Trio-Tech International(US:TRT)2025-05-13 14:26Revenue Performance - For the nine months ended March 31, 2025, total revenue was $25,802 million, a decrease of 20.7% from $32,566 million in the same period of 2024[69]. - The Semiconductor Back-end Solutions (SBS) segment generated revenue of $18,113 million in the nine months ended March 31, 2025, down 20.4% from $22,769 million in 2024[69]. - The Industrial Electronics (IE) segment reported revenue of $7,665 million for the nine months ended March 31, 2025, a decline of 21.6% compared to $9,778 million in 2024[69]. - Total revenue decreased by $3,014, or 29.0%, to $7,384 in the third quarter of Fiscal 2025, compared to $10,398 for the same period in Fiscal 2024[137]. - SBS segment revenue decreased by $2,272, or 29.5%, to $5,425 for the third quarter of Fiscal 2025, compared to $7,697 for the same period in Fiscal 2024[137]. - IE segment revenue decreased by $745, or 27.6%, to $1,950 for the third quarter of Fiscal 2025, compared to $2,695 for the same period in Fiscal 2024[137]. - Total SBS revenue decreased by $4,656 to $18,113 from $22,769 for the nine months ended March 31, 2025, compared to the same period in Fiscal 2024[142]. - Total IE revenue decreased by $2,113 from $9,778 to $7,665 for the nine months ended March 31, 2025, compared to the same period in Fiscal 2024[147]. Profitability and Loss - Gross profit for the total company was $6,516 million for the nine months ended March 31, 2025, down 19.4% from $8,077 million in the same period of 2024[69]. - The operating income for the total company was a loss of $213 million for the nine months ended March 31, 2025, compared to a profit of $735 million in 2024[69]. - The company recognized a net loss attributable to common shareholders of $495 million for the three months ended March 31, 2025, compared to a net income of $70 million for the same period in 2024[98]. - Basic loss per share from continuing operations was $(0.12) for the three months ended March 31, 2025, compared to earnings of $0.02 for the same period in 2024[98]. - Loss from operations was $343 for the three months ended March 31, 2025, reflecting a decline of $402 compared to income from operations of $59 for the same period in Fiscal 2024[143]. - Net loss attributable to common shareholders was $224 million for the nine months ended March 31, 2025, a negative swing of $1,031 million compared to net income of $807 million in the same period of 2024[186]. Assets and Liabilities - Total assets as of March 31, 2025, were $39,959 million, a decrease from $43,087 million as of March 31, 2024[69]. - As of March 31, 2025, trade accounts receivable amounted to $8,965 million, a decrease from $10,661 million as of June 30, 2024[94]. - Total assets decreased by $2,581 to $39,959 as of March 31, 2025, compared to $42,540 as of June 30, 2024[143]. - Total liabilities decreased by $3,731 to $7,231 as of March 31, 2025, compared to $10,962 as of June 30, 2024[143]. - Accounts payable decreased by $1,217 to $1,958 as of March 31, 2025, compared to $3,175 as of June 30, 2024, aligning with reduced procurement activity[199]. Cash Flow and Investments - Net cash provided by operating activities decreased by $1,483 to an inflow of $1,035 for the nine months ended March 31, 2025, from $2,518 for the same period in Fiscal 2024[207]. - Net cash used in investing activities was $101 for the nine months ended March 31, 2025, a variance of $557 compared to net cash provided by investing activities of $456 for the same period in Fiscal 2024[208]. - Net cash used in financing activities was $96 for the nine months ended March 31, 2025, representing a decrease of $18 compared to cash outflow of $78 during the same period in Fiscal 2024[209]. Government Grants and Taxation - The company received government grants totaling $93 million in the nine months ended March 31, 2025, compared to $89 million in the same period of 2024[74]. - The effective tax rate (ETR) from continuing operations was 933.3% for the nine months ended March 31, 2025, compared to 24.3% for the same period in 2024[77]. - The Company received government grants amounting to $22 for the three months ended March 31, 2025, compared to $12 in the same period of Fiscal 2024[163]. Stock Options and Compensation - The company granted 80,000 stock options during the nine-month period ended March 31, 2025, with a recognized stock-based compensation expense of $209 million[103]. - As of March 31, 2025, there were 348,250 stock options outstanding under the 2017 Employee Plan, with a weighted average exercise price of $5.55[106]. - The weighted average remaining contractual term for vested stock options as of March 31, 2025, was 2.60 years[105]. - The weighted average exercise price of vested stock options as of March 31, 2025, was $5.80, with a total of 471,000 shares covered and a remaining contractual term of 3.01 years[112]. - The Company recognized a stock-based compensation expense of $220,000 for the nine months ended March 31, 2024, with 49,000 stock options exercised during the same period[111]. Future Projections and Plans - The company plans to focus on segments with anticipated opportunities for future revenue growth, potentially divesting underperforming segments[71]. - Future minimum rental income from non-cancelable operating leases in China and Thailand is projected to be $139,000 from Fiscal 2025 to Fiscal 2029[115]. - The total future minimum lease payments for operating leases as of March 31, 2025, amount to $1,170,000, with a present value of net minimum lease payments of $1,105,000[120]. Operating Expenses - Total operating expenses increased to $6,729 million for the nine months ended March 31, 2025, from $7,342 million in the same period of 2024, with general and administrative expenses decreasing by 5.2%[177]. - Operating expenses for the three months ended March 31, 2025, totaled $2,319, a decrease of $325 from $2,644 in the same period of Fiscal 2024, primarily due to a 12.1% reduction in general and administrative expenses[158].