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San Fernando
Friday, Feb 3, 2023
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Shutting Test Plants Leads to Loss for Trio-Tech

The closing of semiconductor testing facilities in China contributed to Trio-Tech International posting a net loss in the second quarter. The Van Nuys-based company consolidated its testing and burn-in operations to Singapore and Malaysia facilities, cutting employees and executive salaries in the process. If not for the write-off of the China assets, the company’s financial performance would have improved over the first quarter, said Trio-Tech CEO S.W. Yong. “Given the historically weak conditions we face in the global semiconductor and electronics industries, we believe that this is a creditable performance,” Yong said. Trio-Tech reported a net loss of $426,000, or $0.13 per diluted share, on revenues of $5.6 million for the quarter ending Dec. 31. For the same period in the previous year, the company had a net income of $165,000, or $0.05 per diluted share, on revenues of $12.9 million. In January, Trio-Tech said it would purchase for $3.6 million property it had been leasing for its testing operations in Malaysia. The company paid a down payment of $361,000 and will use a loan and its own fund to pay the balance. Mark R. Madler

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