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Tuesday, Oct 3, 2023

Trio-Tech Narrows Quarterly Loss

Trio-Tech International Inc. said Monday it narrowed its fiscal first quarter loss, the result of cost cutting and improvement in its core semiconductor test equipment business. The Van Nuys manufacturer reported a net loss of $17,000 (1cent a share) for the quarter ended Sept. 30, compared with a loss of $804,000 (24 cents) in the same period a year earlier. Revenue increased 11 percent to $9.7 million. Trio-Tech has made moves in recent years to diversify its business away from a heavy reliance on building and selling semiconductor test equipment. In 2011, the company expanded into making parts used on oil and natural-gas drilling rigs. That oil and gas fabrication business, however, has not fared well financially. For the first quarter, it brought in revenue of $172,000 compared to the $2.3 million a year earlier. The test equipment business, by contrast, saw revenue rise 81 percent to $5.6 million. Shares gained 14 cents, or 10 percent, to close at $1.50 on the New York Stock Exchange.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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