74.9 F
San Fernando
Saturday, Feb 4, 2023

Earnings: Trio-Tech, Research Solutions

Trio-Tech International Inc. swung to a profit in fiscal second quarter results reported Tuesday even as customers reduced capital spending for facility and equipment upgrades. The Van Nuys semiconductor testing service and equipment manufacturer posted net income of $94,000 (3 cents a share) for the quarter ended Dec. 31, compared with a net loss of $365,000 (-10 cents) in the same period a year earlier. Revenue decreased by 5 percent to $8.9 million. A 19.5 percent decline in sales of testing products to $3.8 million dragged down results, despite a 10.4 percent increase in semiconductor-testing service revenue. “Trio-Tech’s semiconductor test equipment business remains subject to fluctuations in our customers’ capital spending requirements, but we see a variety of opportunities to build this business for the long term,” said Chief Executive S.W. Yong in a prepared statement. Shares closed up 2 cents, or less than 1 percent, to $2.87 on the New York Stock Exchange. Research Solutions Inc. reported slimmer losses in the second quarter on Tuesday. The Encino company, which provides articles from scientific journals to researchers, reported a net loss of $96,714 (-1 cent a share) for the fiscal second quarter ended Dec. 31, compared to a loss of $467,105 (-3 cents) for the same quarter a year ago. Revenue grew 7 percent to $7.9 million. No analysts follow the company. The company said revenue growth stemmed from its acquisition of new customers, who are using its Article Galaxy website to solicit scientific literature. “Despite the typical seasonality in our fiscal second quarter, when revenues dip sequentially due to lower customer activity during the holiday season, our revenue per Article Galaxy customer held steady,” Chief Executive Peter Derycz said in a statement. No shares traded hands Tuesday on the over-the-counter market.

Featured Articles

Related Articles