Demand in Asia and China more than doubled Trio-Tech International’s (AMEX: TRT) 2007 third-quarter revenue – reported at $13.6 million, up from $6.5 million in 2006; after a continuous climb throughout the day, company shares closed at $21.47, up 32 percent, or $5.21.
Trio-Tech reported net income of $1.1 million, or 33 cents per share, as compared to $174,000, or 5 cents per share, for the same period the prior year.
The company attributes the growth to its investments and presence in the eastern markets.
“Our newest facility in Suzhou, China, which began testing operations in this year’s second quarter, contributed to the improvement in third quarter results. Conditions in both our product sales and testing service segments remain favorable, and we are optimistic that we are building a strong foundation to support Trio-Tech’s long-term growth,” CEO S.W. Yong said, in a press release.
Trio-Tech was founded in 1958 to provide third-party semiconductor testing and burn-in services through its laboratories in Southeast Asia. The company designs, manufactures and markets the equipment utilized in testing and producing semiconductors – it then distributes those semiconductors.
Spokesmen for Trio-Technology are not available until next week – MN1 will continue to follow the company’s progress and follow up with a story.
