Trio Tech Int - TRT STOCK NEWS

Trio-Tech International (NYSE MKT: TRT) reported a significant turnaround in its fourth quarter financial results for fiscal 2022, with net income increasing to $0.19 per share compared to a loss of $0.25 per share in the fourth quarter of 2021. The company achieved a 27% revenue gain for the quarter, totaling $11,834,000, driven by a 44% increase in testing services and an 82% rise in distribution revenue. For the fiscal year, total revenue rose 36% to $44.07 million, with gross margin improving to 27% of revenue.

Trio-Tech also reported a record backlog of $17.46 million, marking a 29% increase year-over-year.

Trio-Tech International (NYSE MKT: TRT) reported a 37% revenue increase to $11.14 million for Q3 fiscal 2022, up from $8.11 million year-over-year. Distribution revenue soared 147% to $3.62 million, while testing services rose 26% to $4.42 million. However, manufacturing revenue dipped 1% to $3.10 million. The net loss was $167,000 for Q3, compared to net income of $178,000 last year. For the first nine months, revenue jumped 39% to $32.23 million. The company established a joint venture in Suzhou, China, aimed at semiconductor services.

Trio-Tech International (NYSE MKT: TRT) reported robust financial results for Q2 and the first half of fiscal 2022. Q2 revenue surged 33% to $10.9 million, driven by a 39% rise in testing services and a remarkable 127% increase in distribution revenue. Net income skyrocketed 264% to $855,000, or $0.20 per diluted share. For the first half, revenue climbed 40% to $21.1 million, with net income soaring 681% to $1.77 million, or $0.43 per diluted share. Shareholders' equity also increased to $27.8 million. Despite optimistic growth, caution is advised for Q3 due to seasonal factors.

Trio-Tech International (NYSE MKT: TRT) has resumed full operations at its Tianjin, China facility following the lifting of lockdown measures by the Tianjin City Government on January 20, 2022. By January 21, 2022, the facility was operating at 100% capacity and is working to increase production output to address backlog. CEO S.W. Yong emphasized the company's commitment to health and safety protocols during the resumption. Trio-Tech is dedicated to cooperating with local authorities to ensure ongoing COVID-19 compliant operations.

Trio-Tech International (AMEX: TRT) has confirmed full compliance with the lockdown measures imposed by the Tianjin City Government due to a COVID-19 outbreak. The lockdown affects its Tianjin operations and necessitated the temporary closure of its production line. CEO S.W. Yong emphasized the company's commitment to health and safety, stating they are taking stringent measures to protect employees and the community. Trio-Tech plans to resume operations once the city allows it. Established in 1958, Trio-Tech specializes in semiconductor testing services and equipment.

Trio-Tech International (AMEX: TRT) has entered into a Joint Venture agreement with a Chinese company in Suzhou, China, to provide testing and burn-in services for semiconductor components in computing and automotive electronics. This facility will leverage both companies' expertise, particularly in System Level Testing (SLT), enhancing competitive advantage in the electric vehicle sector. Trio-Tech will maintain majority ownership of the joint venture, which aims to facilitate performance testing of integrated semiconductor assemblies. This collaboration is expected to drive future growth for the company.

Trio-Tech International (NYSE MKT: TRT) reported robust financial results for Q1 FY2022, with total revenue rising 49% to $10,171,000, up from $6,841,000 a year earlier. Manufacturing revenue grew by 36%, testing services by 56%, and distribution revenue by 59%. Gross margin increased to 31%, while operating expenses decreased to 22%. Operating income surged to $970,000, in contrast to a loss of $327,000 last year. Net income reached $917,000, or $0.23 per diluted share, compared to a net loss of $8,000. Shareholders' equity also rose to $26,704,000.

Trio-Tech International (NYSE MKT: TRT) reported a 30% revenue increase to $9,308,000 in Q4 fiscal 2021, driven by growth in manufacturing (40%) and testing services (36%). However, the fiscal year revenue fell 6% to $32,462,000. A significant one-time non-cash impairment charge of $1,580,000 related to a project in China resulted in a net loss of $996,000 for Q4 and $591,000 for the fiscal year. Despite challenges, backlog grew 45% to $13,503,000, and cash reserves increased 41% to $5,836,000. Gross margins improved, indicating effective cost control.

Trio-Tech International (NYSE MKT: TRT) reported its financial results for Q3 and the first nine months of fiscal 2021. Q3 revenue rose 24% to $3,130,000 driven by increased orders at its Singapore facility, while semiconductor testing services revenue fell 6% to $3,504,000, and distribution revenue dropped 34% to $1,467,000. Overall Q3 revenue decreased 5% to $8,112,000, but gross margin improved to 25%. For the nine months, total revenue decreased 15% to $23,154,000 with net income falling to $405,000. Shareholders' equity increased to $26,921,000.