Trinity Biotech plc (NASDAQ:TRIB) Q2 2022 Earnings Call Transcript

Paul Nouri : I appreciate all the insight on that. And then just one technical finance question. Inventories, I think, for the company have historically been at a high level. And I think my understanding of it was that it was mostly related to Fitzgerald and them needing to have a lot of inventory on hand, a lot of different types of inventory on hand. Is that still the case? And is the current inventory level where you would expect it to remain approximately in coming quarters?

John Gillard : Paul, I think it’s not just down to Fitzgerald, right? So given the supply chain challenges that everyone, not just us have had over the last 12, 18 months, we made a — we made a decision to increase our safety stock levels for many of our inventory items, especially in our hemoglobin business. We had significant supply chain challenges. We typically overcome them, but they can be quite a distraction, okay? So we need to be able to produce when our customers and when ultimately the patients need our product. So for that reason, we’ve made a decision to increase levels of safety stock. So that’s the main driver, I suppose, of that high level. And I’d expect that to maintain in around the same place.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Aris Kekedjian for closing remarks.

Aris Kekedjian : Well, look, thank you for attending my first earnings call. I thought your questions were very, very insightful, and I appreciate it. We will actually be back to you fairly soon to do our third quarter update. And I promise you that we’ll be on a more regular schedule going forward. So stay tuned. We look forward to talking to you in a few weeks’ time, and I think we have a link on our website to the Piper conference. So that will be live streamed and we’ll provide the presentation online. So with that, thank you for the time and enjoy the rest of the week.

John Gillard : Thanks, everybody.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.