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Thursday, Dec 8, 2022
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Test Program Phase Out Leads To Net Loss

The phase out of a semiconductor test program overseas contributed to Trio-Tech International posting a net loss in its third quarter. The Van Nuys-based firm reported a net loss of $1.4 million, or $0.44 per diluted share, on revenues of $8.4 million for the quarter ending March 31. For the same period in 2007, the company posted net income of $1.08 million, or $0.33 per diluted share, on revenues of $13.6 million. The company has taken aggressive steps to cut costs as it phases out a test program at facilities in Singapore and China, including layoffs and reducing executive salaries, said CEO S.W. Yong. “At the same time, our efforts to win new business with existing and new customers are meeting with some success, which is another encouraging sign for the future,” Yong said.

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