Trio-Tech International is a diversified business group pursuing interests in semiconductor test and manufacturing, oil and gas equipment fabrication, solar products and real estate. Yesterday, the company announced results for its fiscal year and the fiscal fourth quarter of 2010. Revenues for the fiscal year ended June 10, 2010, increased 85% to $36,928,000. Net income was $0.11 per shares versus a loss of $0.46 a share last year.
Revenue for the fourth quarter of fiscal 2010 tripled $12,874,000 compared to $4,328,000 in the same period of fiscal 2009. Net income for the quarter was $323,000 compared to a loss of $683,000 for the same quarter last year. Revenue from product sales quadrupled to $8,865,000 for the fourth quarter of fiscal 2010 compared to $2,188,000 a year earlier.
Trio-Tech’s quarterly results were primarily the result of higher sales of the company’s proprietary semiconductor test equipment products, extending a trend begun late last year. Revenues from the testing services segment for the fourth quarter of fiscal 2010 increased to $3,748,000 compared to $2,071,000 a year earlier.
The company’s manufacturing segment backlog was a strong $7,181,000 compared to just $1,194,000 at June 30, 2009 while its testing services backlog rose to $618,000 from $345,000. These figures will provide a solid foundation for Trio-Tech as it enters a new fiscal year. The company is spending $5.5 million over the next two years to expand its Malaysian manufacturing facility to support a major existing customer in China.
For more information on Trio-Tech, please visit its website at www.triotech.com.
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