Trio-Tech International Inc. swung to a profit in its fiscal fourth quarter even as delays in shipments of its semiconductor-testing equipment reduced revenue. The Van Nuys semiconductor-testing and services company announced on Friday net income of $46,000 (1 cent a share) for the quarter ended June 30, compared with a net loss of $578,000 (-17 cents) in the same period a year earlier. Revenue decreased 23 percent to $8.5 million. Chief Executive SW Yong said the company has been working on saving money, highlighted by terminating its fabrication facilities lease in December. “The positive impact of our program to streamline our operations and control costs was clearly evident in our financial performance for the 2103 fourth quarter and fiscal year, as gross margin improved, operating costs decreased and operating earnings rose,” he said in a prepared statement. For the fiscal year, the company reported a net loss of $1 million (-31 cents a share), compared with a net loss of $3,100,000 (-94 cents) in the same period a year earlier. Revenue for the year increased 2 percent to $31.8 million. The company’s core business is building and selling semiconductor-test equipment. In 2011, the company expanded into making parts used on oil and natural-gas drilling rigs.
