Trio-Tech International had higher earnings and revenue for its second quarter of fiscal year 2011 compared to the same quarter a year ago due to stronger product sales and better performance in its testing services and real estate segments. For the fiscal quarter ending Dec. 31, the company had net income of $187,000, or $0.05 per diluted share, on revenue of $9.5 million. That shows improvement from the same quarter the previous year when the company had a net loss of $369,000, or $0.11 per share, on revenue of $6.2 million. Revenue from product sales increased to $5.5 million for the second quarter of fiscal year 2011, up from $3.1 million for the same period the previous year. The increase was primarily the result of higher sales of the company’s proprietary semiconductor test equipment products. The company’s testing services revenue increased to $3.2 million for the most recent second quarter, up from $2.6 million for the second quarter of fiscal year 2010. Revenue from the company’s real estate segment increased to $772,000, up from $260,000 the year before. Meanwhile, the company’s oil and gas equipment fabrication revenue decreased to $93,000 for the most recent second quarter, down from $200,000 the year before. “We are making steady progress in the implementation of our two-pronged strategy for growth,” said S.W. Yong, Trio-Tech’s CEO. “Our core semiconductor test equipment and services business posted another strong quarter, and our financial results also benefited substantially from developments at one our new business initiatives, real estate, that are a key element of our long-term growth plan.” During the second quarter of fiscal year 2011, Trio-Tech completed the expansion of its Malaysia testing operation, which included the purchase of additional plant and equipment. The expansion was made in order to grow the company’s production capacity in anticipation of capturing increased order volume from a major customer.
Trio-Tech International Has Higher Earnings in Quarter
