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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Trio Tech International | AMEX:TRT | AMEX | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 6.20 | 0 | 09:16:47 |
California
|
|
95-2086631
|
(State or other jurisdiction of
|
|
(I.R.S. Employer
|
incorporation or organization)
|
|
Identification Number)
|
|
|
|
16139 Wyandotte Street
|
|
|
Van Nuys, California
|
|
91406
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Large
Accelerated Filer
|
☐
|
|
Accelerated
Filer
|
☐
|
Non-Accelerated
Filer
|
☐
|
|
Smaller
reporting company
|
☒
|
(Do
not check if a smaller reporting company)
|
|
|
Emerging growth company
|
☐
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
|
2017
|
2016
|
2017
|
2016
|
Revenue
|
|
|
|
|
Manufacturing
|
$
3,973
|
$
3,320
|
$
8,738
|
$
6,991
|
Testing
services
|
4,936
|
4,070
|
9,541
|
8,227
|
Distribution
|
1,606
|
1,675
|
3,142
|
2,779
|
Others
|
37
|
39
|
76
|
78
|
|
10,552
|
9,104
|
21,497
|
18,075
|
Cost of Sales
|
|
|
|
|
C
ost
of manufactured products sold
|
3,068
|
2,622
|
6,717
|
5,417
|
Cost
of testing services rendered
|
3,251
|
2,658
|
6,390
|
5,472
|
Cost
of distribution
|
1,409
|
1,501
|
2,777
|
2,492
|
Others
|
29
|
29
|
58
|
42
|
|
7,757
|
6,810
|
15,942
|
13,423
|
Gross Margin
|
2,795
|
2,294
|
5,555
|
4,652
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
General
and administrative
|
1,727
|
1,776
|
3,566
|
3,519
|
Selling
|
252
|
180
|
431
|
365
|
Research
and development
|
118
|
52
|
302
|
105
|
Write
off of property, plant and equipment
|
-
|
8
|
11
|
8
|
Total
operating expenses
|
2,097
|
2,016
|
4,310
|
3,997
|
|
|
|
|
|
Income from Operations
|
698
|
278
|
1,245
|
655
|
|
|
|
|
|
Other Income / (Expenses)
|
|
|
|
|
Interest
expenses
|
(52
)
|
(48
)
|
(110
)
|
(106
)
|
Other income,
net
|
42
|
203
|
200
|
313
|
Total
other (expenses) / income
|
(10
)
|
155
|
90
|
207
|
|
|
|
|
|
Income from Continuing Operations before Income
Taxes
|
688
|
433
|
1,335
|
862
|
|
|
|
|
|
Income Tax Expenses
|
(13
)
|
(67
)
|
(55
)
|
(150
)
|
|
|
|
|
|
Income
from continuing operations before non-controlling interest, net of
tax
|
675
|
366
|
1,280
|
712
|
|
|
|
|
|
Discontinued Operations (Note 19)
|
|
|
|
|
Loss
from discontinued operations, net of tax
|
(2
)
|
(4
)
|
(5
)
|
(3
)
|
NET INCOME
|
673
|
362
|
1,275
|
709
|
|
|
|
|
|
Less:
net income attributable to non-controlling interest
|
-
|
52
|
27
|
96
|
Net Income Attributable to Trio-Tech International Common
Shareholders
|
$
673
|
$
310
|
$
1,248
|
$
613
|
|
|
|
|
|
Amounts Attributable to Trio-Tech International Common
Shareholders:
|
|
|
|
|
Income
from continuing operations, net of tax
|
678
|
316
|
1,254
|
619
|
Loss
from discontinued operations, net of tax
|
(5
)
|
(6
)
|
(6
)
|
(6
)
|
Net Income Attributable to Trio-Tech International Common
Shareholders
|
$
673
|
$
310
|
$
1,248
|
$
613
|
|
|
|
|
|
Basic Earnings per Share:
|
|
|
|
|
Basic
per share from continuing operations attributable to Trio-Tech
International
|
$
0.19
|
$
0.09
|
$
0.35
|
$
0.18
|
Basic
earnings per share from discontinued operations attributable to
Trio-Tech International
|
$
-
|
$
-
|
$
-
|
$
-
|
Basic Earnings per Share from Net Income
|
|
|
|
|
Attributable to Trio-Tech International
|
$
0.19
|
$
0.09
|
$
0.35
|
$
0.18
|
|
|
|
|
|
Diluted Earnings per Share:
|
|
|
|
|
Diluted
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.18
|
$
0.09
|
$
0.34
|
$
0.17
|
Diluted
earnings per share from discontinued operations attributable to
Trio-Tech International
|
$
-
|
$
-
|
$
-
|
$
-
|
Diluted Earnings per Share from Net Income
|
|
|
|
|
Attributable to Trio-Tech International
|
$
0.18
|
$
0.09
|
$
0.34
|
$
0.17
|
|
|
|
|
|
Weighted
average number of common shares outstanding
|
|
|
|
|
Basic
|
3,548
|
3,513
|
3,548
|
3,513
|
Dilutive
effect of stock options
|
245
|
56
|
222
|
39
|
Number
of shares used to compute earnings per share diluted
|
3,793
|
3,569
|
3,770
|
3,552
|
|
Common
Stock
|
Additional Paid-in
|
Accumulated Retained
|
Accumulated Other
Comprehensive
|
Non- Controlling
|
|
|
|
Shares
|
Amount
|
Capital
|
Earnings
|
Income
|
Interest
|
Total
|
|
$
|
$
|
$
|
$
|
$
|
$
|
|
Balance
at June 30, 2017
|
3,523
|
10,921
|
3,206
|
4,341
|
1,633
|
1,426
|
21,527
|
Stock
option expenses
|
-
|
-
|
2
|
-
|
-
|
-
|
2
|
Net
income
|
-
|
-
|
-
|
1,248
|
-
|
27
|
1,275
|
Dividend
declared by subsidiary
|
-
|
-
|
-
|
-
|
-
|
(123
)
|
(123
)
|
Exercise of
options
|
15
|
41
|
-
|
-
|
-
|
-
|
41
|
Issue of restricted
shares to service provider
|
10
|
51
|
-
|
-
|
-
|
-
|
51
|
Translation
adjustment
|
-
|
-
|
-
|
-
|
875
|
88
|
963
|
Balance
at Dec. 31, 2017
|
3,548
|
11,013
|
3,208
|
5,589
|
2,508
|
1,418
|
23,736
|
|
Common
Stock
|
Additional Paid-in
|
Accumulated Retained
|
Accumulated Other
Comprehensive
|
Non- Controlling
|
|
|
|
Shares
|
Amount
|
Capital
|
Earnings
|
Income
|
Interest
|
Total
|
|
$
|
$
|
$
|
$
|
$
|
$
|
|
Balance
at June 30, 2016
|
3,513
|
10,882
|
3,188
|
3,025
|
2,162
|
1,614
|
20,871
|
Stock
option expenses
|
-
|
-
|
1
|
-
|
-
|
-
|
1
|
Net
income
|
-
|
-
|
-
|
613
|
-
|
96
|
709
|
Stock
option expenses
|
-
|
-
|
-
|
-
|
-
|
(117
)
|
(117
)
|
Translation
adjustment
|
-
|
-
|
-
|
-
|
(1,244
)
|
(133
)
|
(1,377
)
|
Balance
at Dec. 31, 2016
|
3,513
|
10,882
|
3,189
|
3,638
|
918
|
1,460
|
20,087
|
|
Six
Months Ended
|
|
|
Dec.
31,
|
Dec.
31,
|
|
2017
|
2016
|
|
(Unaudited)
|
(Unaudited)
|
Cash Flow from Operating Activities
|
|
|
Net
income
|
$
1,275
|
$
709
|
Adjustments
to reconcile net income to net cash flow provided by operating
activities
|
|
|
Depreciation
and amortization
|
1,019
|
916
|
Stock
option expenses
|
2
|
1
|
Reversal
of provision for obsolete inventories
|
(3
)
|
(4
)
|
Bad
debt recovery, net
|
-
|
(16
)
|
Accrued
interest expense, net of accrued interest income
|
95
|
95
|
Write
off of property, plant and equipment - continued
operations
|
11
|
8
|
Issuance
of shares to service provider
|
51
|
-
|
Warranty
recovery, net
|
3
|
(9
)
|
Deferred
tax provision
|
(25
)
|
51
|
Changes
in operating assets and liabilities, net of acquisition
effect
|
|
|
Trade
accounts receivable
|
(484
)
|
1,265
|
Other
receivables
|
(147
)
|
280
|
Other
assets
|
(37
)
|
(226
)
|
Inventories
|
(1,153
)
|
(275
)
|
Prepaid
expenses and other current assets
|
(54
)
|
(99
)
|
Accounts
payable and accrued liabilities
|
934
|
1,001
|
Income
tax payable
|
59
|
(26
)
|
Net Cash Provided by Operating Activities
|
1,546
|
3,671
|
|
|
|
Cash Flow from Investing Activities
|
|
|
Proceeds
from maturing of unrestricted and restricted term deposits and
short-term deposits, net
|
484
|
-
|
Investments
in restricted and unrestricted deposits
|
(281
)
|
(421
)
|
Additions
to property, plant and equipment
|
(1,507
)
|
(764
)
|
Proceeds
from disposal of plant, property and equipment
|
-
|
83
|
Net Cash Used in Investing Activities
|
(1,304
)
|
(1,102
)
|
|
|
|
Cash Flow from Financing Activities
|
|
|
Repayment
on lines of credit
|
(4,978
)
|
(4,503
)
|
Proceeds
from bank loans and capital leases
|
5,045
|
3,516
|
Proceeds
from exercising of stock option
|
41
|
-
|
Dividends
paid to non-controlling interest
|
(123
)
|
(117
)
|
Repayment
of long-term bank loans and capital leases
|
(373
)
|
(371
)
|
Net Cash Used in by Financing Activities
|
(388
)
|
(1,475
)
|
|
|
|
Effect of Changes in Exchange Rate
|
433
|
(565
)
|
|
|
|
NET INCREASE IN CASH AND CASH EQUIVALENTS
|
287
|
529
|
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
|
4,772
|
3,807
|
CASH AND CASH EQUIVALENTS, END OF PERIOD
|
$
5,059
|
$
4,336
|
|
|
|
Supplementary Information of Cash Flows
|
|
|
Cash
paid during the period for:
|
|
|
Interest
|
$
91
|
$
91
|
Income
taxes
|
$
119
|
$
83
|
|
|
|
Non-Cash Transactions
|
|
|
Capital
lease of property, plant and equipment
|
$
228
|
$
49
|
|
Ownership
|
Location
|
Express Test Corporation (Dormant)
|
100%
|
Van Nuys, California
|
Trio-Tech Reliability Services (Dormant)
|
100%
|
Van Nuys, California
|
KTS Incorporated, dba Universal Systems (Dormant)
|
100%
|
Van Nuys, California
|
European Electronic Test Centre (Dormant)
|
100%
|
Dublin, Ireland
|
Trio-Tech International Pte. Ltd.
|
100%
|
Singapore
|
Universal (Far East) Pte. Ltd. *
|
100%
|
Singapore
|
Trio-Tech International (Thailand) Co. Ltd. *
|
100%
|
Bangkok, Thailand
|
Trio-Tech (Bangkok) Co. Ltd.
|
100%
|
Bangkok, Thailand
|
(49% owned by Trio-Tech International Pte. Ltd. and 51% owned by
Trio-Tech International (Thailand) Co. Ltd.)
|
|
|
Trio-Tech (Malaysia) Sdn. Bhd.
(55% owned by Trio-Tech International Pte. Ltd.)
|
55%
|
Penang and Selangor, Malaysia
|
Trio-Tech (Kuala Lumpur) Sdn. Bhd.
|
55%
|
Selangor, Malaysia
|
(100% owned by Trio-Tech Malaysia Sdn. Bhd.)
|
|
|
Prestal Enterprise Sdn. Bhd.
|
76%
|
Selangor, Malaysia
|
(76% owned by Trio-Tech International Pte. Ltd.)
|
|
|
Trio-Tech (SIP) Co., Ltd. *
|
100%
|
Suzhou, China
|
Trio-Tech (Chongqing) Co. Ltd. *
|
100%
|
Chongqing, China
|
SHI International Pte. Ltd. (Dormant)
(55% owned by Trio-Tech International Pte. Ltd)
|
55%
|
Singapore
|
PT SHI Indonesia (Dormant)
(100% owned by SHI International Pte. Ltd.)
|
55%
|
Batam, Indonesia
|
Trio-Tech (Tianjin) Co., Ltd. *
|
100%
|
Tianjin, China
|
|
Dec.
31,
2017
(Unaudited)
|
June
30,
2017
|
|
|
|
Short-term
deposits
|
$
598
|
$
824
|
Currency
translation effect on short-term deposits
|
44
|
(37
)
|
Total short-term deposits
|
642
|
787
|
Restricted
term deposits
|
1,660
|
1,722
|
Currency
translation effect on restricted term deposits
|
57
|
(65
)
|
Total restricted term deposits
|
1,717
|
1,657
|
Total Term deposits
|
$
2,359
|
$
2,444
|
|
Dec.
31,
2017
(Unaudited)
|
June
30,
2017
|
Beginning
|
$
247
|
$
270
|
Additions charged
to expenses
|
-
|
65
|
Recovered
|
(1
)
|
(78
)
|
Write-off
|
-
|
(2
)
|
Currency
translation effect
|
9
|
(8
)
|
Ending
|
$
255
|
$
247
|
|
Loan Expiry
Date
|
Loan Amount
(RMB)
|
Loan Amount
(U.S. Dollars)
|
Short-term loan receivables
|
|
|
|
JiangHuai
(Project – Yu Jin Jiang An)
|
May
31, 2013
|
2,000
|
325
|
Less:
allowance for doubtful receivables
|
|
(2,000
)
|
(325
)
|
Net loan receivables from property development
projects
|
|
-
|
-
|
|
|
|
|
Long-term loan receivables
|
|
|
|
Jun
Zhou Zhi Ye
|
Oct
31, 2016
|
5,000
|
814
|
Less:
transfer – down-payment for purchase of investment
property
|
|
(5,000
)
|
(814
)
|
Net loan receivables from property development
projects
|
|
-
|
-
|
|
Loan Expiry
Date
|
Loan Amount
(RMB)
|
Loan Amount
(U.S. Dollars)
|
Short-term loan receivables
|
|
|
|
JiangHuai
(Project – Yu Jin Jiang An)
|
May
31, 2013
|
2,000
|
325
|
Less:
allowance for doubtful receivables
|
|
(2,000
)
|
(325
)
|
Net loan receivables from property development
projects
|
|
-
|
-
|
|
|
|
|
Long-term loan receivables
|
|
|
|
Jun
Zhou Zhi Ye
|
Oct
31, 2016
|
5,000
|
814
|
Less:
transfer – down-payment for purchase of investment
property
|
|
(5,000
)
|
(814
)
|
Net loan receivables from property development
projects
|
|
-
|
-
|
|
Dec.
31,
2017
(Unaudited)
|
June
30,
2017
|
|
|
|
Raw
materials
|
$
1,107
|
$
1,047
|
Work
in progress
|
1,890
|
1,045
|
Finished
goods
|
598
|
365
|
Less:
provision for obsolete inventories
|
(697
)
|
(686
)
|
Currency
translation effect
|
74
|
(15
)
|
|
$
2,972
|
$
1,756
|
|
Dec.
31,
2017
(Unaudited)
|
June
30,
2017
|
|
|
|
Beginning
|
$
686
|
$
697
|
Additions
charged to expenses
|
-
|
6
|
Usage
- disposition
|
(3
)
|
(6
)
|
Currency
translation effect
|
14
|
(11
)
|
Ending
|
$
697
|
$
686
|
|
Investment Date
|
Investment
Amount
(RMB)
|
Investment Amount
(U.S. Dollars
)
|
Purchase
of rental property – Property I - MaoYe
|
Jan
04, 2008
|
5,554
|
894
|
Purchase
of rental property – Property II -
JiangHuai
|
Jan
06, 2010
|
3,600
|
580
|
Purchase
of rental property – Property III - Fu Li
|
Apr
08, 2010
|
4,025
|
648
|
Currency
translation
|
|
-
|
(95
)
|
Gross
investment in rental property
|
|
13,179
|
2,027
|
Accumulated
depreciation on rental property
|
Dec 31, 2017
|
(5,266
)
|
(810
)
|
Net investment in property – China
|
|
7,913
|
1,217
|
|
Investment Date
|
Investment
Amount
(RMB)
|
Investment Amount
(U.S. Dollars
)
|
Purchase
of rental property – Property I - MaoYe
|
Jan
04, 2008
|
5,554
|
894
|
Purchase
of rental property – Property II -
JiangHuai
|
Jan
06, 2010
|
3,600
|
580
|
Purchase
of rental property – Property III - Fu Li
|
Apr
08, 2010
|
4,025
|
648
|
Currency
translation
|
|
-
|
(178
)
|
Gross
investment in rental property
|
|
13,179
|
1,944
|
Accumulated
depreciation on rental property
|
June
30, 2017
|
(4,937
)
|
(728
)
|
Net investment in property – China
|
|
8,242
|
1,216
|
|
Investment Date
|
Investment
Amount (RM)
|
Investment Amount
(U.S.
Dollars)
|
Reclassification
of Penang Property I
|
Dec
31, 2012
|
681
|
181
|
Gross
investment in rental property
|
|
681
|
181
|
|
|
|
|
Accumulated
depreciation on rental property
|
June
30, 2015
|
(310
)
|
(83
)
|
Reclassified
as “Assets held for sale”
|
June
30, 2015
|
(371
)
|
(98
)
|
Net
investment in rental property - Malaysia
|
|
-
|
-
|
|
Dec.
31, 2017
(Unaudited)
|
June
30, 2017
|
Down
payment for purchase of investment properties
|
$
1,645
|
$
1,645
|
Down
payment for purchase of property, plant and equipment
|
219
|
280
|
Deposits
for rental and utilities
|
140
|
139
|
Currency
translation effect
|
(54
)
|
(142
)
|
Total
|
$
1,950
|
$
1,922
|
Entity
with
|
Type
of
|
Interest
|
Expiration
|
Credit
|
Unused
|
Facility
|
Facility
|
Rate
|
Date
|
Limitation
|
Credit
|
Trio-Tech
International Pte. Ltd., Singapore
|
Lines
of Credit
|
Ranging
from 1.6% to 5.5%
|
-
|
$
4,636
|
$
3,368
|
Trio-Tech
(Malaysia) Sdn. Bhd.
|
Lines
of Credit
|
Ranging
from 6.3% to 6.7%
|
-
|
$
776
|
$
776
|
Trio-Tech
(Tianjin) Co., Ltd.
|
Lines
of Credit
|
Ranging
from 4.9% to 6.3%
|
-
|
$
923
|
$
2
|
|
Dec.
31, 2017
(Unaudited)
|
June
30,
2017
|
Payroll
and related costs
|
$
1,554
|
$
1,568
|
Commissions
|
143
|
107
|
Customer
deposits
|
481
|
218
|
Legal
and audit
|
298
|
283
|
Sales
tax
|
129
|
80
|
Utilities
|
95
|
142
|
Warranty
|
52
|
49
|
Accrued
purchase of materials
|
352
|
33
|
Provision
for re-instatement
|
289
|
295
|
Other
accrued expenses
|
476
|
319
|
Currency
translation effect
|
116
|
(51
)
|
Total
|
$
3,985
|
$
3,043
|
|
Dec.
31,
2017
(Unaudited)
|
June
30,
2017
|
Beginning
|
$
48
|
$
76
|
Additions
charged to cost and expenses
|
19
|
46
|
Utilization/reversal
|
(15
)
|
(73
)
|
Currency
translation effect
|
1
|
(1
)
|
Ending
|
$
53
|
$
48
|
Current
portion of bank loans payable
|
346
|
271
|
Currency
translation effect on current portion of bank loans
|
10
|
(11
)
|
Current
portion of bank loans payable
|
356
|
260
|
Long
term portion of bank loans payable
|
1,535
|
1,660
|
Currency
translation effect on long-term portion of bank loans
|
82
|
(108
)
|
Long
term portion of bank loans payable
|
$
1,617
|
$
1,552
|
2018
|
$
356
|
2019
|
373
|
2020
|
298
|
2021
|
244
|
2022
|
127
|
Thereafter
|
575
|
Total obligations and commitments
|
$
1,973
|
2018
|
$
260
|
2019
|
273
|
2020
|
274
|
2021
|
225
|
2022
|
236
|
Thereafter
|
544
|
Total
obligations and commitments
|
$
1,812
|
Business Segment Information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Segment Information:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
|
2017
|
2016
|
2017
|
2016
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
Interest
income
|
12
|
8
|
20
|
12
|
Other
rental income
|
27
|
25
|
53
|
50
|
Exchange
(loss) / gain
|
(25
)
|
120
|
(31
)
|
182
|
Other
miscellaneous income
|
28
|
50
|
158
|
69
|
Total
|
$
42
|
$
203
|
$
200
|
$
313
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
|
2017
|
2016
|
2017
|
2016
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|
|
|
|
|
Income
attributable to Trio-Tech International common shareholders from
continuing operations, net of tax
|
$
678
|
$
316
|
$
1,254
|
$
619
|
(Loss)
/ income attributable to Trio-Tech International common
shareholders from discontinued operations, net of tax
|
(5
)
|
(6
)
|
(6
)
|
(6
)
|
Net Income Attributable to Trio-Tech International Common
Shareholders
|
$
673
|
$
310
|
$
1,248
|
$
613
|
|
|
|
|
|
Weighted
average number of common shares outstanding - basic
|
3,548
|
3,513
|
3,548
|
3,513
|
|
|
|
|
|
Dilutive
effect of stock options
|
245
|
56
|
222
|
39
|
Number
of shares used to compute earnings per share - diluted
|
3,793
|
3,569
|
3,770
|
3,552
|
|
|
|
|
|
Basic
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.19
|
0.09
|
0.35
|
0.18
|
Basic earnings
per share from discontinued operations attributable to Trio-Tech
International
|
-
|
-
|
-
|
-
|
Basic earnings per share from net income attributable to Trio-Tech
International
|
$
0.19
|
$
0.09
|
$
0.35
|
$
0.18
|
|
|
|
|
|
Diluted
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.18
|
0.09
|
0.34
|
0.17
|
Diluted
earnings per share from discontinued operations attributable to
Trio-Tech International
|
-
|
-
|
-
|
-
|
Diluted earnings per share from net income attributable to
Trio-Tech International
|
$
0.18
|
$
0.09
|
$
0.34
|
$
0.17
|
|
|
Six
Months Ended
December
31,
|
|
|
|
|||||||
|
|
2017
|
|
|
2016
|
|
|
|||||
|
|
|
|
|
|
|
|
|||||
Expected
volatility
|
|
|
60.41% to 104.94%
|
|
|
|
62.05%
to 104.94%
|
|
||||
Risk-free
interest rate
|
|
|
0.30% to 0.78%
|
|
|
|
0.30%
to 0.78%
|
|
||||
Expected
life (years)
|
|
|
2.50
|
|
|
|
2.50
|
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2017
|
127,500
|
$
3.52
|
3.10
|
$
187
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
December 31,
2017
|
127,500
|
$
3.52
|
2.60
|
$
445
|
Exercisable at
December 31,
2017
|
79,375
|
$
3.36
|
1.86
|
$
290
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2016
|
90,000
|
$
3.26
|
3.42
|
$
30
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
December 31,
2016
|
90,000
|
$
3.26
|
2.91
|
$
10
|
Exercisable at
December 31,
2016
|
60,000
|
$
3.26
|
2.26
|
$
8
|
|
Options
|
Weighted Average
Grant-Date
Fair
Value
|
|
|
|
Non-vested
at July 1, 2017
|
48,125
|
$
3.77
|
Granted
|
-
|
-
|
Vested
|
-
|
-
|
Forfeited
|
-
|
-
|
Non-vested at
December 31,
2017
|
48,125
|
$
3.77
|
|
|
|
|
Options
|
Weighted Average
Grant-Date
Fair
Value
|
|
|
|
Non-vested
at July 1, 2016
|
38,750
|
$
3.22
|
Granted
|
-
|
-
|
Vested
|
(8,750
)
|
(3.10
)
|
Forfeited
|
-
|
-
|
Non-vested at
December 31,
2016
|
30,000
|
$
3.26
|
|
|
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2017
|
415,000
|
$
3.36
|
2.93
|
$
673
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
(15,000
)
|
2.76
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
December 31,
2017
|
400,000
|
$
3.38
|
2.49
|
$
1,452
|
Exercisable at
December 31,
2017
|
400,000
|
$
3.38
|
2.49
|
$
1,452
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2016
|
415,000
|
$
3.14
|
3.29
|
$
198
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
(50,000
)
|
2.30
|
-
|
-
|
Outstanding at
December 31,
2016
|
365,000
|
$
3.25
|
3.18
|
$
68
|
Exercisable at
December 31,
2016
|
365,000
|
$
3.25
|
3.18
|
$
68
|
|
Three
Months Ended
|
Six
Months Ended
|
||
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
Dec.
31,
|
|
2017
|
2016
|
2017
|
2016
|
|
|
|
|
|
Manufacturing
|
37.7
%
|
36.5
%
|
40.6
%
|
38.7
%
|
Testing
Services
|
46.8
|
44.7
|
44.4
|
45.5
|
Distribution
|
15.2
|
18.4
|
14.6
|
15.4
|
Real
Estate
|
0.3
|
0.4
|
0.4
|
0.4
|
Total
|
100.0
%
|
100.0
%
|
100.0
%
|
100.0
%
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
|
|
|
Revenue
|
100.0
%
|
100.0
%
|
Cost
of sales
|
73.5
|
74.8
|
Gross Margin
|
26.5
%
|
25.2
%
|
Operating
expenses
|
|
|
General
and administrative
|
16.4
%
|
19.5
%
|
Selling
|
2.4
|
2.0
|
Research
and development
|
1.1
|
0.6
|
Loss
on disposal of property, plant and equipment
|
-
|
0.1
|
Total
operating expenses
|
19.9
%
|
22.2
%
|
Income from Operations
|
6.6
%
|
3.0
%
|
|
Three Months
Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
General
and administrative
|
$
1,727
|
$
1,776
|
Selling
|
252
|
180
|
Research
and development
|
118
|
52
|
Loss
on disposal of property, plant and equipment
|
-
|
8
|
Total
|
$
2,097
|
$
2,016
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Interest expense
|
$
52
|
$
48
|
|
Three Months
Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Interest
income
|
$
12
|
$
8
|
Other
rental income
|
27
|
25
|
Exchange
(loss)/ gain
|
(24
)
|
120
|
Other
miscellaneous income
|
27
|
50
|
Total
|
$
42
|
$
203
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
3,973
|
$
3,320
|
Gross margin
|
22.8
%
|
21.0
%
|
Income / (loss) from operations
|
$
107
|
$
(229
)
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
4,936
|
$
4,070
|
Gross margin
|
34.1
%
|
34.7
%
|
Income from operations
|
$
517
|
$
388
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
1,606
|
$
1,675
|
Gross margin
|
12.3
%
|
10.4
%
|
Income from operations
|
$
119
|
$
100
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
37
|
$
39
|
Gross margin
|
21.6
%
|
25.6
%
|
Loss from operations
|
$
(9
)
|
$
(8
)
|
|
Three
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
(Loss) / income from operations
|
$
(36)
|
$
27
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
|
|
|
Revenue
|
100.0
%
|
100.0
%
|
Cost
of sales
|
74.2
|
74.3
|
Gross Margin
|
25.8
%
|
25.7
%
|
Operating
expenses:
|
|
|
General
and administrative
|
16.6
%
|
19.6
%
|
Selling
|
2.0
|
2.0
|
Research
and development
|
1.4
|
0.6
|
Total
operating expenses
|
20.0
%
|
22.2
%
|
Income from Operations
|
5.8
%
|
3.5
%
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
General
and administrative
|
$
3,566
|
$
3,519
|
Selling
|
431
|
365
|
Research
and development
|
302
|
105
|
Loss
on disposal of property, plant and equipment
|
11
|
8
|
Total
|
$
4,310
|
$
3,997
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Interest expense
|
$
110
|
$
106
|
|
Six Months
Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Interest
income
|
$
20
|
$
12
|
Other
rental income
|
53
|
50
|
Exchange
(loss)/ gain
|
(30
)
|
182
|
Other
miscellaneous income
|
157
|
69
|
Total
|
$
200
|
$
313
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
8,738
|
$
6,991
|
Gross margin
|
23.1
%
|
22.5
%
|
Income / (loss) from operations
|
$
293
|
$
(322
)
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
9,541
|
$
8,227
|
Gross margin
|
33.0
%
|
33.5
%
|
Income from operations
|
$
853
|
$
790
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
3,142
|
$
2,779
|
Gross margin
|
11.6
%
|
10.3
%
|
Income from operations
|
$
220
|
$
134
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
Revenue
|
$
76
|
$
78
|
Gross margin / (loss)
|
23.7
%
|
46.2
%
|
Loss from operations
|
$
(19
)
|
$
(6
)
|
|
Six
Months Ended
|
|
|
Dec.
31,
2017
|
Dec.
31,
2016
|
(Unaudited)
|
|
|
(Loss) / income from operations
|
$
(102
)
|
$
59
|
31.1
|
|
Rule 13a-14(a) Certification of Principal Executive Officer of
Registrant
|
|
|
|
31.2
|
|
Rule 13a-14(a) Certification of Principal Financial Officer of
Registrant
|
|
|
|
32
|
|
Section 1350 Certification
|
|
|
|
|
TRIO-TECH INTERNATIONAL
|
|
|
By:
|
/s/
Victor H.M. Ting
VICTOR H.M. TING
Vice President and Chief Financial Officer
(Principal Financial Officer)
Dated: February 12, 2018
|
1 Year Trio Tech Chart |
1 Month Trio Tech Chart |
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