Trio-Tech International(US:TRT)2022-11-10 14:43Revenue Performance - Total revenue increased by $1,768, or 17.4%, to $11,939 for the first quarter of Fiscal 2023 compared to $10,171 for the same period in Fiscal 2022[140] - Testing segment revenue increased by $1,764, or 38.3%, to $6,364 for the first quarter of Fiscal 2023 compared to $4,600 for the same period in Fiscal 2022[140] - Manufacturing segment revenue increased by $23, or 0.6%, to $3,585 for the first quarter of Fiscal 2023 compared to $3,562 for the same period in Fiscal 2022[140] - Distribution segment revenue decreased by $16, or 0.0%, to $1,982 for the first quarter of Fiscal 2023 compared to $1,998 for the same period in Fiscal 2022[140] - Real estate segment rental revenue decreased by $3, or 27.3%, to $8 for the first quarter of Fiscal 2023 compared to $11 for the same period in Fiscal 2022[140] - Revenue for the three months ended September 30, 2022, was $6,364 million, an increase from $4,600 million for the same period in Fiscal 2022[184] Profitability Metrics - Overall gross profit margin decreased by 0.9% to 30.3% for the first quarter of Fiscal 2023 from 31.2% for the same period in Fiscal 2022[140] - Gross margin decreased by 1.0% to 30.3% for the three months ended September 30, 2022, compared to 31.2% for the same period in Fiscal 2022[164] - Net income attributable to common shareholders was $882 million for the three months ended September 30, 2022, a decrease of $35 from $917 million for the same period in Fiscal 2022[179] - Basic earnings per share from continuing operations were $0.22 for the three months ended September 30, 2022, compared to $0.23 for the same period in Fiscal 2022[180] Operating Performance - Income from operations was $1,067 for the first quarter of Fiscal 2023, an increase of $97 compared to $970 for the same period in Fiscal 2022[140] - Income from operations increased by $97 to $1,067 million for the three months ended September 30, 2022, compared to $970 million for the same period in Fiscal 2022[172] - The manufacturing segment reported revenue of $3,585 million with an income from operations of $176 million, down from $300 million in the same period of Fiscal 2022[183] - The testing segment's income from operations increased by $45 to $581 million for the three months ended September 30, 2022, compared to $536 million for the same period in Fiscal 2022[184] - Corporate operating profit was $58 million for the three months ended September 30, 2022, compared to a loss of $97 million in the same period of 2021[187] Expenses and Liabilities - Operating expenses increased by $346 to $2,555 million for the three months ended September 30, 2022, compared to $2,209 million for the same period in Fiscal 2022[170] - Interest expense rose by $16, or 57.1%, to $44 million for the three months ended September 30, 2022, compared to $28 million for the same period in Fiscal 2022[173] - Total liabilities increased by $568 to $15,987 as of September 30, 2022, compared to $15,419 as of June 30, 2022[140] Asset Management - Total assets increased by $384 to $43,805 as of September 30, 2022, compared to $43,421 as of June 30, 2022[140] - Cash and cash equivalents rose to $9,428 million as of September 30, 2022, an increase of $1,730 million from $7,698 million as of June 30, 2022[190] - Trade accounts receivable increased by $899 million to $12,491 million as of September 30, 2022, primarily due to increased overall revenue[192] - Inventories increased by $1,290 million to $3,548 million as of September 30, 2022, reflecting a backlog in the manufacturing segment[193] Cash Flow - Net cash provided by operating activities increased to an inflow of $1,561 million for the three months ended September 30, 2022, from an outflow of $711 million in the same period of Fiscal 2022[201] Future Capital Plans - The company may raise capital of $10,000,000 for expansion of testing capacity and working capital purposes[204]