VAN NUYS, Calif. --(BUSINESS WIRE)

Trio-Tech International (NYSE MKT: TRT), a comprehensive provider of semiconductor back-end solutions and a global value-added supplier of electronic equipment, today announced financial results for its fiscal first quarter ended September 30, 2025. The Company reported 58% year-over-year revenue growth, driven by strong performance across both its Semiconductor Back-End and Industrial Electronics segments.

Trio-Tech International Chairman and CEO S.W. Yong’s Comments

“We began fiscal 2026 with strong momentum, delivering solid revenue growth and profitability. Our Semiconductor Back-End segment achieved significant growth, driven by our successful entry into providing final testing services for next-generation high-performance AI devices for a leading AI chip manufacturer. This milestone reinforces our reputation for reliability, performance, and security in mission-critical applications and demonstrates our ability to meet the highest standards before full-scale deployment. We’re proud to support this customer’s innovation journey and look forward to delivering outstanding results.

“Also, as the global semiconductor industry continues its shift from cost optimization to resilience, our Semiconductor Back-End solutions segment is benefiting from our regional expertise in Southeast Asia and deep, long-standing customer relationships.

“At the same time, our Industrial Electronics segment continued to scale, expanding into new aerospace channels and broadening its customer base. Notably, U.S. sales in the segment have grown for two consecutive quarters, reflecting increasing demand and the strength of our diversified portfolio. Our focus on operational discipline and strategic growth gives us confidence in achieving sustainable long-term success.”

Fiscal 2026 First Quarter Financial Results

  • Total revenue: $15.5 million, a 58% increase from $9.8 million in Q1 FY2025, reflecting robust contributions from both segments.
  • Semiconductor Back-End Solutions: $11.4 million, up 66% from $6.9 million in the prior year, driven by new AI chip testing and higher testing volumes across Southeast Asia.
  • Industrial Electronics: $4.0 million, up 39% from $2.9 million, reflecting growth from new aerospace channel sales.
  • Gross margin: $2.6 million, or 17% of revenue, compared to $2.3 million, or 23%, a year ago; the margin decline reflects higher-volume, lower-margin AI chip testing services.
  • Operating income: $46 thousand, compared to $133 thousand in Q1 FY2025.
  • Net income attributable to common shareholders: $77 thousand, or $0.02 per diluted share, compared to a net loss of $236 thousand ($0.06 per share) in the prior year.
  • Cash, cash equivalents, and restricted cash: $20.1 million as of September 30, 2025, up from $19.5 million at June 30, 2025.

Outlook

Trio-Tech expects continued momentum through fiscal 2026. The Company anticipates steady growth in its Industrial Electronics segment and additional revenue from its AI chip manufacturing customer for final test services. Trio-Tech remains focused on cost control, operational efficiency, and strategic growth investments to support profitability and cash generation.

About Trio-Tech International

Trio-Tech International (NYSE MKT: TRT) is a California-based company operating in the United States, Singapore, Malaysia, Thailand, and China. Founded in 1958, Trio-Tech is a leading provider of semiconductor testing services, manufacturing solutions, and value-added distribution services. The Company’s diversified business segments include Semiconductor Back-End Solutions and Industrial Electronics.

For more information, visit www.triotech.com and www.universalfareast.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 and may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and assumptions regarding future activities and results of operations of the Company. In light of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the following factors, among others, could cause actual results to differ materially from those reflected in any forward looking statements made by or on behalf of the Company: market acceptance of Company products and services; the divestiture of one or more business segments in response to, among other factors, changing business conditions or technologies and volatility in the semiconductor industry, which could affect demand for the Company's products and services; the impact of competition; problems with technology; product development schedules; delivery schedules; changes in military or commercial testing specifications which could affect the market for the Company's products and services; difficulties in profitably integrating acquired businesses, if any, into the Company; risks associated with conducting business internationally and especially in Asia, including currency fluctuations and devaluation, currency restrictions, imposition of tariffs, local laws and restrictions and possible social, political and economic instability; changes in U.S. and global financial and equity markets, including market disruptions and significant interest rate fluctuations; trade tension between U.S. and China and other economic, financial and regulatory factors beyond the Company's control. Other than statements of historical fact, all statements made in this release are forward looking, including, but not limited to, statements regarding industry prospects, future results of operations or financial position, and statements of our intent, belief and current expectations about our strategic direction, prospective and future financial results and condition. In some cases, you can identify forward looking statements by the use of terminology such as "may," "will," "expects," "plans," "anticipates," "estimates," "potential," "believes," "can impact," "continue," or the negative thereof or other comparable terminology. Forward looking statements involve risks and uncertainties that are inherently difficult to predict, which could cause actual outcomes and results to differ materially from our expectations, forecasts and assumptions. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.

TRIO-TECH INTERNATIONAL AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME / (LOSS)

UNAUDITED (IN THOUSANDS, EXCEPT EARNINGS PER SHARE)

 

 

 

Three Months Ended

 

 

September 30,

 

September 30,

 

 

2025

 

2024

Revenue

 

 

 

 

 

 

 

 

Semiconductor Back-end Solutions

 

$

11,452

 

 

$

6,879

 

Industrial Electronics

 

 

4,052

 

 

 

2,914

 

Others

 

 

10

 

 

 

6

 

 

 

 

15,514

 

 

 

9,799

 

 

 

 

 

 

 

 

 

 

Cost of Sales

 

 

12,929

 

 

 

7,477

 

 

 

 

 

 

 

 

 

 

Gross Margin

 

 

2,585

 

 

 

2,322

 

 

 

 

 

 

 

 

 

 

Operating Expense:

 

 

 

 

 

 

 

 

General and administrative

 

 

2,174

 

 

 

1,964

 

Selling

 

 

271

 

 

 

150

 

Research and development

 

 

94

 

 

 

88

 

Gain on disposal of property, plant and equipment

 

 

-

 

 

 

(13

)

Total operating expense

 

 

2,539

 

 

 

2,189

 

 

 

 

 

 

 

 

 

 

Income from Operations

 

 

46

 

 

 

133

 

 

 

 

 

 

 

 

 

 

Other Income / (Expense)

 

 

 

 

 

 

 

 

Interest expense

 

 

(8

)

 

 

(13

)

Other income / (expense), net

 

 

185

 

 

 

(365

)

Government grant

 

 

4

 

 

 

66

 

Total other income / (expense)

 

 

181

 

 

 

(312

)

 

 

 

 

 

 

 

 

 

Income / (Loss) from Continuing Operations before Income Taxes

 

 

227

 

 

 

(179

)

 

 

 

 

 

 

 

 

 

Income Tax Expense

 

 

(64

)

 

 

(51

)

 

 

 

 

 

 

 

 

 

Income / (Loss) from Continuing Operations before Non-controlling Interest, Net of Taxes

 

 

163

 

 

 

(230

)

 

 

 

 

 

 

 

 

 

Discontinued Operations

 

 

 

 

 

 

 

 

Income from discontinued operations, net of tax

 

 

2

 

 

 

7

 

Net Income / (Loss)

 

 

165

 

 

 

(223

)

 

 

 

 

 

 

 

 

 

Less: Net income attributable to non-controlling interest

 

 

88

 

 

 

13

 

Net Income / (Loss) Attributable to Common Shareholders

 

$

77

 

 

$

(236

)

 

 

 

 

 

 

 

 

 

Amounts Attributable to Common Shareholders:

 

 

 

 

 

 

 

 

Income / (loss) from continuing operations, net of tax

 

 

76

 

 

 

(240

)

Income from discontinued operations, net of tax

 

 

1

 

 

 

4

 

Net Income / (Loss) Attributable to Common Shareholders

 

$

77

 

 

$

(236

)

 

 

 

 

 

 

 

 

 

Basic Earnings / (Loss) per Share:

 

 

 

 

 

 

 

 

Basic earnings /(loss) per share from continuing operations

 

$

0.02

 

 

$

(0.06

)

Basic earnings / (loss) from discontinued operations

 

 

-

 

 

 

-

 

Basic Earnings / (Loss) per Share from Net Income / (Loss)

 

$

0.02

 

 

$

(0.06

)

 

 

 

 

 

 

 

 

 

Diluted Earnings / (Loss) per Share:

 

 

 

 

 

 

 

 

Diluted earnings / (loss) per share from continuing operations

 

$

0.02

 

 

$

(0.06

)

Diluted earnings / (loss) per share from discontinued operations

 

 

-

 

 

 

-

 

Diluted Earnings / (Loss) per Share from Net Income / (Loss)

 

$

0.02

 

 

$

(0.06

)

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding

 

 

 

 

 

 

 

 

Basic

 

 

4,313

 

 

 

4,250

 

Dilutive effect of stock options

 

 

49

 

 

 

85

 

Number of Shares Used to Compute Earnings Per Share Diluted

 

 

4,362

 

 

 

4,335

 

 

 

Three Months Ended

 

 

September 30,

 

September 30,

 

 

2025

 

2024

Comprehensive (Loss) / Income Attributable to Common Shareholders:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income / (loss)

 

$

165

 

 

$

(223

)

Foreign currency translation, net of tax

 

 

(70

)

 

 

2,014

 

Comprehensive Income

 

 

95

 

 

 

1,791

 

Less: comprehensive income attributable to non- controlling interest

 

 

125

 

 

 

139

 

Comprehensive (Loss) / Income Attributable to Common Shareholders

 

$

(30

)

 

$

1,652

 

TRIO-TECH INTERNATIONAL AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(IN THOUSANDS, EXCEPT NUMBER OF SHARES)

 

 

September 30,

June 30,

 

2025

2025

 

(Unaudited)

 

 

ASSETS

 

 

 

 

 

CURRENT ASSETS:

 

 

 

 

 

Cash and cash equivalents

$

12,262

$

10,890

 

Short-term deposits

 

5,101

 

5,817

 

Trade accounts receivable, less allowance for expected credit losses of $59 and $35, respectively

 

15,860

 

10,804

 

Other receivables

 

705

 

608

 

Inventories, less provision for obsolete inventories of $823 and $851, respectively

 

2,404

 

2,262

 

Prepaid expense and other current assets

 

494

 

384

 

Restricted term deposits

 

815

 

816

 

Total current assets

 

37,641

 

31,581

 

NON-CURRENT ASSETS:

 

 

 

 

 

Deferred tax assets

 

92

 

91

 

Investment properties, net

 

330

 

345

 

Property, plant and equipment, net

 

5,753

 

6,021

 

Operating lease right-of-use assets

 

1,401

 

864

 

Other assets

 

236

 

231

 

Restricted term deposits

 

1,925

 

1,935

 

Total non-current assets

 

9,737

 

9,487

 

TOTAL ASSETS

$

47,378

$

41,068

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

CURRENT LIABILITIES:

 

 

 

 

 

Lines of credit

$

-

$

141

 

Accounts payable

7,821

 

1,896

 

Accrued expense

2,969

 

3,036

 

Contract liabilities

 

255

 

250

 

Income taxes payable

 

93

 

122

 

Current portion of bank loans payable

 

257

 

256

 

Current portion of finance leases

 

32

 

43

 

Current portion of operating leases

 

527

 

540

 

Total current liabilities

 

11,954

 

6,284

 

NON-CURRENT LIABILITIES:

 

 

 

 

 

Bank loans payable, net of current portion

 

365

 

428

 

Operating leases, net of current portion

 

874

 

324

 

Deferred tax liabilities

 

9

 

10

 

Other non-current liabilities

 

32

 

31

 

Total non-current liabilities

 

1,280

 

793

 

TOTAL LIABILITIES

$

13,234

$

7,077

 

 

 

 

 

 

 

EQUITY

 

 

 

 

 

TRIO-TECH INTERNATIONAL SHAREHOLDERS’ EQUITY:

 

 

 

 

 

Common stock, no par value, 15,000,000 shares authorized; 4,312,805 shares issued outstanding as at September 30, 2025 and June 30, 2025, respectively

$

13,490

$

13,490

 

Paid-in capital

 

6,037

 

5,979

 

Accumulated retained earnings

 

12,114

 

12,037

 

Accumulated other comprehensive income-translation adjustments

 

2,415

 

2,522

 

Total Trio-Tech International shareholders’ equity

 

34,056

 

34,028

 

Non-controlling interest

 

88

 

(37

)

TOTAL EQUITY

$

34,144

$

33,991

 

TOTAL LIABILITIES AND EQUITY

$

47,378

$

41,068

 

 

For inquiries, please contact:

PondelWilkinson Inc.
Todd Kehrli or Jim Byers
[email protected] | [email protected]

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