Trio-Tech International (TRT) has reported a 63.16 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $0.31 million, or $0.09 a share in the quarter, compared with $0.19 million, or $0.05 a share for the same period last year.

Revenue during the quarter grew 8.98 percent to $9.10 million from $8.35 million in the previous year period. Gross margin for the quarter contracted 12 basis points over the previous year period to 25.20 percent. Total expenses were 96.95 percent of quarterly revenues, up from 96.07 percent for the same period last year. That has resulted in a contraction of 87 basis points in operating margin to 3.05 percent.

Operating income for the quarter was $0.28 million, compared with $0.33 million in the previous year period.

S.W. Yong, Trio-Tech's chief executive officer , said, "Revenue increased for each of Trio-Tech's businesses in the second quarter of fiscal 2017, compared to the second quarter of fiscal 2016. Semiconductor testing services delivered double digit revenue growth, compared to the second quarter of fiscal 2016, increasing in all regions except for our China operations. This strength was also reflected in our distribution segment, which continues to achieve strong double digit sales gains, primarily due to higher demand from our Asia customer base. "Selling, general and administrative expenses increased during the quarter compared to the second quarter of fiscal 2016, reflecting the Company's efforts to expand sales of manufactured products and testing services." Yong added that net income for this year' second quarter benefitted from a foreign exchange gain, compared to a foreign exchange loss in the second quarter of fiscal 2016. "We remain cautiously optimistic for the remainder of the fiscal year," Yong concluded.