Reliability Incorporated (REAL.PK)

Reliability Incorporated engages in the design, manufacture, and marketing of equipment used to test and condition integrated circuits. It also manufactures DC-DC power converters, as well as operates a service facility that conditions and tests integrated circuits for others in Singapore. The company operates in three segments: Testing Products, Services, and Power Sources. The Testing Products segment designs, manufactures, and markets equipment used in the testing and conditioning of integrated circuits by semiconductor manufacturers. The Services segment operates a services facility in Singapore to condition and test integrated circuits. The Power Sources segment designs, manufactures, and markets power sources, primarily a line of DC-DC power converters that convert direct current voltage into a higher or lower voltage. It markets and sells products for, and provides services to, semiconductor manufacturers and large users of integrated circuits. The company sells its products and services through direct sales force in the United States and Singapore, as well as through a network of distributors and sales representatives in the United States, Europe, and southeastern Asia. The company was incorporated in 1953 and is headquartered in Houston, Texas.

For the fiscal year ended 12/31/04, revenues rose 56% to $3.2 million. Net loss fell 25% to $4.9 million. Revenues reflect higher spare parts sale in the Asian market and amount of units sold. Lower loss was partially offset by hihger operating expenses as a percentage of sales.