Trio Tech International (TRT)

Trio-Tech International Announces Closing of Approximately $10 Million Registered Direct OfferingApril 28, 2026 4:15 PM
Business Wire
Trio-Tech International (“Trio-Tech” or the “Company”) (NYSE MKT: TRT), a comprehensive provider of semiconductor back-end solutions and a global value-added supplier of electronic equipment, today announced the closing of its previously announced registered direct offering with fundamental institutional investors.


The offering consisted of 1,052,632 shares of the Company’s common stock, generating gross proceeds of approximately $10 million to the Company, before deducting placement agent fees and other expenses. The transaction closed on April 27, 2026. The Company intends to use the net proceeds from the offering for working capital and general corporate purposes, including strategic investments to expand capacity and support growth opportunities in the AI and automotive markets.


D. Boral Capital LLC acted as the exclusive placement agent for the Offering.


“We are pleased to successfully complete this financing, which further strengthens our balance sheet and enhances our ability to execute on our growth initiatives,” said S.W. Yong, Chief Executive Officer of Trio-Tech International. “We intend to deploy the proceeds to expand our testing and manufacturing capabilities to meet increasing customer demand, particularly in high-growth areas such as AI and automotive semiconductor applications. We believe these investments strengthen our competitive position and drive long-term value for our shareholders.”


The securities described above were offered by the Company pursuant to a "shelf" Registration Statement on Form S-3 (File No. 333-291219) filed with the Securities and Exchange Commission (the "SEC") and declared effective by the SEC on December 16, 2025, and the accompanying prospectus contained therein. A final prospectus supplement and accompanying shelf prospectus describing the terms of the proposed offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and the accompanying shelf prospectus may be obtained by contacting D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022 by email to dbccapitalmarkets @Tin-Berrygood.


This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.


About Trio-Tech International


Trio-Tech International (NYSE MKT: TRT) is a California-based company operating in the United States, Singapore, Malaysia, Thailand, and China. Founded in 1958, Trio-Tech is a leading provider of semiconductor testing services, manufacturing solutions, and value-added distribution services. The Company’s diversified business segments include Semiconductor Back-End Solutions and Industrial Electronics.


Forward-Looking Statement


This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are subject to the "safe harbor" created by those sections for such statements. All statements other than statements of historical fact are forward-looking statements, including statements regarding the anticipated closing of the offering. These forward-looking statements are often indicated by terms such as "aim," "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "likely," "look forward to," "may," "objective," "plan," "potential," "predict," "project," "should," "slate," "target," "will," "would" and similar expressions and variations thereof. Forward-looking statements are based on management’s beliefs and assumptions and on information available to management only as of the date of this press release.


Trio-Tech’s actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including, without limitation, risks and uncertainties related to: whether the Company will be able to utilize the proceeds from the offering for as anticipated by management, market acceptance of Company products and services; the divestiture of one or more business segments in response to, among other factors, changing business conditions or technologies and volatility in the semiconductor industry, which could affect demand for the Company's products and services; the impact of competition; problems with technology; product development schedules; delivery schedules; changes in military or commercial testing specifications which could affect the market for the Company's products and services; difficulties in profitably integrating acquired businesses, if any, into the Company; risks associated with conducting business internationally and especially in Asia, including currency fluctuations and devaluation, currency restrictions, local laws and restrictions and possible social, political and economic instability; changes in U.S. and global financial and equity markets, including market disruptions and significant interest rate fluctuations; trade tension between U.S. and China and other economic, financial and regulatory factors beyond the Company's control, and the risks, uncertainties and other factors described under the heading "Risk Factors" in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on September 19, 2025, and in our subsequent filings with the SEC.


Should one or more of these risks or uncertainties materialize, or the underlying assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended, or planned. Given these risks, uncertainties and other factors, you should not place undue reliance on these forward-looking statements, and we assume no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428286727/en/
For inquiries, please contact:



PondelWilkinson Inc.

Todd Kehrli or Jim Byers

tkehrli@pondel.com

jbyers@pondel.com


Original: Trio-Tech International Announces Closing of Approximately $10 Million Registered Direct Offering

Trio-Tech Reports 82% Revenue Growth in Q2 FY2026, Reflecting Expanding Role in AI and EV Semiconductor Reliability TestingFebruary 13, 2026 8:30 AM
Business Wire
Trio-Tech International (NYSE MKT: TRT), a comprehensive provider of semiconductor back-end solutions and a global value-added supplier of electronic equipment, today announced financial results for its fiscal second quarter ended December 31, 2025. The Company reported 82% year-over-year revenue growth, driven primarily by strong demand for advanced semiconductor testing services supporting AI compute chips and EV power devices, along with continued growth in aerospace-related industrial electronics.


Trio-Tech International Chairman and CEO S.W. Yong’s Comments


Semiconductor Back-End Solutions Driving Growth


“We delivered a strong quarter marked by substantial revenue growth and improved operating performance, driven by continued momentum in our Semiconductor Back-End Solutions segment, which is increasingly serving customers developing AI compute chips and EV power devices that require advanced reliability and performance validation.


“Demand for final test services supporting next-generation semiconductor products remained robust during the quarter, reflecting our customers’ growing focus on device reliability, yield optimization, and compliance with increasingly stringent performance standards. As AI and electrification trends drive greater complexity in semiconductor design, our testing capabilities are becoming increasingly critical to our customers’ development and qualification processes.


“We believe Trio-Tech is well-positioned as a critical infrastructure partner for semiconductor reliability and performance validation, particularly for customers operating in high-growth, high-value markets such as AI and electric vehicles. At the same time, we continue to invest in our capabilities and regional footprint to capitalize on anticipated growth opportunities in these expanding end markets. Our focused approach, combined with expanding testing activity across Southeast Asia and increasing demand outside of China, continues to support strong segment performance.


“In our Industrial Electronics segment, revenue growth was driven by higher sales of aerospace-related products and increased equipment demand, reflecting the benefits of our ongoing expansion into diversified end markets. With a solid balance sheet and continued operational discipline, we remain focused on executing our strategy and positioning the Company for sustainable growth through the remainder of fiscal 2026.”


Fiscal 2026 Second Quarter Financial Results



Total revenue: $15.6 million, an 82% increase from $8.6 million in Q2 FY2025.



Semiconductor Back-End Solutions: $12.4 million, up 113% from $5.8 million in the prior year quarter, driven by higher testing volumes.



Industrial Electronics: $3.3 million, up 17% from $2.8 million, reflecting steady demand across industrial and commercial applications.



Gross margin: $2.5 million, or 16% of revenue, compared to $2.2 million, or 26%, in the prior year period; the decline reflects a higher proportion of lower-margin, high-volume testing services.



Operating income: $97 thousand, compared to an operating loss of $3 thousand in Q2 FY2025.



Net income attributable to common shareholders: $126 thousand, or $0.01 per diluted share, compared to $507 thousand, or $0.06 per diluted share, in the prior year quarter. The prior-year period included a $550 thousand foreign currency gain; excluding this item, the Company meaningfully improved its year-over-year profitability.



Cash, cash equivalents, and restricted cash: $19.2 million as of December 31, 2025, compared to $19.5 million at June 30, 2025.



Fiscal 2026 First Six Months Financial Results



Total revenue: $31.2 million, a 69% increase from $18.4 million in the year ago period.



Semiconductor Back-End Solutions: $23.8 million, up 88% from $12.7 million in the prior year period.



Industrial Electronics: $7.3 million, up 28% from $5.7 million in the year-ago period.



Gross margin: $5.1 million, or 16% of revenue, compared to $4.5 million, or 25%, in the prior year period.



Operating income: $143 thousand, compared to operating income of $130 thousand a year ago.



Net income attributable to common shareholders: $203 thousand, or $0.02 per diluted share, compared to $271 thousand, or $0.03 per diluted share, in the prior year period.



Outlook


Trio-Tech expects continued demand for its semiconductor back-end testing services through fiscal 2026, supported by customer programs for advanced and AI-related devices. The Company anticipates increased contributions from its Industrial Electronics segment. Trio-Tech remains focused on operational efficiency, disciplined capital allocation, and maintaining a strong liquidity position to support long-term growth and profitability.


About Trio-Tech International


Trio-Tech International (NYSE MKT: TRT) is a California-based company operating in the United States, Singapore, Malaysia, Thailand, and China. Founded in 1958, Trio-Tech is a leading provider of semiconductor testing services, manufacturing solutions, and value-added distribution services. The Company’s diversified business segments include Semiconductor Back-End Solutions and Industrial Electronics.


For more information, visit www.triotech.com and www.universalfareast.com.


Forward-Looking Statements


This press release contains statements that are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and assumptions regarding future activities and results of operations of the Company. In light of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, the following factors, among others, could cause actual results to differ materially from those reflected in any forward looking statements made by or on behalf of the Company: market acceptance of Company products and services; the divestiture of one or more business segments in response to, among other factors, changing business conditions or technologies and volatility in the semiconductor industry, which could affect demand for the Company's products and services; the impact of competition; problems with technology; product development schedules; delivery schedules; changes in military or commercial testing specifications which could affect the market for the Company's products and services; difficulties in profitably integrating acquired businesses, if any, into the Company; risks associated with conducting business internationally and especially in Asia, including currency fluctuations and devaluation, currency restrictions, imposition of tariffs, local laws and restrictions and possible social, political and economic instability; changes in U.S. and global financial and equity markets, including market disruptions and significant interest rate fluctuations; trade tension between U.S. and China and other economic, financial and regulatory factors beyond the Company's control. Other than statements of historical fact, all statements made in this release are forward looking, including, but not limited to, statements regarding industry prospects, future results of operations or financial position, and statements of our intent, belief and current expectations about our strategic direction, prospective and future financial results and condition. In some cases, you can identify forward looking statements by the use of terminology such as "may," "will," "expects," "plans," "anticipates," "estimates," "potential," "believes," "can impact," "continue," or the negative thereof or other comparable terminology. Forward looking statements involve risks and uncertainties that are inherently difficult to predict, which could cause actual outcomes and results to differ materially from our expectations, forecasts and assumptions. Many of these risks and uncertainties are beyond the Company's control. Reference is made to the discussion of risk factors detailed in the Company's filings with the Securities and Exchange Commission including its reports on Form 10-K and 10-Q. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates on which they are made.




TRIO-TECH INTERNATIONAL AND SUBSIDIARIES








CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS, EXCEPT NUMBER OF SHARES)











 



 






 






December 31,






 






June 30,








 






 






2025






 






2025








 






 






(Unaudited)






 






 






 






 








ASSETS






 






 






 






 






 






 






 






 








CURRENT ASSETS:






 






 






 






 






 






 






 






 








Cash and cash equivalents






 






$






12,404






 






 






$






10,890






 








Short-term deposits






 






 






4,059






 






 






 






5,817






 








Trade accounts receivable, less allowance for expected credit losses of $193 and $35, respectively






 






 






13,455






 






 






 






10,804






 








Other receivables






 






 






716






 






 






 






608






 








Inventories, less provision for obsolete inventories of $823 and $851, respectively






 






 






2,835






 






 






 






2,262






 








Prepaid expense and other current assets






 






 






389






 






 






 






384






 








Restricted term deposits






 






 






819






 






 






 






816






 








Total current assets






 






 






34,677






 






 






 






31,581






 








NON-CURRENT ASSETS:






 






 






 






 






 






 






 






 








Deferred tax assets






 






 






94






 






 






 






91






 








Investment properties, net






 






 






319






 






 






 






345






 








Property, plant and equipment, net






 






 






5,875






 






 






 






6,021






 








Operating lease right-of-use assets






 






 






2,551






 






 






 






864






 








Other assets






 






 






272






 






 






 






231






 








Restricted term deposits






 






 






1,941






 






 






 






1,935






 








Total non-current assets






 






 






11,052






 






 






 






9,487






 








TOTAL ASSETS






 






$






45,729






 






 






$






41,068






 








 






 






 






 






 






 






 






 






 








LIABILITIES






 






 






 






 






 






 






 






 








CURRENT LIABILITIES:






 






 






 






 






 






 






 






 








Lines of credit






 






$






401






 






 






$






141






 








Accounts payable






 






 






5,527






 






 






 






1,896






 








Accrued expense






 






 






4,624






 






 






 






3,036






 








Contract liabilities






 






 






128






 






 






 






250






 








Income taxes payable






 






 






122






 






 






 






122






 








Current portion of bank loans payable






 






 






271






 






 






 






256






 








Current portion of finance leases






 






 






13






 






 






 






43






 








Current portion of operating leases






 






 






617






 






 






 






540






 








Total current liabilities






 






 






11,703






 






 






 






6,284






 








NON-CURRENT LIABILITIES:






 






 






 






 






 






 






 






 








Bank loans payable, net of current portion






 






 






310






 






 






 






428






 








Operating leases, net of current portion






 






 






1,934






 






 






 






324






 








Deferred tax liabilities






 






 






14






 






 






 






10






 








Other non-current liabilities






 






 






32






 






 






 






31






 








Total non-current liabilities






 






 






2,290






 






 






 






793






 








TOTAL LIABILITIES






 






$






13,993






 






 






$






7,077






 








 






 






 






 






 






 






 






 






 








EQUITY






 






 






 






 






 






 






 






 








TRIO-TECH INTERNATIONAL SHAREHOLDERS’ EQUITY:






 






 






 






 






 






 






 






 








Common stock, no par value, 15,000,000 shares authorized; 8,736,110 and 8,625,610 shares issued outstanding as at December 31, 2025 and June 30, 2025, respectively






 






$






13,774






 






 






$






13,490






 








Paid-in capital






 






 






6,092






 






 






 






5,979






 








Accumulated retained earnings






 






 






11,068






 






 






 






12,037






 








Accumulated other comprehensive income-translation adjustments






 






 






2,579






 






 






 






2,522






 








Total Trio-Tech International shareholders’ equity






 






 






33,513






 






 






 






34,028






 








Non-controlling interest






 






 






(1,777






)






 






 






(37






)








TOTAL EQUITY






 






$






31,736






 






 






$






33,991






 








TOTAL LIABILITIES AND EQUITY






 






$






45,729






 






 






$






41,068






 









TRIO-TECH INTERNATIONAL AND SUBSIDIARIES








CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME / (LOSS)








UNAUDITED (IN THOUSANDS, EXCEPT EARNINGS PER SHARE)











 



 






 






Three Months Ended






 






Six Months Ended








 






 






December

31,






 






December

31,






 






December

31,






 






December

31,








 






 






2025






 






2024






 






2025






 






2024








Revenue






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Semiconductor Back-end Solutions






 






$






12,357






 






 






$






5,809






 






 






$






23,809






 






 






$






12,688






 








Industrial Electronics






 






 






3,284






 






 






 






2,801






 






 






 






7,336






 






 






 






5,715






 








Others






 






 






8






 






 






 






9






 






 






 






18






 






 






 






15






 








 






 






 






15,649






 






 






 






8,619






 






 






 






31,163






 






 






 






18,418






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Cost of Sales






 






 






13,150






 






 






 






6,401






 






 






 






26,079






 






 






 






13,878






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Gross Margin






 






 






2,499






 






 






 






2,218






 






 






 






5,084






 






 






 






4,540






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Operating Expense:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








General and administrative






 






 






2,197






 






 






 






1,965






 






 






 






4,371






 






 






 






3,929






 








Selling






 






 






99






 






 






 






176






 






 






 






370






 






 






 






326






 








Research and development






 






 






106






 






 






 






114






 






 






 






200






 






 






 






202






 








Gain on disposal of property, plant and equipment






 






 






-






 






 






 






(34






)






 






 






-






 






 






 






(47






)








Total operating expense






 






 






2,402






 






 






 






2,221






 






 






 






4,941






 






 






 






4,410






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income / (Loss) from Operations






 






 






97






 






 






 






(3






)






 






 






143






 






 






 






130






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Other Income / (Expense)






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Interest expense






 






 






(22






)






 






 






(13






)






 






 






(30






)






 






 






(26






)








Other income, net






 






 






237






 






 






 






686






 






 






 






422






 






 






 






321






 








Government grant






 






 






-






 






 






 






5






 






 






 






4






 






 






 






71






 








Total other income






 






 






215






 






 






 






678






 






 






 






396






 






 






 






366






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income from Continuing Operations before Income Taxes






 






 






312






 






 






 






675






 






 






 






539






 






 






 






496






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income Tax Expense






 






 






(77






)






 






 






(139






)






 






 






(141






)






 






 






(190






)








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income from Continuing Operations before Non-controlling Interest, Net of Taxes






 






 






235






 






 






 






536






 






 






 






398






 






 






 






306






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Discontinued Operations






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income / (Loss) from discontinued operations, net of tax






 






 






56






 






 






 






(7






)






 






 






58






 






 






 






-






 








Net Income






 






 






291






 






 






 






529






 






 






 






456






 






 






 






306






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Less: Net income attributable to non-controlling interest






 






 






165






 






 






 






22






 






 






 






253






 






 






 






35






 








Net Income Attributable to Common Shareholders






 






$






126






 






 






$






507






 






 






$






203






 






 






$






271






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Amounts Attributable to Common Shareholders:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Income from continuing operations, net of tax






 






 






95






 






 






 






511






 






 






 






171






 






 






 






271






 








Income / (Loss) from discontinued operations, net of tax






 






 






31






 






 






 






(4






)






 






 






32






 






 






 






-






 








Net Income Attributable to Common Shareholders






 






$






126






 






 






$






507






 






 






$






203






 






 






$






271






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Basic Earnings per Share:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Basic earnings per share from continuing operations






 






$






0.01






 






 






$






0.06






 






 






$






0.02






 






 






$






0.03






 








Basic earnings from discontinued operations






 






 






-






 






 






 






-






 






 






 






-






 






 






 






-






 








Basic Earnings per Share from Net Income






 






$






0.01






 






 






$






0.06






 






 






$






0.02






 






 






$






0.03






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Diluted Earnings per Share:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Diluted earnings per share from continuing operations






 






$






0.01






 






 






$






0.06






 






 






$






0.02






 






 






$






0.03






 








Diluted earnings per share from discontinued operations






 






 






-






 






 






 






-






 






 






 






-






 






 






 






-






 








Diluted Earnings per Share from Net Income






 






$






0.01






 






 






$






0.06






 






 






$






0.02






 






 






$






0.03






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Weighted Average Number of Common Shares Outstanding(1)






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Basic






 






 






8,697






 






 






 






8,501






 






 






 






8,662






 






 






 






8,500






 








Dilutive effect of stock options






 






 






667






 






 






 






306






 






 






 






383






 






 






 






238






 








Number of Shares Used to Compute Earnings Per Share Diluted






 






 






9,364






 






 






 






8,807






 






 






 






9,045






 






 






 






8,738






 









(1)






On January 5, 2026, the Company effected a two-for-one forward stock split of the Company's issued Common Stock. All share and per-share amounts included in the accompanying condensed consolidated financial statements have been retrospectively adjusted to reflect the stock split.









 






 






Three Months Ended






 






Six Months Ended








 






 






December

31,






 






December

31,






 






December

31,






 






December

31,








 






 






2025






 






2024






 






2025






 






2024








Comprehensive Income / (Loss) Attributable to Common Shareholders:






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 





 



 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 





 



Net income






 






$






291






 






 






$






529






 






 






$






456






 






 






$






306





 



Foreign currency translation, net of tax






 






 






465






 






 






 






(1,794






)






 






 






395






 






 






 






220





 



Comprehensive Income / (Loss)






 






 






756






 






 






 






(1,265






)






 






 






851






 






 






 






526





 



Less: comprehensive income / (loss) attributable to non-controlling interest






 






 






167






 






 






 






(2






)






 






 






292






 






 






 






137





 



Comprehensive Income / (Loss) Attributable to Common Shareholders






 






$






589






 






 






$






(1,263






)






 






$






559






 






 






$






389





 


 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260213079642/en/
For inquiries, please contact:


PondelWilkinson Inc.

Todd Kehrli or Jim Byers

tkehrli@pondel.com | jbyers@pondel.com


Original: Trio-Tech Reports 82% Revenue Growth in Q2 FY2026, Reflecting Expanding Role in AI and EV Semiconductor Reliability Testing