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Sunday, May 28, 2023

Trio-Tech Again Narrows Quarterly Loss

Trio-Tech International Inc. narrowed its fiscal second quarter loss, the result of higher sales and cost-cutting measures, the company announced Thursday. The Van Nuys manufacturer reported a net loss of $506,000 (-15 cents a share) for the quarter ended Dec. 31, compared with a loss of $1.2 million (-36 cents) in the same period a year earlier. Revenue increased 11 percent to $7.4 million. The company’s core business is building and selling semiconductor test equipment. In 2011, the company expanded into making parts used on oil and natural-gas drilling rigs. “Our core operations performed well in the second quarter, and our cash position is improving,” said Chief Executive S.W. Yong in a statement. “We are optimistic about the outlook for our testing business, especially in China.” Shares fell 9 cents, or 4.5 percent, to close at $1.90 on the New York Stock Exchange.

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