Trinity Biotech plc Announces Executive Changes; Proposes Annual Dividend for 2015; Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
The company is proposing a annual dividend of 22 cents per ADR (5.5 cents per 'A' ordinary share), which is consistent with the dividend paid in 2014. The payment of this dividend is subject to shareholder approval, which will be sought at the company's forthcoming AGM to be held on June 5, 2015. Subject to this approval being granted, the record date will be June 9, 2015 and payment will follow approximately 3 weeks later.
The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of $25,240,000 compared to $25,025,000 a year ago. Operating profit was $4,335,000 compared to $4,504,000 a year ago. Profit before tax was $4,312,000 compared to $4,527,000 a year ago. Profit for the period was $4,008,000 compared to $4,413,000 a year ago. Diluted earnings per ADR were 17.0 cents compared to 18.2 cents a year ago. Cash generated from operations was $1,976,000 compared to $781,000 a year ago. Capital expenditure & financing (net) was $4,113,000 compared to $5,042,000 a year ago. Negative free cash flow was $2,245,000 compared to $4,259,000 a year ago. Excluding this currency effect, revenues would have increased to $26.4 million, representing an increase of 6%.