FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarter Ended December 27, 1996
Commission File Number 0-13914
TRIO-TECH INTERNATIONAL
(Exact name of Registrant as specified in its Charter)
California 95-2086631
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number
355 Parkside Drive, San Fernando, California 91340
(Address of principle executive offices) (Zip Code)
Registrant's Telephone Number: 818-365-9200
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed with the Commission by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months, (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days.
YES X NO
As of January 24, 1997, the Registrant had outstanding approximately 1,282,920*
Shares of Common Stock.
* See PART II. OTHER INFORMATION, ITEM 2 in connection with a one-for-
four reverse stock split, whose effective date of record was October
13, 1994.
This document contains a total of 8 pages.
<PAGE>
<TABLE>
<CAPTION>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
TRIO-TECH INTERNATIONAL
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(In Thousands)
Dec. 27 Jun. 28,
1996 1996
<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash $ 863 $ 2,114
Certificates of deposit 5,060 3,114
Accounts receivable - net 4,049 4,783
Notes & other receivables 425 179
Inventories 1,779 1,430
Prepaid expenses 305 140
Total current assets 12,481 11,760
PROPERTY, EQUIPMENT AND CAPITALIZED LEASES, NET 4,521 5,330
OTHER ASSETS 283 326
TOTAL ASSETS $ 17,285 $ 17,416
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Notes payable $ 101 $ 245
Accounts payable 1,336 1,813
Accrued expenses 3,692 4,032
Income taxes payable 1,773 1,598
Current portion of long-term debt and
capitalized leases 155 481
Total current liabilities 7,057 8,169
LONG-TERM DEBT AND CAPITALIZED LEASES,
Net of current portion 652 688
DEFERRED TAXES 774 771
MINORITY INTEREST 3,041 2,581
SHAREHOLDERS' EQUITY:
Common stock; authorized, 2,500,000 shares;
issued and outstanding, 1,282,920 shares at
December 27, 1996, and 1,205,804 shares at
June 28, 1996 stated at 5,040 4,878
Accumulated deficit (964) (1,336)
Cumulative currency translation 1,685 1,665
Total shareholders' equity 5,761 5,207
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,285 $ 17,416
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(In Thousands, except Earnings per Share Data)
SIX MONTHS ENDED THREE MONTHS ENDED
DEC. 27, DEC. 29, DEC. 27, DEC. 29,
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Revenues $ 11,035 $ 11,322 $ 5,419 $ 5,591
Cost of revenues 6,814 7,084 3,492 3,365
Gross profit 4,221 4,238 1,927 2,226
Selling, general &
administrative expenses
2,778 2,761 1,362 1,486
SIX MONTHS ENDED THREE MONTHS ENDED
Income from operations 1,443 1,477 565 740
Other income (expense):
Interest expense (62) (76) (27) (35)
Other income (expense) 315 449 189 265
Total 253 373 162 230
Income before income taxes and
minority interest 1,696 1,850 727 970
Income taxes 672 743 251 383
Income before minority interest 1,024 1,107 476 587
Minority interest (653) (789) (274) (389)
Net income $ 371 $ 318 $ 202 $ 198
Earnings per share:
Primary $ 0.29 $ 0.25 $ 0.16 $ 0.16
Fully diluted $ 0.29 $ 0.25 $ 0.16 $ 0.16
Weighted average number of
shares outstanding:
Primary 1,286 1,268 1,292 1,262
Fully diluted 1,291 1,276 1,293 1,248
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In Thousands)
SIX MONTHS ENDED
Dec. 27, Dec. 29,
1996 1995
<S> <C> <C>
Cash flows from operating activities:
Net income $ 371 $ 318
Adjustments to reconcile net income to
Cash provided by operations:
Depreciation and amortization 709 798
Loss on disposal of property and equipment 69
Effect of exchange rate changes on
Operating assets 11 (234)
Changes in assets and liabilities:
Accounts receivable, net 734 (1,050)
Notes and other receivables (246) 23
Inventories (349) (284)
Prepaid expenses & other current assets (165) (39)
Other assets 6 39
Accounts payable and accrued expenses (642) 2,034
SIX MONTHS ENDED
Deferred taxes 3 (19)
Net cash provided by operating activities 501 1,586
Cash flows from investing activities:
Certificates of deposit (1,925) (1,353)
Capital expenditures, net (268) (486)
Minority interest 507 922
Purchase of investment (21) 0
Net cash used in investing activities (1,707) (917)
Cash flows from financing activities:
Payments on notes payable and lines of
credit (220) (219)
Borrowings under notes payable 77 0
Proceeds from long-term debt and
capitalized leases (196) 159
Principal payments of long-term debt
capitalized leases (182) (116)
Issuance of common stock 162 36
Net cash used in financing activities (359) (140)
Effect of exchange rate changes on cash 314 (218)
Net (decrease) increase in cash (1,251) 311
Cash, beginning of the period 2,114 674
Cash , end of the period $ 863 $ 985
SIX MONTHS ENDED
Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest $ 67 $ 57
Income taxes $ 446 $ 76
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
TRIO-TECH INTERNATIONAL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1. Basis of Presentation
The interim financial statements as of December 27, 1996, and for the six-months
ended December 27, 1996, are unaudited. In the opinion of management, the
unaudited financial statements include all adjustments necessary, consisting of
normal recurring accruals, for a fair presentation of such information. Certain
reclassifications of prior year amounts have been made to conform to the current
year financial statement presentation.
The consolidated results of operations for the six-month periods ending December
27, 1996 and December 29, 1995, are not necessarily indicative of the results
expected for a full year.
NOTE 2. Inventories
The composition of inventories is as follows (in thousands):
Dec.27, June 28,
1996 1996
Raw materials $ 698 $ 640
Work in process 407 294
Finished goods 674 496
$ 1,779 $ 1,430
NOTE 3. Other Assets
The composition of other assets is as follows (in thousands):
Dec.27, June 28,
1996 1996
Cost in excess of net assets
acquired, net of accumulated
amortization $ 192 $ 228
Other assets 91 98
$ 283 $ 326
NOTE 4. Common Stock
In October, 1994 the Board of Directors approved a one-for-four reverse stock
split. Common stock and stock options have been retroactively adjusted for the
split.
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
1. Liquidity and Capital Resources
The Company's working capital improved $ 1,833,000 during the first two
quarters. This is due to increases in inventories, cash and cash equivalents
and decreases in accounts payable.
The Company's subsidiary, TTI Pte, has a secured credit agreement with Standard
Chartered Bank which provides for a total line of credit of $ 655,000. There
were no borrowings under this line as of December 27, 1996. The interest rate
on borrowings is at the bank's prime rate plus 2%. Borrowings under this
agreement are collateralized by substantially all of TTI Pte's assets.
The Company's subsidiary, TTBk, has a secured line of credit with a bank which
provides for a total line of credit of $78,000. Borrowings under the line as of
December 27, 1996 were $7,000. Interest is at the bank's prime rate (13.25% at
December 27, 1996) plus 4.75%.
The Company's subsidiary, EETC, has a credit agreement with a bank which
provides a term loan of $560,000. Borrowings under this agreement as of December
27, 1996 were $384,000 Interest is at the bank's prime rate (5.83% at December
27, 1996) plus 3%.
The Company has a revolving line of credit of $125,000 from a bank bearing
interest at 1.5% above the bank's reference rate (8.25% at December 27, 1996).
Borrowings under the line amounted to $95,000 as of December 27, 1996.
2. Material Changes in Financial Position
There were no material changes in the financial position of the Company during
the six-month period ending December 27, 1996.
3. Material Changes in Results of Operations
There were no material changes in the results of operations of the Company
during the six-month period ending December 27, 1996.
PART II. OTHER INFORMATION
Item 2. Changes in securities.
A reverse stock split (the "Reverse Split" ) of the common stock was confirmed
with a date of record for determining the Stockholders entitled to participate
in the Reverse Split of October 13, 1994. The Reverse Split was a one-for-four
reverse stock split whereby each outstanding share of existing common stock was
automatically converted into one-fourth of a share of common stock. Fractional
interests resulting from the Reverse Split were rounded up to the nearest whole
share, with half-shares being rounded up to the next whole number. For example,
a person holding 101 shares prior to the Reverse Split would now hold 25 shares,
the remaining 1/4 share having been canceled and disregarded; persons holding
102 or 103 shares received 26 full shares after the Reverse Split. As of
January 31, 1994
<PAGE>
3,724,000 shares had been delivered to the Transfer Agent for the new stock
certificates. The Company approximates the number of currently outstanding
shares to be 1,282,920.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRIO-TECH INTERNATIONAL
Registrant
By
A. Charles Wilson
Chairman
Dated: February 5, 1997
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
EXHIBIT 11.1
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(unaudited)
(In thousands, except Earnings per Share Data)
SIX MONTHS ENDED THREE MONTHS ENDED
DEC. 27, DEC.29, DEC.27, DEC. 29,
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Net income $ 371 $ 318 $ 202 $ 198
Primary earnings per share:
Weighted average number of
SIX MONTHS ENDED THREE MONTHS ENDED
common shares
outstanding 1,214 1,186 1,221 1,190
Dilutive effect of stock
options and warrants after
application of treasury
stock method
72 82 71 72
Number of shares used to compute
primary earnings
per share 1,286 1,268 1,292 1,262
Primary earnings per share:
Earnings per share $ 0.29 $ 0.25 $ 0.16 $ 0.16
Fully diluted earnings per share:
Weighted average number of
common shares
outstanding 1,214 1,186 1,221 1,190
Dilutive effect of stock
options and warrants after
application of treasury
stock method
77 90 72 58
SIX MONTHS ENDED THREE MONTHS ENDED
Number of shares used to compute
fully diluted
earnings per share 1,291 1,276 1,293 1,248
Fully diluted earnings per share:
Earnings per share $ 0.29 $ 0.25 $ 0.16 $ 0.16
</TABLE>
Trio-Tech International
355 Parkside Drive
San Fernando, CA 91340
February 5, 1997
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
Persuant to the requirements of the Securities Exchange Act of 1934, we are
transmitting herewith the attached Form 10-Q.
Sincerely,
TRIO-TECH INTERNATIONAL
Dale C. Cheesman /s/
Dale C. Cheesman, Corporate Controller
FORM 10-Q
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Quarterly Report Under Section 13 or 15(d)
of the Securities Exchange Act of 1934
For the Quarter Ended December 27, 1996
Commission File Number 0-13914
TRIO-TECH INTERNATIONAL
(Exact name of Registrant as specified in its Charter)
California 95-2086631
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number
355 Parkside Drive, San Fernando, California 91340
(Address of principle executive offices) (Zip Code)
Registrant's Telephone Number: 818-365-9200
Indicate by check mark whether the registrant (1) has filed all reports required
to be filed with the Commission by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months, (or for such shorter period
that the registrant was required to file such reports), and (2) has been subject
to such filing requirements for the past 90 days.
YES X NO
As of January 24, 1997, the Registrant had outstanding approximately 1,282,920*
Shares of Common Stock.
* See PART II. OTHER INFORMATION, ITEM 2 in connection with a one-for-
four reverse stock split, whose effective date of record was October
13, 1994.
This document contains a total of 8 pages.
<PAGE>
<TABLE>
<CAPTION>
PART I. FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
TRIO-TECH INTERNATIONAL
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
(In Thousands)
Dec. 27 Jun. 28,
1996 1996
<S> <C> <C>
ASSETS
CURRENT ASSETS
Cash $ 863 $ 2,114
Certificates of deposit 5,060 3,114
Accounts receivable - net 4,049 4,783
Notes & other receivables 425 179
Inventories 1,779 1,430
Prepaid expenses 305 140
Total current assets 12,481 11,760
PROPERTY, EQUIPMENT AND CAPITALIZED LEASES, NET 4,521 5,330
OTHER ASSETS 283 326
TOTAL ASSETS $ 17,285 $ 17,416
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Notes payable $ 101 $ 245
Accounts payable 1,336 1,813
Accrued expenses 3,692 4,032
Income taxes payable 1,773 1,598
Current portion of long-term debt and
capitalized leases 155 481
Total current liabilities 7,057 8,169
LONG-TERM DEBT AND CAPITALIZED LEASES,
Net of current portion 652 688
DEFERRED TAXES 774 771
MINORITY INTEREST 3,041 2,581
SHAREHOLDERS' EQUITY:
Common stock; authorized, 2,500,000 shares;
issued and outstanding, 1,282,920 shares at
December 27, 1996, and 1,205,804 shares at
June 28, 1996 stated at 5,040 4,878
Accumulated deficit (964) (1,336)
Cumulative currency translation 1,685 1,665
Total shareholders' equity 5,761 5,207
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 17,285 $ 17,416
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
(In Thousands, except Earnings per Share Data)
SIX MONTHS ENDED THREE MONTHS ENDED
DEC. 27, DEC. 29, DEC. 27, DEC. 29,
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Revenues $ 11,035 $ 11,322 $ 5,419 $ 5,591
Cost of revenues 6,814 7,084 3,492 3,365
Gross profit 4,221 4,238 1,927 2,226
Selling, general &
administrative expenses
2,778 2,761 1,362 1,486
SIX MONTHS ENDED THREE MONTHS ENDED
Income from operations 1,443 1,477 565 740
Other income (expense):
Interest expense (62) (76) (27) (35)
Other income (expense) 315 449 189 265
Total 253 373 162 230
Income before income taxes and
minority interest 1,696 1,850 727 970
Income taxes 672 743 251 383
Income before minority interest 1,024 1,107 476 587
Minority interest (653) (789) (274) (389)
Net income $ 371 $ 318 $ 202 $ 198
Earnings per share:
Primary $ 0.29 $ 0.25 $ 0.16 $ 0.16
Fully diluted $ 0.29 $ 0.25 $ 0.16 $ 0.16
Weighted average number of
shares outstanding:
Primary 1,286 1,268 1,292 1,262
Fully diluted 1,291 1,276 1,293 1,248
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
(In Thousands)
SIX MONTHS ENDED
Dec. 27, Dec. 29,
1996 1995
<S> <C> <C>
Cash flows from operating activities:
Net income $ 371 $ 318
Adjustments to reconcile net income to
Cash provided by operations:
Depreciation and amortization 709 798
Loss on disposal of property and equipment 69
Effect of exchange rate changes on
Operating assets 11 (234)
Changes in assets and liabilities:
Accounts receivable, net 734 (1,050)
Notes and other receivables (246) 23
Inventories (349) (284)
Prepaid expenses & other current assets (165) (39)
Other assets 6 39
Accounts payable and accrued expenses (642) 2,034
SIX MONTHS ENDED
Deferred taxes 3 (19)
Net cash provided by operating activities 501 1,586
Cash flows from investing activities:
Certificates of deposit (1,925) (1,353)
Capital expenditures, net (268) (486)
Minority interest 507 922
Purchase of investment (21) 0
Net cash used in investing activities (1,707) (917)
Cash flows from financing activities:
Payments on notes payable and lines of
credit (220) (219)
Borrowings under notes payable 77 0
Proceeds from long-term debt and
capitalized leases (196) 159
Principal payments of long-term debt
capitalized leases (182) (116)
Issuance of common stock 162 36
Net cash used in financing activities (359) (140)
Effect of exchange rate changes on cash 314 (218)
Net (decrease) increase in cash (1,251) 311
Cash, beginning of the period 2,114 674
Cash , end of the period $ 863 $ 985
SIX MONTHS ENDED
Supplemental disclosure of cash flow information
Cash paid during the period for:
Interest $ 67 $ 57
Income taxes $ 446 $ 76
</TABLE>
[FN]
SEE NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS.
<PAGE>
TRIO-TECH INTERNATIONAL
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 1. Basis of Presentation
The interim financial statements as of December 27, 1996, and for the six-months
ended December 27, 1996, are unaudited. In the opinion of management, the
unaudited financial statements include all adjustments necessary, consisting of
normal recurring accruals, for a fair presentation of such information. Certain
reclassifications of prior year amounts have been made to conform to the current
year financial statement presentation.
The consolidated results of operations for the six-month periods ending December
27, 1996 and December 29, 1995, are not necessarily indicative of the results
expected for a full year.
NOTE 2. Inventories
The composition of inventories is as follows (in thousands):
Dec.27, June 28,
1996 1996
Raw materials $ 698 $ 640
Work in process 407 294
Finished goods 674 496
$ 1,779 $ 1,430
NOTE 3. Other Assets
The composition of other assets is as follows (in thousands):
Dec.27, June 28,
1996 1996
Cost in excess of net assets
acquired, net of accumulated
amortization $ 192 $ 228
Other assets 91 98
$ 283 $ 326
NOTE 4. Common Stock
In October, 1994 the Board of Directors approved a one-for-four reverse stock
split. Common stock and stock options have been retroactively adjusted for the
split.
<PAGE>
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
1. Liquidity and Capital Resources
The Company's working capital improved $ 1,833,000 during the first two
quarters. This is due to increases in inventories, cash and cash equivalents
and decreases in accounts payable.
The Company's subsidiary, TTI Pte, has a secured credit agreement with Standard
Chartered Bank which provides for a total line of credit of $ 655,000. There
were no borrowings under this line as of December 27, 1996. The interest rate
on borrowings is at the bank's prime rate plus 2%. Borrowings under this
agreement are collateralized by substantially all of TTI Pte's assets.
The Company's subsidiary, TTBk, has a secured line of credit with a bank which
provides for a total line of credit of $78,000. Borrowings under the line as of
December 27, 1996 were $7,000. Interest is at the bank's prime rate (13.25% at
December 27, 1996) plus 4.75%.
The Company's subsidiary, EETC, has a credit agreement with a bank which
provides a term loan of $560,000. Borrowings under this agreement as of December
27, 1996 were $384,000 Interest is at the bank's prime rate (5.83% at December
27, 1996) plus 3%.
The Company has a revolving line of credit of $125,000 from a bank bearing
interest at 1.5% above the bank's reference rate (8.25% at December 27, 1996).
Borrowings under the line amounted to $95,000 as of December 27, 1996.
2. Material Changes in Financial Position
There were no material changes in the financial position of the Company during
the six-month period ending December 27, 1996.
3. Material Changes in Results of Operations
There were no material changes in the results of operations of the Company
during the six-month period ending December 27, 1996.
PART II. OTHER INFORMATION
Item 2. Changes in securities.
A reverse stock split (the "Reverse Split" ) of the common stock was confirmed
with a date of record for determining the Stockholders entitled to participate
in the Reverse Split of October 13, 1994. The Reverse Split was a one-for-four
reverse stock split whereby each outstanding share of existing common stock was
automatically converted into one-fourth of a share of common stock. Fractional
interests resulting from the Reverse Split were rounded up to the nearest whole
share, with half-shares being rounded up to the next whole number. For example,
a person holding 101 shares prior to the Reverse Split would now hold 25 shares,
the remaining 1/4 share having been canceled and disregarded; persons holding
102 or 103 shares received 26 full shares after the Reverse Split. As of
January 31, 1994
<PAGE>
3,724,000 shares had been delivered to the Transfer Agent for the new stock
certificates. The Company approximates the number of currently outstanding
shares to be 1,282,920.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
TRIO-TECH INTERNATIONAL
Registrant
By
A. Charles Wilson
Chairman
Dated: February 5, 1997
<TABLE>
<CAPTION>
TRIO-TECH INTERNATIONAL
EXHIBIT 11.1
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(unaudited)
(In thousands, except Earnings per Share Data)
SIX MONTHS ENDED THREE MONTHS ENDED
DEC. 27, DEC.29, DEC.27, DEC. 29,
1996 1995 1996 1995
<S> <C> <C> <C> <C>
Net income $ 371 $ 318 $ 202 $ 198
Primary earnings per share:
Weighted average number of
SIX MONTHS ENDED THREE MONTHS ENDED
common shares
outstanding 1,214 1,186 1,221 1,190
Dilutive effect of stock
options and warrants after
application of treasury
stock method
72 82 71 72
Number of shares used to compute
primary earnings
per share 1,286 1,268 1,292 1,262
Primary earnings per share:
Earnings per share $ 0.29 $ 0.25 $ 0.16 $ 0.16
Fully diluted earnings per share:
Weighted average number of
common shares
outstanding 1,214 1,186 1,221 1,190
Dilutive effect of stock
options and warrants after
application of treasury
stock method
77 90 72 58
SIX MONTHS ENDED THREE MONTHS ENDED
Number of shares used to compute
fully diluted
earnings per share 1,291 1,276 1,293 1,248
Fully diluted earnings per share:
Earnings per share $ 0.29 $ 0.25 $ 0.16 $ 0.16
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 5
<CIK> 0000732026
<NAME> TRIO-TECH INTERNATIONAL
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-27-1997
<PERIOD-END> DEC-27-1996
<CASH> 863
<SECURITIES> 5060
<RECEIVABLES> 4474
<ALLOWANCES> 0
<INVENTORY> 1779
<CURRENT-ASSETS> 12481
<PP&E> 16564
<DEPRECIATION> 12043
<TOTAL-ASSETS> 17285
<CURRENT-LIABILITIES> 7057
<BONDS> 0
<COMMON> 5040
0
0
<OTHER-SE> 0
<TOTAL-LIABILITY-AND-EQUITY> 17285
<SALES> 11035
<TOTAL-REVENUES> 11035
<CGS> 6814
<TOTAL-COSTS> 6814
<OTHER-EXPENSES> 3116
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 62
<INCOME-PRETAX> 1043
<INCOME-TAX> 672
<INCOME-CONTINUING> 371
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 371
<EPS-PRIMARY> .29
<EPS-DILUTED> .29
</TABLE>
