Trio-Tech Q1 revenue up 17% to $11.9M; testing services revenue surges 38%

TRIO-TECH INTERNATIONAL

2022-Q1 EPS reported $0.21 revenue$11,939,000

Revenue $11.94M, up 17% YoY; testing services revenue rose 38% and manufacturing modest growth.
Net income $882K ($0.21 diluted EPS) vs $917K ($0.23) in prior year; gross margin 30% vs 31%.
Cash and short-term deposits $12.26M (~$3.00 per share); shareholders' equity $27.82M ($6.82/share).
CEO S.W. Yong cites encouraging backlog and strong balance sheet; cautiously optimistic for FY2023.

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 0.9

TRIO-TECH INTERNATIONAL reported the fiscal quarter ended September 30, 2022 results: revenue $11,939,000, net income $882,000, EPS $0.21 per diluted share.

Period: the fiscal quarter ended September 30, 2022
Revenue: $11,939,000
Net income: $882,000
EPS: $0.21 per diluted share
Result: reported results

Exact text from the filing

Trio-Tech International (NYSE MKT: TRT) today announced financial results for the first quarter of fiscal 2023. Revenue for the three months ended September 30, 2022 increased 17% to $11,939,000 compared to $10,171,000 for the three months ended September 30, 2021, highlighted by a 38% increase in testing services revenue. Overall gross margin increased 14%, but declined to 30% of revenue compared to 31% of revenue in the same quarter last year, primarily related to lower margin product mix at testing services and manufacturing operations. Net income for the first quarter of fiscal 2023 was $882,000, or $0.21 per diluted share, compared to net income of $917,000, or $0.23 per diluted share, for the first quarter last year.

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Source: SEC EDGAR

accession 0001851734-22-000656

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