Trio-Tech International(TRT) - 2025 Q2 - Quarterly Results

Financial Performance - Total revenue for Q2 FY2025 was $8.6 million, down from $12.2 million year-over-year, representing a decrease of 29.5%[6] - Total revenue for the first six months of FY2025 was $18.4 million, down from $22.2 million year-over-year, a decrease of 17.1%[10] - Revenue for the three months ended December 31, 2024, was $8,619,000, a decrease of 29.1% compared to $12,202,000 for the same period in 2023[14] - Gross margin for Q2 FY2025 was $2.2 million, or 26% of revenue, compared to $2.9 million, or 23% of revenue a year ago[10] - Gross margin for the six months ended December 31, 2024, was $4,540,000, down from $5,374,000 in 2023, reflecting a decline of 15.5%[14] - Net income attributable to common shareholders for Q2 FY2025 was $507,000, unchanged from the previous year[10] - Net income attributable to common shareholders for the three months ended December 31, 2024, was $507,000, unchanged from the same period in 2023[14] - Basic earnings per share from continuing operations remained at $0.12 for both the three months ended December 31, 2024, and 2023[14] - Comprehensive loss attributable to common shareholders for the three months ended December 31, 2024, was $(1,263,000), compared to comprehensive income of $1,716,000 in 2023[16] Operating Expenses - Total operating expenses for Q2 FY2025 remained stable at $2.2 million compared to the same quarter last year[10] - Total operating expenses for the six months ended December 31, 2024, were $4,410,000, a decrease from $4,698,000 in 2023[14] Other Income and Losses - Other income for Q2 FY2025 was $678,000, primarily due to favorable foreign currency movements, compared to an expense of $100,000 a year ago[10] - The company reported other income of $678,000 for the three months ended December 31, 2024, compared to an expense of $(100,000) in the same period of 2023[14] - The company experienced a foreign currency translation loss of $(1,794,000) for the three months ended December 31, 2024[16] Market Focus and Growth - The company is actively engaging with potential new customers in the SiC and GaN markets, indicating a focus on high-efficiency power solutions[6] - The company anticipates continued growth in the SiC and GaN markets, driven by increasing demand for high-performance applications[6] Income from Operations - The company reported a loss from operations of $3,000 in Q2 FY2025, compared to income from operations of $677,000 a year ago[10] - Income from continuing operations before income taxes for the three months ended December 31, 2024, was $675,000, compared to $577,000 in 2023, an increase of 17%[14] Cash Position - Cash and cash equivalents increased to $10.3 million as of December 31, 2024, compared to $10.0 million on June 30, 2024[10] Share Information - The weighted average number of common shares outstanding for the three months ended December 31, 2024, was 4,403,404[15]