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

Financial Performance - Operating profit for the first quarter of fiscal 2025 was $133,000, a significant improvement from a loss of $1,000 in the same quarter of fiscal 2024[2] - Revenue decreased to $9,799,000, down 1.7% from $9,966,000 in the first quarter of fiscal 2024, primarily due to reduced demand for semiconductor services[2] - Gross margin was $2,322,000, representing 24% of revenue, compared to 25% of revenue in the first quarter of fiscal 2024[2] - Net loss was $236,000, or $0.06 per share, compared to net income of $230,000, or $0.05 per diluted share, for the first quarter of fiscal 2024[4] Expenses and Cost Management - General and administrative expenses decreased to $1,964,000, or 20% of revenue, down from $2,158,000, or 22% of revenue, in the prior year[3] - Total operating expenses fell 13% to $2,189,000, or 22% of revenue, compared to $2,521,000, or 25% of revenue, for the first quarter of fiscal 2024[3] Cash and Equity - Cash and cash equivalents decreased to $8,948,000 from $10,035,000 at the end of the previous quarter[5] - Shareholders' equity increased to $33,440,000, or $7.87 per outstanding share, compared to $31,578,000, or $7.43 per outstanding share, at the end of the previous quarter[6] - Total shareholders' equity rose to $33,052,000 from $31,329,000, representing an increase of 5.18%[18] - Paid-in capital increased to $5,602,000 from $5,531,000, a rise of 1.29%[18] - Accumulated retained earnings decreased to $11,577,000 from $11,813,000, a decline of 2.00%[18] - Non-controlling interest increased to $388,000 from $249,000, reflecting a growth of 55.42%[18] Assets and Liabilities - Total assets increased to $42,940,000 as of September 30, 2024, up from $42,540,000 on June 30, 2024, reflecting a growth of 0.94%[17] - Total liabilities and equity remained consistent at $42,940,000 as of September 30, 2024[18] Inventory and Receivables - Trade account receivables increased to $12,094,000, up 13.41% from $10,661,000[17] - Inventories decreased to $2,872,000, down 9.14% from $3,162,000[17] Strategic Focus - The company has adjusted its financial segment reporting to better align with its business focus, creating new segments for "Semiconductor Back-end Solutions" and "Industrial Electronics"[7] - The company aims to achieve profitability despite a volatile market environment by focusing on controllable factors[8] Other Comprehensive Income - Accumulated other comprehensive income-translation adjustments increased significantly to $2,548,000 from $660,000[18]