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Trio-Tech International (TRT+0.85%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
The filing reports a decrease in total revenue to $8,619,000 for the second quarter of fiscal 2025, down from $12,202,000 in the same quarter the previous year. The decline is attributed to reduced demand in both the Semiconductor Back-end Solutions and Industrial Electronics segments.
Gross profit margin increased slightly to 25.7% from 23.4% in the previous year, despite the revenue decline. This was due to lower costs from fully depreciated assets in China.
General and administrative expenses rose to $1,965,000, up from $1,817,000, due to increased manpower costs and higher allowances for expected credit losses.
Net income attributable to common shareholders was $507,000, unchanged from the same quarter last year. Basic and diluted earnings per share remained at $0.12.
Total assets decreased to $39,800,000 from $42,540,000 as of June 30, 2024, primarily due to reductions in trade accounts receivable and inventories.
Total liabilities decreased to $7,571,000 from $10,962,000, reflecting lower accounts payable and accrued expenses.
The company reported a net cash inflow from operating activities of $254,000, a decrease from $1,367,000 in the previous year, due to higher payments to trade creditors.
Trio-Tech continues to focus on its strategy to reduce concentration in the semiconductor industry and expand its Industrial Electronics segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Trio-Tech International quarterly 10-Q report dated February 13, 2025. To report an error, please email earnings@qz.com.