Trio-Tech Reports Boost in 4th-Quarter Earnings

Trio-Tech International, a San Fernando-based producer of semiconductor testing equipment, reported earnings of $489,000 for its fiscal fourth quarter that ended June 24. In the same quarter a year ago, the company posted a loss of $6,000.

Revenue in the latest quarter was $4.33 million, compared with year-earlier revenue of $3.62 million. For the year that ended June 24, Trio-Tech reported $2.04 million in income on revenue of $15.2 million, compared with year-earlier income of $103,000 on $15.7 million in revenue.

Trio-Tech attributed the improved results to streamlined operations, including trimming of the company’s U. S. work force from 45 employees to 30. Trio-Tech has 587 employees worldwide, with operations in Europe and Asia.

The company, which manufactures equipment used to test the quality and reliability of semiconductors, also announced that it will complete a 1-for-4 reverse stock split Oct 13. After the reverse split, the number of outstanding common shares will be reduced from 4.61 million to about 1.15 million.