Boston, MA 10/09/2014 (wallstreetpr) – Trio-Tech International (NYSEMKT:TRT) reported the results of the fourth quarter and fiscal2014.The revenues in 4Q2014 came rose 10.2% compared to the same period a year ago. The net income came at $0.07 per share comparable to $0.01 per share in 4Q2013. The revenue of Trio-Tech for the year rose 14.1% compared to a year ago. The net income rose to $0.01 compared to a loss of $0.31 per share for FY13.
Fourth quarter financial performance
The revenue of Trio-Tech International (NYSEMKT:TRT) came at $9,387,000 compared to $8,516,000 in 4Q2013. The products revenue came at $4,573,000 compared to $4,536,000 in 4Q2013. The semiconductor testing services revenue came at $4,773,000 compared to $3,944,000 in 4Q2013. The gross margin rose to 24.0% of revenue compared to 20.2% of revenue in 4Q2013. The operating expenses rose to $2,158,000 compared to $1,620,000 a year ago. The income from operations came lower at $96,000 compared to $97,000 a year ago.
Twelve months financial performance
The fiscal year 2014 revenue of Trio-Tech International (NYSEMKT:TRT) came at $36,262,000 compared to $31,770,000 for FY13. The products revenue came at $18,068,000 compared to $16,609,000 in fiscal year 2013.The revenues from semiconductor testing services came at $18,017,000 compared to $15,029,000 for FY13. The gross margin rose to $8,299,000 comparable to $6,351,000 for fiscal 2013. The operating expenses rose to $8,301,000 compared to $7,212,000 for fiscal 2013.
Management view
S.W. Yong, the CEO of Trio-Tech International (NYSEMKT:TRT), said that the company is on the right track. The revenue in the fourth quarter and fiscal year rose comparable to the same periods last year. There was improvement in gross margin and net income. Trio-Tech focus remains on the core business and wants to improve its main operations. The semiconductor testing services and manufacturing equipment segments are doing well and generating solid margins. The segments are also offering a broad menu of services and products to meet the demand of international customers.
