Trio-Tech International(TRT) - 2026 Q1 - Quarterly Results

Financial Performance - Trio-Tech reported total revenue of $15.5 million for Q1 FY2026, a 58% increase from $9.8 million in Q1 FY2025[4] - The Semiconductor Back-End Solutions segment generated $11.4 million, up 66% from $6.9 million year-over-year, driven by AI chip testing demand[4] - The Industrial Electronics segment achieved $4.0 million in revenue, a 39% increase from $2.9 million, reflecting growth in new aerospace channel sales[4] - Gross margin for Q1 FY2026 was $2.6 million, or 17% of revenue, down from 23% in the prior year due to lower-margin AI chip testing services[4] - Net income attributable to common shareholders was $77 thousand, or $0.02 per diluted share, compared to a net loss of $236 thousand in the prior year[9] Cash and Assets - Cash, cash equivalents, and restricted cash increased to $20.1 million as of September 30, 2025, up from $19.5 million at June 30, 2025[9] - Total assets increased to $47,378 million as of September 30, 2025, up from $41,068 million on June 30, 2025, representing a growth of approximately 15.6%[14] - Current assets rose to $37,641 million, compared to $31,581 million, reflecting an increase of about 19.2%[14] - Cash and cash equivalents increased to $12,262 million from $10,890 million, representing a growth of approximately 12.6%[14] - Trade accounts receivable rose to $15,860 million, up from $10,804 million, reflecting an increase of about 46.9%[14] - Inventories increased to $2,404 million, compared to $2,262 million, indicating a growth of approximately 6.3%[14] - Paid-in capital increased to $6,037 million from $5,979 million, reflecting a growth of about 1.0%[14] - Accumulated retained earnings rose to $12,114 million, up from $12,037 million, indicating a growth of approximately 0.6%[14] Liabilities and Equity - Total liabilities increased to $13,234 million, up from $7,077 million, marking an increase of approximately 86.8%[14] - Current liabilities surged to $11,954 million, compared to $6,284 million, indicating an increase of around 90.5%[14] - Total equity reached $34,144 million, a slight increase from $33,991 million, showing a growth of about 0.4%[14] Future Outlook - Trio-Tech anticipates continued momentum in fiscal 2026, with steady growth expected in the Industrial Electronics segment and additional revenue from AI chip testing services[5] - The company is focused on cost control, operational efficiency, and strategic growth investments to support profitability and cash generation[5] - The Semiconductor Back-End segment benefits from regional expertise in Southeast Asia and strong customer relationships[3] - U.S. sales in the Industrial Electronics segment have grown for two consecutive quarters, indicating increasing demand and a diversified portfolio[4]