TRIO-TECH INTERNATIONAL

Listed Company

TRTCIK 0000732026NYSENon-AcceleratedSmaller ReportingSpecial Industry Machinery, NecCaliforniaFY ends Jun 30

Period

FY 2025

Revenue

—

Net Income

Total Assets

$41.07M

Equity

$34.03M

Shares Out

8.75M

Op. Cash Flow

$371.0K

Business

Trio-Tech International is a provider of reliability test equipment and testing services for the semiconductor and other industries. It designs and manufactures burn-in and reliability test systems, manufacturing-process equipment (environmental chambers, leak detectors, HAST testers, etc.), offers comprehensive electrical/environmental testing services, and provides value-added distribution, maintenance, calibration and engineering support. The company reports two business segments—Semiconductor Back-end Solutions (back-end manufacturing and testing operations) and Industrial Electronics (equipment manufacturing, distribution and services). It serves customers in the U.S., Singapore, Malaysia, Thailand and China and markets worldwide via direct sales, independent representatives and service laboratories.

Summary from filing dated 2025-09-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenues	36	42	43	44	32
Cost of Sales	27	32	32	32	25
Gross Margin	9	11	12	12	8
General and administrative	8	8	8	8	7
Selling	718,000	844,000	670,000	643,000	446,000
Research and development	384,000	392,000	397,000	375,000	357,000
(Gain) / Loss on disposal of property, plant and equipment	−102,000	46,000	7,000	1,000	0
Total operating expense	9	10	9	9	8
Income from Operations	254,000	1	2	2	−61,000
Interest expense	−45,000	−77,000	−105,000	—	—
Other Nonoperating Income (Expense)	−181,000	500,000	106,000	595,000	354,000
Government grant	145,000	113,000	153,000	228,000	514,000
Total other (expense) / income	−81,000	536,000	154,000	701,000	−838,000
Income from Continuing Operations before Income Taxes	173,000	2	2	3	−899,000
Income Tax Expense	−168,000	−486,000	−622,000	−757,000	−228,000
Income from Continuing Operations before Non-controlling Interest, Net of Tax	5,000	1	2	2	−1
Loss from discontinued operations, net of tax	−5,000	−1,000	−1,000	−1,000	−16,000
NET INCOME	0	1	2	2	−1
Less: Net income attributable to non-controlling interest	41,000	92,000	214,000	−96,000	−564,000
Net (Loss) / Income Attributable to Trio-Tech International Common Shareholders	−41,000	1	2	2	−591,000
(Loss) / income from continuing operations, net of tax	−36,000	1	2	2	−575,000
Net (Loss) / Income Attributable to Trio-Tech International Common Shareholders	−41,000	1	—	—	—
Basic (loss) / earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share)	−0.01	0.25	0.38	0.61	−0.16
Basic earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share)	0	0	0	−0.01	0
Basic (Loss) / Earnings per Share from Net (Loss) / Income Attributable to Trio-Tech International (in dollars per share)	−0.01	0.25	0.38	0.6	−0.16
Diluted (loss) / earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share)	−0.01	0.24	0.37	0.57	−0.15
Diluted earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share)	0	0	0	0	0
Diluted (Loss) / Earnings per Share from Net (Loss) / Income Attributable to Trio-Tech International (in dollars per share)	−0.01	0.24	0.37	0.57	−0.15
Basic (in shares)	4	4	4	4	4
Dilutive effect of stock options (in shares)	93,000	139,000	83,000	202,000	117,000
Number of shares used to compute earnings per share diluted (in shares)	4	4	4	4	4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	11	10	8	8	6
Short-term deposits	6	6	7	5	7
Trade accounts receivable, less allowance for expected credit losses of $35 and $209, respectively	11	11	694,000	1	418,000
Other receivables	608,000	541,000	939,000	998,000	662,000
Inventories, less provision for obsolete inventories of $851 and $679, respectively	2	3	2	2	2
Prepaid expense and other current assets	384,000	536,000	274,000	0	—
Restricted Term-Deposits in Current Assets	816,000	750,000	739,000	0	—
Total current assets	32	32	29	29	24
Deferred tax assets	91,000	124,000	100,000	169,000	217,000
Investment properties, net	345,000	407,000	474,000	585,000	681,000
Property, plant and equipment, net	6	6	8	8	10
Operating lease right-of-use assets	864,000	2	3	3	2
Other assets	231,000	232,000	116,000	137,000	262,000
Restricted term deposits	2	2	2	2	2
Total non-current assets	9	10	13	14	14
TOTAL ASSETS	41	43	42	43	38
Bank loans payable, net of current portion	428,000	613,000	877,000	1	2
Finance leases, net of current portion	0	34,000	42,000	119,000	253,000
Operating leases, net of current portion	324,000	725,000	2	2	1
Income taxes payable, net of current portion	0	141,000	255,000	137,000	385,000
Deferred tax liabilities	10,000	0	10,000	0	—
Other non-current liabilities	31,000	27,000	594,000	28,000	31,000
Total non-current liabilities	793,000	2	3	3	3
TOTAL LIABILITIES	7	11	13	15	12
Lines of credit	141,000	0	0	929,000	72,000
Accounts payable	2	3	2	2	4
Accrued expense	3	4	4	6	3
Contract liabilities	250,000	754,000	1	—	—
Income taxes payable	122,000	379,000	418,000	787,000	314,000
Current portion of bank loans payable	256,000	261,000	475,000	472,000	439,000
Current portion of finance leases	43,000	57,000	107,000	118,000	197,000
Current portion of operating leases	540,000	1	1	1	672,000
Total current liabilities	6	9	9	12	9
Common stock, no par value, 15,000,000 shares authorized; 4,312,805 and 4,250,305 shares issued outstanding as of June 30, 2025 and 2024, respectively	13	13	13	13	12
Paid-in capital	6	6	5	5	4
Accumulated retained earnings	12	12	11	9	7
Accumulated other comprehensive income-translation adjustments	3	660,000	758,000	1	2
Total Trio-Tech International shareholders equity	34	31	29	28	26
Non-controlling interest	−37,000	249,000	165,000	128,000	419,000
TOTAL EQUITY	34	32	30	28	26
TOTAL LIABILITIES AND EQUITY	41	43	42	43	38

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Unrealized foreign exchange loss	450,000	159,000	—	—	—
Depreciation and amortization	3	4	5	3	3
(Gain) / Loss on sale and write-off of property, plant and equipment	−102,000	46,000	7,000	76,000	−1,000
Stock compensation	448,000	465,000	358,000	475,000	249,000
Addition of provision for obsolete inventory, net	150,000	44,000	61,000	0	−15,000
Payment of interest portion of finance lease	−3,000	−6,000	−10,000	−21,000	—
Bad debt recovery, net of allowance charged	1,000	−5,000	−11,000	−58,000	−9,000
Accrued interest income, net accrued interest expense	−30,000	−72,000	−12,000	78,000	29,000
Addition of income tax provision	−12,000	−7,000	—	—	—
Assurance warranty utilisation, net	4,000	0	5,000	0	3,000
Deferred tax expenses / (benefit)	48,000	−22,000	106,000	40,000	−139,000
Repayment of operating lease	−1	−1	−1	−1	—
Trade accounts receivable	−142,000	−838,000	2	−3	−2
Other receivables	−67,000	398,000	59,000	−336,000	336,000
Other assets	−11,000	−51,000	−10,000	118,000	−327,000
Inventories	898,000	−1	230,000	−252,000	−98,000
Prepaid expenses and other current assets	150,000	159,000	511,000	−826,000	−97,000
Accounts payable and accrued expenses	−2	798,000	−1	2	1
Contract liabilities	−505,000	−523,000	287,000	—	—
Income taxes payable	−320,000	−176,000	−350,000	323,000	118,000
Other non-current liabilities	4,000	−567,000	566,000	0	—
Net Cash Provided by Operating Activities	371,000	3	8	2	2
Withdrawal from unrestricted term deposits	6	5	5	3	2
Investment in unrestricted term deposits	−5	−5	−7	−2	−2
Proceeds from disposal of assets for sale	0	200,000	0	—	—
Proceeds from disposal of property, plant and equipment	173,000	60,000	78,000	0	0
Additions to property, plant and equipment	−967,000	−542,000	−4	−1	−1
Net Cash Provided by / (Used in) Investing Activities	167,000	−113,000	−6	−444,000	−567,000
Payment on lines of credit	−98,000	−961,000	−2	−2	−589,000
Payment of bank loans	−279,000	−475,000	−480,000	−451,000	−412,000
Payment of principal portion of finance leases	−59,000	−112,000	−120,000	−193,000	−253,000
Proceeds from exercising stock options	165,000	506,000	69,000	572,000	754,000
Proceeds from lines of credit	231,000	952,000	580,000	2	482,000
Net Cash Used in Financing Activities	−40,000	−90,000	−1	911,000	−2,000
Effect of Changes in Exchange Rate	587,000	4,000	−131,000	−791,000	698,000
Net Increase in Cash, Cash Equivalents, and Restricted Cash	1	3	662,000	2	2
Interest	46,000	75,000	104,000	121,000	122,000
Income taxes	438,000	425,000	558,000	403,000	207,000

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