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Trio-Tech Reports 33% Sequential and 29% Year-over-Year Revenue Growth for First Quarter of Fiscal 2027

TRT
  • Trio-Tech International reported first-quarter fiscal 2027 revenue of $19.9 million, a 29% year-over-year increase.
  • Semiconductor Back-End Solutions (SBS) revenue grew 39% to $15.9 million, driven by 227% growth in burn-in board sales & an 18% rise in testing services.
  • Consolidated gross profit rose 59% to $4.1 million, with gross margin expanding to 20.6% from 16.7% in the prior-year quarter.
  • Operating income reached $1.3 million compared to $46,000 in the prior-year quarter, while operating expenses increased 13% to $2.9 million.
  • Net income attributable to common shareholders was $846,000, resulting in diluted earnings per share of $0.07.
  • The company's Malaysia facility began initial operations in September 2026 to support expanding demand in AI, data center, & EV applications.
  • Industrial Electronics revenue remained flat at $4.0 million, with aerospace sales up 63% offset by a 10% decline in distribution sales due to component shortages.
  • Total backlog as of September 30, 2026, was approximately $28.1 million, comprising $17.8 million in hard backlog & $10.3 million in soft backlog.
  • The Board approved an additional $1.0 million for the share repurchase program on November 9, 2026, & extended the program for 24 months.
  • Net cash used in operating activities was $3.3 million, reflecting increased investments in receivables & inventories to support growth.
  • Cash, equivalents, & deposits totaled $25.6 million at quarter-end, with a strong balance sheet including $46.3 million in shareholder equity.
  • Management expects SBS gross margins to moderate in the second quarter as AI-related testing services account for a larger revenue share.
  • Component shortages are anticipated to persist through the end of the second quarter of fiscal 2027, potentially affecting order fulfillment timing.