Net Loss for Trio-Tech in Q3

Lower sales to a major customer contributed to Trio-Tech International reporting a net loss for the third quarter when compared to the same period last year. The Van Nuys-based supplier of semiconductor test and manufacturing equipment had a net loss of $462,000 or $0.14 per diluted share for the quarter ending March 31. For the same period in 2010, the company had net income of $19,000, or $0.01 per diluted share. Revenues for the third quarter were $5.8 million, a decrease from the $10.8 million in revenues from the third quarter of 2010. The company attributed the drop to selling less test equipment to a major customer it did not name. Trio-Tech started testing operations at it new facility in Tianjin, China in the third quarter, while in the second quarter expanded its Malaysia testing operation with new equipment, said company CEO SW Yong. “We absorbed significant costs at these facilities in the third quarter, prior to achieving higher testing revenue which we anticipate over the next few quarters,” Yong said. Mark R. Madler