Trinity Biotech Plc (TRIB) Q1 2024 Earnings Call Transcript | Old North State Wealth News
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Trinity Biotech plc (TRIB) Q1 2024 Earnings Call Transcript

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Trinity Biotech plc (NASDAQ:TRIB) Q1 2024 Results Conference Call May 23, 2024 8:30 AM ET

Company Participants

Eric Ribner – Investor Relations
John Gillard – Chief Executive Officer
Des Fitzgerald – Chief Financial Officer

Conference Call Participants

Jim Sidoti – Sidoti & Company

Operator

Greetings, and welcome to the Trinity Biotech First Quarter 2024 Earnings Call.

[Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Eric Ribner, Investor Relations for Trinity Biotech. Thank you. You may begin.

Eric Ribner

Thanks very much. Before we begin, please note that statements made during this presentation may be deemed forward-looking statements within the meaning of federal securities law. These statements are subject to known and unknown risks and uncertainties that may cause actual events to differ from those expressed or implied in such statements. These risks include, but are not limited to, those set forth in the risk factor statement in the company’s annual report on Form 20-F filed with the Securities and Exchange Commission. Trinity Biotech undertakes no obligations to publicly update or revise these forward-looking statements to reflect events or circumstances after today or the occurrence of unanticipated results.

And with that, I will turn it over to John Gillard, CEO of Trinity Biotech.

John Gillard

Good morning, everyone, and thank you for joining today’s call. We appreciate your interest in the company. This quarter, we are pleased to report significant advances are being made across our entire business. We are growing our revenue base while, at the same time, delivering higher profit margins.

We had almost 40% quarter-on-quarter revenue growth in Point-of-Care revenues driven by the successful scaling of rapid HIV test output. This was accompanied by a 360 basis point improvement to gross margins quarter-over-quarter.

We

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