Trio-Tech Third Quarter Revenue Nearly Triples To $10.8 Million
Driven by higher sales in each of the company's businesses, Trio-Tech International (AMEX:TRT) announced today that revenue for the third quarter ended March 31, 2010 increased 195% to $10,771,000 compared to $3,651,000 for the third quarter of fiscal 2009, and 74% compared to $6,190,000 for the second quarter of fiscal 2010. The net loss from continuing operations attributable to Trio-Tech International's common shareholders for this year's third quarter was $142,000, or $0.04 per share, compared to a net loss from continuing operations for the third quarter of fiscal 2009 of $138,000, or $0.04 per share, and narrowed from the net loss for this year's second quarter of $557,000, or $0.17 per share.
Net sales in the company's manufacturing segment increased more than fourfold to $7,384,000 for the third quarter of fiscal 2010 compared to $1,673,000 for the same period of the prior year, reflecting sharply higher sales of semiconductor test equipment products, as well as revenue of $848,000 from TT Solar, the company's new Singapore-based solar energy products and services business. "We believe that demand for our semiconductor test equipment continued to benefit from the recovery of the global semiconductor market that became evident late last year. Results also benefited from the strong performance of TT Solar in its first full quarter of operations and, in view of the Singapore government's commitment to expanding investment in green technologies, we are hopeful about TT Solar's future growth," said SW Yong, Trio-Tech's CEO.
Revenue from the testing segment increased to $2,854,000 for this year's third quarter compared to $1,842,000 for the third quarter of fiscal 2009, as an increase in capacity at the company's facility in Malaysia enabled it to accept more orders from a major customer. Revenue at PT SHI Indonesia, a Batam-based manufacturer, equipment fabricator and provider of project management services for the oil and gas industries which Trio-Tech acquired earlier this fiscal year, was $101,000 for this year's third quarter.
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