Trio-Tech’s 1st Quarter Earnings Decrease 50%
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A slowdown in the semiconductor industry contributed to a drop of more than 50% in first-quarter earnings for Trio-Tech International, a San Fernando-based company that makes machines that test computer chips for endurance.
Net income for the first quarter of fiscal year 1999, which ended Sept. 25, was $101,000, or 4 cents per diluted share, based on 2.8 million shares outstanding. In the year-ago period, earnings were $211,000, or 10 cents per diluted share, based on 2 million shares. The increase in diluted shares stems from an equity offering in November 1997 that netted $3.3 million.
Company executives said higher revenue in the firm’s semiconductor test equipment distribution business offset lower revenue from testing services.
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