Trio-Tech Q2 operating income up 63% to $1.07M; revenue up 13% to $12.39M

For the three months ended December 31, 2022, revenue increased 13% to $12,390,000, compared to $10,922,000 for the same quarter last year, driven by a 43% increase in revenue in the Company’s manufacturing segment. Reflecting the growth in revenue and an increase in gross margin for the second quarter to 27% of revenue compared to 26% of revenue for the second quarter of fiscal 2022, operating income surged 63% to $1,069,000 compared to $656,000 last year. Net income for the second quarter of fiscal 2023 was $507,000, or $0.12 per diluted share, compared to net income of $855,000, or $0.20 per diluted share, for the second quarter of fiscal 2022.

For the first six months of fiscal 2023, revenue increased 15% to $24,329,000 compared to $21,093,000 for the same period last year. (more) 16139 Wyandotte Street, Van Nuys, CA 91406, USA ● TEL: (818) 787-7000 ● FAX (818) 787-9130 Trio-Tech Reports Second Quarter Results February 10, 2023 Page Two Gross margin for the first six months of fiscal 2023 increased 15% to $6,957,000 compared to $6,069,000 for the same period last year and represented approximately 29% of revenue for both periods. Income from operations increased 31% to $2,136,000, or 9% of revenue, compared to $1,626,000, or 8% of revenue, for the same period last year. Net income for the first half of fiscal 2023 was $1,389,000, or $0.33 per diluted share, compared to $1,772,000, or $0.43 per diluted share, for the same period last year.