Trio-Tech International(TRT) - 2025 Q1 - Quarterly Report

Revenue Performance - Total revenue decreased by $167, or 1.7%, to $9,799 in the first quarter of Fiscal 2025, compared to $9,966 for the same period in Fiscal 2024[147] - Semiconductor Back-end Solutions segment revenue decreased by $297, or 4.1%, to $6,879 for the first quarter of Fiscal 2025, compared to $7,176 for the same period in Fiscal 2024[147] - Industrial Electronics segment revenue increased by $131, or 4.7%, to $2,914 for the first quarter of Fiscal 2025, compared to $2,783 for the same period in Fiscal 2024[147] - Revenue in the SBS segment as a percentage of total revenue was 70.2% for the three months ended September 30, 2024, a decrease from 72.0% in the same period of Fiscal 2024[150] - Revenue in the IE segment as a percentage of total revenue was 29.7% for the three months ended September 30, 2024, an increase from 27.9% in the same period in Fiscal 2024[156] - Revenue for the three months ended September 30, 2024, was $6,879 million, a decrease from $7,176 million in the same period of Fiscal 2024[183] Profitability and Income - Overall gross profit margin decreased by 1.6% to 23.7% for the first quarter of Fiscal 2025, from 25.3% for the same period in Fiscal 2024[147] - Income from operations was $133 for the first quarter of Fiscal 2025, an increase of $134 compared to a loss from operations of $1 for the same period in Fiscal 2024[147] - Basic loss per share for the first quarter of Fiscal 2025 was $0.06, compared to earnings per share of $0.06 in the same period in Fiscal 2024[147] - Overall gross margin decreased by 1.6% to 23.7% for the three months ended September 30, 2024, from 25.3% for the same period in Fiscal 2024[163] - Income from operations increased to $133 million for the three months ended September 30, 2024, compared to a loss of $1 million for the same period in Fiscal 2024[170] - Net loss attributable to common shareholders was $236 million for the three months ended September 30, 2024, a change of $466 million from a net income of $230 million for the same period in Fiscal 2024[178] Assets and Liabilities - Total assets increased by $400 to $42,940 as of September 30, 2024, compared to $42,540 as of June 30, 2024[147] - Total liabilities decreased by $1,462 to $9,500 as of September 30, 2024, compared to $10,962 as of June 30, 2024[147] - Trade accounts receivable increased by $1,433 million to $12,094 million as of September 30, 2024, from $10,661 million as of June 30, 2024[189] - Inventories decreased by $290 million to $2,872 million as of September 30, 2024, compared to $3,162 million as of June 30, 2024[191] - Accounts payable decreased by $800 million to $2,375 million as of September 30, 2024, compared to $3,175 million as of June 30, 2024, due to payments made to suppliers[193] - Accrued expenses decreased by $374 million to $3,260 million as of September 30, 2024, compared to $3,634 million as of June 30, 2024[194] - Contract liabilities increased by $73 million to $827 million as of September 30, 2024, compared to $754 million as of June 30, 2024, due to an increase in customer deposits received[194] Cash Flow and Expenses - Cash and cash equivalents decreased by $1,087 million to $8,948 million as of September 30, 2024, from $10,035 million as of June 30, 2024[188] - Net cash used in operating activities increased to an outflow of $1,857 million for the three months ended September 30, 2024, compared to an outflow of $24 million for the same period in Fiscal 2024[197] - Net cash provided by investing activities decreased by $733 million to $81 million for the three months ended September 30, 2024, compared to the same period in Fiscal 2024[198] - Net cash used in financing activities was $93 million for the three months ended September 30, 2024, a decrease of $237 million compared to cash inflow of $144 million during the same period in 2023[199] - General and administrative expenses decreased by $194 million, or 9.0%, from $2,158 million to $1,964 million for the three months ended September 30, 2024[168] - Interest expense decreased by $11 million, or 45.8%, to $13 million for the three months ended September 30, 2024, compared to $24 million for the same period in Fiscal 2024[171] Government Grants and Investments - The company received government grants amounting to $66 million for the three months ended September 30, 2024, compared to $73 million for the same period in Fiscal 2024[173] - Investment properties' net in China decreased to $404 million as of September 30, 2024, from $407 million as of June 30, 2024, primarily due to foreign currency exchange movements[192] - Property, plant and equipment increased by $336 million to $6,273 million as of September 30, 2024, from $5,937 million as of June 30, 2024, mainly due to foreign currency exchange movements[192] Capital Raising - The company filed a shelf registration statement to raise capital of up to $10,000 million for expansion of testing capacity and working capital purposes[200]