Trio-Tech Q4 net income drops 79% to $162K; CEO S.W. Yong named Chairman

TRIO-TECH INTERNATIONAL

Q4 revenue $9.08M (-23.3% YoY); net income $162K ($0.04 EPS) vs $790K ($0.19).
FY2023 net income $1.54M ($0.37 EPS) vs $2.40M ($0.57); testing services +18.8% to $23.13M.
Distribution revenue fell 43.2% to $6.27M; manufacturing nearly flat at $13.83M.
Backlog $17.44M near record; cash $7.58M; equity $29.57M ($7.22/share).
CEO S.W. Yong appointed Chairman effective Sept 20, 2023, succeeding A. Charles Wilson.

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