Trinity Bio ADR Down 2.61% To $0.68 After Earnings Miss

Trinity Bio ADR (TRIB) said before open Tuesday that it lost $0.16 per share in quarter two 2023.

On the revenue line, the company reported $13.9 million, beating estimates by $398 thousand.

In the same quarter a year ago, the company lost $0.29 per share on revenue of $18.5 million.

The stock is down 2.61% to $0.68 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Trinity Bio ADR has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 10, putting Trinity Bio ADR in the bottom 25% of stocks. The firm was recently trading at a 52-week low of $0.63 on July 6, 2023 and set a 52-week high on November 10, 2022 at $1.41.

Trinity Biotech PLC is in the business of development, manufacturing, and marketing clinical diagnostic products for clinical laboratory and point of care sections of the diagnostic market. Its products are used to detect autoimmune, infectious, sexually transmitted diseases, diabetes, and disorders of the liver and intestine. The company also provides raw materials to the life sciences and research industries globally. It markets products under the brand names Recombigen, Unigold, MarBlot, Mardx, Premier, Immublot, EZ, Capita, and others. Geographically, it has two segments namely the Americas, and Ireland of which it derives a majority of its revenues from the Americas segment.