per share a year ago.

Revenues for the quarter fell to $24.3 million from $26 million last year. Excluding the impact of foreign exchange movements, revenues would have been $25.4 million.

Analysts polled by Thomson Reuters expected earnings of 14 cents per share on revenues of $26.2 million for the quarter.

Gross margin for the quarter fell to 47% from 48.1% last year.

Trinity Biotech makes diagnostic products for the point-of-care and clinical laboratory markets.

TRIB was trading at $16.23, down $1.96 or 10.78%, on the Nasdaq.