As of September 30, 2024, Trio-Tech International reported total current assets of $32,475,000, an increase from $32,182,000 as of June 30, 2024. Total assets rose to $42,940,000 from $42,540,000 during the same period. Current liabilities decreased to $8,139,000 from $9,422,000, while total liabilities fell to $9,500,000 from $10,962,000. Shareholders’ equity increased to $33,052,000 from $31,329,000, with total equity reaching $33,440,000, up from $31,578,000.

For the three months ended September 30, 2024, Trio-Tech reported total revenue of $9,799,000, a decrease of $167,000 (1.7%) from $9,966,000 in the same period of the previous fiscal year. Revenue from the Semiconductor Back-end Solutions (SBS) segment was $6,879,000, down 4.1% from $7,176,000, attributed to lower demand for testing services, although partially offset by increased product sales in Singapore. The Industrial Electronics (IE) segment saw revenue increase by $131,000 (4.7%) to $2,914,000, reflecting a recovery in demand for electronic components.

Gross profit for the quarter was $2,322,000, down from $2,520,000 in the prior year, with a gross profit margin of 23.7%, a decrease from 25.3%. Operating expenses decreased to $2,189,000 from $2,521,000, primarily due to lower general and administrative costs. Income from operations was $133,000, a significant improvement from a loss of $1,000 in the same period last year.

The company reported a net loss attributable to common shareholders of $236,000, compared to a net income of $230,000 in the prior year. Basic loss per share from continuing operations was $(0.06), compared to earnings per share of $0.06 in the same period of 2023. The net cash used in operating activities increased to $(1,857,000) from $(24,000) in the previous year, primarily due to the net loss.

Trio-Tech is facing uncertainties in forecasting performance due to changing technology and declining demand for burn-in devices. The company is exploring new markets and products while upgrading technology to mitigate these challenges. Additionally, it filed a shelf registration statement with the SEC to potentially raise $10,000,000 for expansion and working capital purposes.