Trio-Tech International reports developments tied to semiconductor back-end solutions, reliability testing, manufacturing solutions and value-added electronic-equipment distribution. The company operates through Semiconductor Back-End Solutions and Industrial Electronics, with operations in the United States, Singapore, Malaysia, Thailand and China.
Company news commonly covers quarterly operating results, burn-in boards and burn-in services for AI, EV and automotive semiconductor applications, and industrial electronics demand including aerospace-related products. Updates also include capital actions such as registered direct offerings and the completed two-for-one forward stock split, along with shareholder voting and other public-company matters.
Trio-Tech International (NYSE MKT: TRT) reported robust financial results for Q2 and the first half of fiscal 2022. Q2 revenue surged 33% to $10.9 million, driven by a 39% rise in testing services and a remarkable 127% increase in distribution revenue. Net income skyrocketed 264% to $855,000, or $0.20 per diluted share. For the first half, revenue climbed 40% to $21.1 million, with net income soaring 681% to $1.77 million, or $0.43 per diluted share. Shareholders' equity also increased to $27.8 million. Despite optimistic growth, caution is advised for Q3 due to seasonal factors.
Trio-Tech International (NYSE MKT: TRT) has resumed full operations at its Tianjin, China facility following the lifting of lockdown measures by the Tianjin City Government on January 20, 2022. By January 21, 2022, the facility was operating at 100% capacity and is working to increase production output to address backlog. CEO S.W. Yong emphasized the company's commitment to health and safety protocols during the resumption. Trio-Tech is dedicated to cooperating with local authorities to ensure ongoing COVID-19 compliant operations.
Trio-Tech International (AMEX: TRT) has confirmed full compliance with the lockdown measures imposed by the Tianjin City Government due to a COVID-19 outbreak. The lockdown affects its Tianjin operations and necessitated the temporary closure of its production line. CEO S.W. Yong emphasized the company's commitment to health and safety, stating they are taking stringent measures to protect employees and the community. Trio-Tech plans to resume operations once the city allows it. Established in 1958, Trio-Tech specializes in semiconductor testing services and equipment.
Trio-Tech International (AMEX: TRT) has entered into a Joint Venture agreement with a Chinese company in Suzhou, China, to provide testing and burn-in services for semiconductor components in computing and automotive electronics. This facility will leverage both companies' expertise, particularly in System Level Testing (SLT), enhancing competitive advantage in the electric vehicle sector. Trio-Tech will maintain majority ownership of the joint venture, which aims to facilitate performance testing of integrated semiconductor assemblies. This collaboration is expected to drive future growth for the company.
Trio-Tech International (NYSE MKT: TRT) reported robust financial results for Q1 FY2022, with total revenue rising 49% to $10,171,000, up from $6,841,000 a year earlier. Manufacturing revenue grew by 36%, testing services by 56%, and distribution revenue by 59%. Gross margin increased to 31%, while operating expenses decreased to 22%. Operating income surged to $970,000, in contrast to a loss of $327,000 last year. Net income reached $917,000, or $0.23 per diluted share, compared to a net loss of $8,000. Shareholders' equity also rose to $26,704,000.
Trio-Tech International (NYSE MKT: TRT) reported a 30% revenue increase to $9,308,000 in Q4 fiscal 2021, driven by growth in manufacturing (40%) and testing services (36%). However, the fiscal year revenue fell 6% to $32,462,000. A significant one-time non-cash impairment charge of $1,580,000 related to a project in China resulted in a net loss of $996,000 for Q4 and $591,000 for the fiscal year. Despite challenges, backlog grew 45% to $13,503,000, and cash reserves increased 41% to $5,836,000. Gross margins improved, indicating effective cost control.
Trio-Tech International (NYSE MKT: TRT) reported its financial results for Q3 and the first nine months of fiscal 2021. Q3 revenue rose 24% to $3,130,000 driven by increased orders at its Singapore facility, while semiconductor testing services revenue fell 6% to $3,504,000, and distribution revenue dropped 34% to $1,467,000. Overall Q3 revenue decreased 5% to $8,112,000, but gross margin improved to 25%. For the nine months, total revenue decreased 15% to $23,154,000 with net income falling to $405,000. Shareholders' equity increased to $26,921,000.
Trio-Tech International (NYSE MKT: TRT) reported a 9% decline in revenue for Q2 fiscal 2021 to $8,201,000. Manufacturing revenue rose by 17% while semiconductor testing services dropped 8%. Distribution revenue saw a significant 47% decrease. Overall gross margin improved to 23% of revenue. Net income fell to $235,000 from $426,000 year-over-year. For the first half of fiscal 2021, total revenue dropped 20% to $15,042,000, with a net income of $227,000, compared to $699,000 in the previous year.