Trio-Tech Q1 revenue down 17% to $9.97M; net income $230K vs $882K YoY

TRIO-TECH INTERNATIONAL

2024-Q1 EPS reported $0.05 revenue$9,966,000

Revenue of $9.966M, down 17% from $11.939M in Q1 fiscal 2023, driven by lower testing services and manufacturing segment revenue.
Net income of $230K ($0.05 diluted EPS) compared to $882K ($0.21) in prior year; gross margin fell to 25% from 30%.
Cash and cash equivalents increased to $8.333M from $7.583M at June 30, 2023; shareholders' equity rose to $29.655M ($7.24 per share).
Delivered first dynamic power module test system under a previously announced contract; awaiting customer on-site buy off.
Management cites stabilization in key customer demand but remains cautious; anticipates recovery in distribution sales for fiscal 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TRIO-TECH INTERNATIONAL reported first quarter of fiscal 2024 results: revenue $9,966,000, net income $230,000, EPS $0.05 per diluted share.

Period: first quarter of fiscal 2024
Revenue: $9,966,000
Net income: $230,000
EPS: $0.05 per diluted share
Result: reported results

Exact text from the filing

Trio-Tech Reports First Quarter Results; Delivers First Dynamic Power Module Test System Van Nuys, CA -- November 13, 2023 – Trio-Tech International (NYSE MKT: TRT) today announced financial results for the first quarter of fiscal 2024. For the three months ended September 30, 2023, revenue decreased by 17% to $9,966,000 from $11,939,000 for the first quarter of fiscal 2023, primarily due to lower revenue in the Company’s testing services and manufacturing segments. Reflecting this decrease, gross margin declined to 25% of revenue compared to 30% of revenue for last year’s first quarter. Net income for the first quarter of fiscal 2024 was $230,000, or $0.05 per diluted share.

View on SEC.gov

Browse all earnings releases →

TRIO-TECH INTERNATIONAL filing history →

Source: SEC EDGAR

accession 0001437749-23-031432

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.