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Trio-Tech Net Income Grows

Trio Tech International Inc. improved in its net income during its fiscal fourth quarter even though revenue decreased slightly. The Van Nuys semiconductor testing service and equipment manufacturer reported Monday net income of $405,000 (10 cents a share) for the quarter ended June 30, compared with a net income of $231,000 (7 cents) in the same period a year earlier. Revenue decreased by 10.5 percent to $8.4 million. No analysts follow the company. For the full 2015 fiscal year, Trio-Tech reported net income of $824,000 (15 cents a share), compared with $201,000 (1 cent) in the prior fiscal year. Revenue increased a fraction of a percent to $18 million. Chief Executive S.W. Yong said the financial results reflect improving operating efficiency and keeping a lid on operating costs. “We believe our improved bottom-line performance for fiscal 2015 versus prior year shows that our efforts to deliver value for our shareholders are meeting with success,” Yong said in a prepared statement. Shares closed down 6 cents, or 2.3 percent, to $2.35 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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