A round-up of today's other stories in brief.
Trinity Biotech profits up 135%
First-quarter profits at clinical diagnostics group Trinity Biotech soared by 135 per cent to $2.9 million (€2.13 million).
Revenues in the three months to the end of March grew by 48.5 per cent to $36.7 million from $24.7 million in the same period a year earlier. The increase was driven by a 138 per cent jump in revenue from the group's haemostasis division to €16.2 million.
Chief financial officer Rory Nealon said the integration of the the group's bioMerieux haemostasis acquisition was proceeding well, with all sales, marketing and service activities now fully transferred to Trinity.
He added that the first batches of bioMerieux product will be manufactured in quarter three as anticipated.
Microsoft profits up 65%
Microsoft posted a forecast-beating 65 per cent rise in quarterly profit last night, boosted by revenue booked on discounted licence upgrades for its new Windows Vista operating system and Office 2007 software.
In results released after US markets closed yesterday, Microsoft posted a net profit of $4.93 billion (€3.62 billion), or 50 US cents per diluted share, in its fiscal third quarter to March 31st versus a profit of $2.98 billion, or 29 cents per share, in the year-ago period. Revenue rose 32 per cent to $14.4 billion. Microsoft expects Vista and Office 2007, the latest versions of its two flagship products, to underpin earnings. - (Reuters)
PlayStation founder retires
Ken Kutaragi, the maverick engineer behind all three generations of PlayStation consoles, announced his retirement yesterday in a move likely to be seen as a reaction to the lacklustre sales of the PS3. Mr Kutaragi, who will leave his post in June, was sidelined from the day-to-day management of Sony Computer Entertainment in December when he was appointed chairman and chief executive.
At that time, Kazuo Hirai was named global president and chief operating officer. Yesterday he was promoted to group chief executive. - (Financial Times service)
US and EU to set up council
The US and European Union are to set up a new transatlantic economic council to oversee the dismantling of regulatory barriers that impede the world's biggest trading relationship.
Günter Verheugen, EU enterprise commissioner, will co-chair the new body, which will draw up targets and produce twice-yearly reports on progress in what both sides claim will be a beefed-up deregulatory push. - (Financial Times service)
Ex-candidate evaded tax
A former Independent county council candidate has received an 18-month suspended sentence arising out of VAT evasion which has left him €562,000 in arrears with the Revenue.
Edward Colfer (62), Beechbrook Park, Kilmuckridge, Co Wexford was charged with 12 counts of failing to remit VAT between 1999 and 2001 and two counts of delivering incorrect income tax returns in that period. Colfer pleaded guilty at Wexford Circuit Criminal Court to all counts.
