EXHIBIT 99.1 PRESS RELEASE

LOS ANGELES
SINGAPORE
DUBLIN
PENANG
KUALA LUMPUR
BANGKOK

	Company Contact:	Investor Contact:
	Dale Cheesman	Berkman Associates
	Corporate Secretary	(310) 277-5162
FOR IMMEDIATE RELEASE	(818) 787-7000	info@BerkmanAssociates.com

Trio-Tech Fiscal 2003 Third Quarter Net Income

is $0.01 Per Diluted Share

Nine-Month Net Income is $0.06 Per Diluted Share

     Van Nuys, CA, — May 13, 2003 — Trio-Tech International (ASE:TRT) announced today that net income for the third quarter of fiscal 2003 ended March 31, 2003 was $28,000, or $0.01 per diluted share. This compares to a net loss for the third quarter of fiscal 2002 of $312,000, or $0.11 per share. Revenue for this year’s third quarter increased to $5,561,000 from $4,657,000 for the same period last year.

     For the nine months ended March 31, 2003, net income was $175,000, or $0.06 per diluted share, on revenue of $16,527,000. This compares to a net loss for the first nine months of fiscal 2002 of $1,504,000, or $0.51 per share, which included a non-cash impairment charge of $624,000 (before taxes) to reduce goodwill, other intangible assets and fixed assets. Revenue for last year’s first nine months was $14,605,000.

     “The long slump in the global semiconductor industry continued in the third quarter, so Trio-Tech’s modest profit and improving cash flow are notable accomplishments. While we currently anticipate little change in the company’s earnings in the fourth quarter compared to the third quarter, we see encouraging signs that demand for our semiconductor testing services may begin to rebound this summer as our customers prepare to launch next-generation products. Because we have managed our costs aggressively during this slow period but continued to expand our testing technology and capacity, we believe we have strengthened Trio-Tech’s competitive position and enhanced our ability to benefit as the market recovers,” said President and Chief Executive Officer S.W. Yong.

Third Quarter Operations Review

     Net sales for Trio-Tech’s testing services segment were $2,327,000 for the third quarter of fiscal 2003 compared to net sales of $2,151,000 a year earlier. Operating income in the testing segment was $228,000 compared to $229,000 a year earlier. Manufacturing segment revenue was $902,000 compared to $1,008,000 in the prior year. The operating loss in the manufacturing segment decreased to $264,000 compared to an operating loss of $525,000 a year earlier. Distribution segment revenue increased to $2,332,000 from $1,498,000. The distribution segment reported an operating loss of $6,000 compared to an operating loss of $39,000 for the prior year.

(more)

Trio-Tech Fiscal 2003 Third Quarter Net Income is $0.01 Per Diluted Share

Versus A Loss of $0.11 Per Share

May 13, 2003

Page Two

     Total order backlog at March 31, 2003 was $2,822,000, including testing services backlog of $1,739,000. This compares to total backlog at March 31, 2002 of $7,220,000, including testing services backlog of $6,290,000.

     At March 31, 2003, shareholders’ equity was $8,717,000, or approximately $3.00 per share, including cash and short-term deposits $5,688,000.

About Trio-Tech

     Founded in 1958, Trio-Tech International provides third-party semiconductor testing and burn-in services primarily through its laboratories in Southeast Asia. Headquartered in Van Nuys, California, the Company also designs, manufactures and markets equipment and systems used in the testing and production of semiconductors and distributes semiconductor processing and testing equipment manufactured by others. For further information or to request quotations for any of Trio-Tech’s complete line of semiconductor test equipment, please visit the Company’s Web site at www.TrioTech.com.

Forward-Looking Statements

     This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and the following: the effectiveness of the cost reduction initiatives undertaken by the Company, changes in demand for the Company’s products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, excess or shortage of production capacity, and other risks discussed from time to time in the Company’s Securities and Exchange Commission filings and reports. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic and international economic conditions. Such forward-looking statements speak only as of the date on which they are made, and the Company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.

(tables attached)

#3310

TRIO-TECH INTERNATIONAL AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(In Thousands, Except per Share Dollar Amounts)(Unaudited)

			Nine Months Ended						Three Months Ended
			March 31,						March 31,
			2003			2002			2003			2002
NET SALES			$	16,527		$	14,605		$	5,561		$	4,657
COST OF SALES				12,378			11,361			4,535			3,603
GROSS PROFIT				4,149			3,244			1,026			1,054
OPERATING EXPENSES:
	General and administrative			3,192			3,233			822			991
	Selling			655			887			182			302
	Research and development			89			259			34			93
	Impairment loss			—			624			—			82
	Loss (gain) on disposal of property, plant & equipment			112			(36	)		—			(39	)
		Total		4,048			4,967			1,038			1,429
INCOME (LOSS) FROM OPERATIONS				101			(1,723	)		(12	)		(375	)
OTHER INCOME (EXPENSE)
	Interest expense			(145	)		(159	)		(48	)		(55	)
	Other income			241			389			76			114
		Total		96			230			28			59
INCOME (LOSS) BEFORE INCOME
	TAXES AND MINORITY INTEREST			197			(1,493	)		16			(316	)
INCOME TAXES				71			68			21			—
INCOME (LOSS) BEFORE MINORITY INTEREST				126			(1,561	)		(5	)		(316	)
MINORITY INTEREST				49			57			33			4
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON SHARES				175			(1,504	)		28			(312	)
OTHER COMPREHENSIVE INCOME (LOSS):
	Unrealized loss on investment			(24	)		—						—
	Foreign currency translation adjustment			(66	)		10			(58	)		30
COMPREHENSIVE INCOME (LOSS)			$	85		$	(1,494	)	$	(30	)	$	(282	)
EARNINGS (LOSS) PER SHARE:
		Basic	$	0.06		$	(0.51	)	$	0.01		$	(0.11	)
		Diluted	$	0.06		$	(0.51	)	$	0.01		$	(0.11	)
WEIGHTED AVERAGE NUMBER OF COMMON & POTENTIAL COMMON SHARES OUTSTANDING
		Basic		2,928			2,928			2,928			2,928
		Diluted		2,928			2,928			2,928			2,928

TRIO-TECH INTERNATIONAL AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(In Thousands, except Share Amounts)

			March 31,			June 30,
			2003			2002
ASSETS			(unaudited)
CURRENT ASSETS:
	Cash		$	1,677		$	1,128
	Short term deposits			4,011			5,906
	Investments in marketable securities			417			554
	Trade accounts receivable, net			4,653			4,148
	Other receivables			344			527
	Inventories, net			811			1,014
	Prepaid expenses and other current assets			167			128
		Total current assets		12,080			13,405
PROPERTY, PLANT AND EQUIPMENT, Net				5,702			5,593
OTHER ASSETS				16			77
		TOTAL ASSETS	$	17,798		$	19,075
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
	Lines of credit		$	532		$	1,227
	Accounts payable			1,354			1,717
	Accrued expenses			2,184			2,315
	Income taxes payable			60			106
	Current portion of notes payable			755			785
	Current portion of capitalized leases			347			336
		Total current liabilities		5,232			6,486
NOTES PAYABLE, net of current portion				584			641
CAPITALIZED LEASES, net of current portion				403			345
DEFERRED INCOME TAXES				666			669
TOTAL LIABILITIES				6,885			8,141
MINORITY INTEREST				2,196			2,316
SHAREHOLDERS’ EQUITY:
	Common stock; no par value, authorized, 15,000,000 shares; issued and outstanding 2,927,565 and 2,927,551 respectively			9,423			9,423
	Additional paid-in capital			284			270
	Accumulated deficit			(483	)		(658	)
	Accumulated other comprehensive income-marketable securities			—			24
	Accumulated other comprehensive loss-foreign currency			(507	)		(441	)
		Total shareholders’ equity		8,717			8,618
	TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	17,798		$	19,075