Trio-Tech Profits Plunge to $188,000 in 2nd Quarter

Trio-Tech International, a San Fernando maker of test equipment for semiconductors, said its profit fell 88% in the second fiscal quarter that ended Dec. 30 to $188,000 compared to a profit of $1.62 million in the same period a year earlier. Second-quarter revenues were $5.78 million, up 70% from $3.4 million.

For the six months, Trio-Tech’s profit was $223,000 compared to a profit of $1.65 million a year earlier. Revenues were $9.8 million, up 34% from $7.3 million in the first six months of the previous year.

The company said the results a year earlier included an extraordinary gain of $1.78 million due to debt restructuring in the second quarter.

Trio-Tech’s current long-term debt is $798,000 versus $4 million prior to the restructuring, said Trio-Tech Controller Dale Cheesman.

The company made a profit in the last two quarters due to strong sales of its testing equipment, particularly in the United States and Ireland. Over the past two years, the company has shifted from supplying the U.S. military to manufacturing products for industry, mostly in Southeast Asia, Cheesman said.

Trio-Tech makes machines that spin computer chips to test their endurance. Its customers include Motorola and Intel Corp.