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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 | |
---|---|---|---|---|---|---|---|---|
-0.19 | -2.99% | 6.16 | 6.16 | 6.16 | 6.16 | 67 | 14:31:03 |
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
|
☒
|
|
|
|
Emerging growth company
|
☐
|
|
|
|
|
|
Title of each class of registered securities
|
|
Trading Symbol
|
|
Name of each exchange on which registered
|
Common Stock, no
par value
|
|
TRT
|
|
NYSE
MKT
|
|
|
Page
|
|
||
|
|
|
|
||
2
|
||
|
3
|
|
|
5
|
|
|
6
|
|
|
7
|
|
31
|
||
46
|
||
46
|
||
|
|
|
|
||
|
|
|
47
|
||
47
|
||
47
|
||
47
|
||
47
|
||
47
|
||
47
|
||
|
|
|
48
|
|
Three
Months Ended
|
Nine
Months Ended
|
||
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
|
2019
|
2018
|
2019
|
2018
|
Revenue
|
|
|
|
|
Manufacturing
|
$
3,097
|
$
3,124
|
$
10,086
|
$
11,862
|
Testing
services
|
3,989
|
4,913
|
12,819
|
14,454
|
Distribution
|
1,727
|
2,033
|
5,587
|
5,175
|
Real
Estate
|
25
|
34
|
81
|
110
|
|
8,838
|
10,104
|
28,573
|
31,601
|
Cost of Sales
|
|
|
|
|
Cost
of manufactured products sold
|
2,303
|
2,530
|
7,806
|
9,247
|
Cost
of testing services rendered
|
2,862
|
3,491
|
9,351
|
9,881
|
Cost
of distribution
|
1,483
|
1,821
|
4,831
|
4,598
|
Cost
of real estate
|
16
|
30
|
52
|
88
|
|
6,664
|
7,872
|
22,040
|
23,814
|
|
|
|
|
|
Gross Margin
|
2,174
|
2,232
|
6,533
|
7,787
|
|
|
|
|
|
Operating Expenses:
|
|
|
|
|
General
and administrative
|
1,742
|
1,773
|
5,223
|
5,339
|
Selling
|
246
|
181
|
580
|
612
|
Research
and development
|
76
|
75
|
270
|
377
|
Gain on disposal of property, plant and equipment
|
(13
)
|
(31
)
|
(13
)
|
(20
)
|
Total
operating expenses
|
2,051
|
1,998
|
6,060
|
6,308
|
|
|
|
|
|
Income from Operations
|
123
|
234
|
473
|
1,479
|
|
|
|
|
|
Other Income / (Expenses)
|
|
|
|
|
Interest
expenses
|
(74
)
|
(64
)
|
(250
)
|
(174
)
|
Other income,
net
|
128
|
111
|
220
|
311
|
Gain
on sale of assets held for sale
|
685
|
-
|
685
|
-
|
Total
other income
|
739
|
47
|
655
|
137
|
|
|
|
|
|
Income from Continuing Operations before Income
Taxes
|
862
|
281
|
1,128
|
1,616
|
|
|
|
|
|
Income Tax Expenses
|
(209
)
|
(980
)
|
(159
)
|
(1,035
)
|
|
|
|
|
|
Income
/ (loss) from continuing operations before non-controlling
interest, net of tax
|
653
|
(699
)
|
969
|
581
|
|
|
|
|
|
Discontinued Operations
|
|
|
|
|
Income
/ (loss) from discontinued operations, net of tax
|
2
|
(6
)
|
(2
)
|
(11
)
|
NET INCOME / (LOSS)
|
655
|
(705
)
|
967
|
570
|
|
|
|
|
|
Less:
net (loss) / income attributable to non-controlling
interest
|
(28
)
|
34
|
(129
)
|
61
|
Net Income / (Loss) Attributable to Trio-Tech International
Common Shareholders
|
$
683
|
$
(739
)
|
$
1,096
|
$
509
|
|
|
|
|
|
Amounts Attributable to Trio-Tech International Common
Shareholders:
|
|
|
|
|
Income
/ (loss) from continuing operations, net of tax
|
682
|
(736
)
|
1,097
|
520
|
Income
/ (loss) from discontinued operations, net of tax
|
1
|
(3
)
|
(1
)
|
(11
)
|
Net Income / (Loss) Attributable to Trio-Tech International Common
Shareholders
|
$
683
|
$
(739
)
|
$
1,096
|
$
509
|
|
|
|
|
|
Basic Earnings per Share:
|
|
|
|
|
Basic
per share from continuing operations attributable to Trio-Tech
International
|
$
0.19
|
$
(0.21
)
|
$
0.30
|
$
0.15
|
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
|
$
(0.21
)
|
$
0.30
|
$
0.15
|
|
|
|
|
|
Diluted Earnings per Share:
|
|
|
|
|
Diluted
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.19
|
$
(0.20
)
|
$
0.29
|
$
0.14
|
Diluted
earnings per share from discontinued operations attributable to
Trio-Tech International
|
$
-
|
$
-
|
$
-
|
$
-
|
Diluted Earnings per Share from Net Income
|
|
|
|
|
Attributable to Trio-Tech International
|
$
0.19
|
$
(0.20
)
|
$
0.29
|
$
0.14
|
|
|
|
|
|
Weighted
average number of common shares outstanding
|
|
|
|
|
Basic
|
3,673
|
3,553
|
3,673
|
3,553
|
Dilutive
effect of stock options
|
12
|
219
|
73
|
225
|
Number
of shares used to compute earnings per share diluted
|
3,685
|
3,772
|
3,746
|
3,778
|
|
Common
Stock
|
Additional Paid-in
|
Accumulated Retained
|
Accumulated Other
Comprehensive
|
Non- Controlling
|
|
|
|
Shares
|
Amount
|
Capital
|
Earnings
|
Income
|
Interest
|
Total
|
|
|
|
|
|
|
|
|
Balance
at June 30, 2018
|
3,553
|
$
11,023
|
$
3,249
|
$
5,525
|
$
2,182
|
$
1,522
|
$
23,501
|
Stock
option expenses
|
-
|
-
|
12
|
-
|
-
|
-
|
12
|
Net
income
|
-
|
-
|
-
|
1,096
|
-
|
(129
)
|
967
|
Dividend
declared by subsidiary
|
-
|
-
|
-
|
-
|
-
|
(125
)
|
(125
)
|
Exercise of stock
options
|
120
|
401
|
-
|
-
|
-
|
-
|
401
|
Translation
adjustment
|
-
|
-
|
-
|
-
|
(127
)
|
(62
)
|
(189
)
|
Balance
at Mar. 31, 2019
|
3,673
|
11,424
|
3,261
|
6,621
|
2,055
|
1,206
|
24,567
|
|
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
|
-
|
-
|
40
|
-
|
-
|
-
|
40
|
Net
income
|
-
|
-
|
-
|
509
|
-
|
61
|
570
|
Dividend
declared by subsidiary
|
-
|
-
|
-
|
-
|
-
|
(125
)
|
(125
)
|
Exercise of
options
|
20
|
51
|
-
|
-
|
-
|
-
|
51
|
Issue of restricted
shares to service provider
|
10
|
51
|
-
|
-
|
-
|
-
|
51
|
Translation
adjustment
|
-
|
-
|
-
|
-
|
1,615
|
194
|
1,809
|
Balance
at Mar. 31, 2018
|
3,553
|
11,013
|
3,246
|
4,850
|
3,248
|
1,556
|
23,923
|
|
|
|
|
|
|
|
|
|
Nine
Months Ended
|
|
|
Mar.
31,
|
Mar.
31,
|
|
2019
|
2018
|
|
(Unaudited)
|
(Unaudited)
|
Cash Flow from Operating Activities
|
|
|
Net
income
|
$
967
|
$
570
|
Adjustments
to reconcile net income to net cash flow provided by operating
activities
|
|
|
Gain
on sale of assets held for sale
|
(685
)
|
-
|
Depreciation
and amortization
|
1,777
|
1,594
|
Stock
compensation
|
12
|
40
|
Usage
of provision for obsolete inventory
|
(37
)
|
(4
)
|
Reversal
of income tax provision
|
(145
)
|
-
|
Bad
debt recovery
|
1
|
-
|
Accrued
interest expense, net accrued interest income
|
34
|
148
|
Gain
on sale of property, plant and equipment – continued
operations
|
(13
)
|
(20
)
|
Issuance
of shares to service provider
|
-
|
51
|
Warranty
recovery, net
|
(35
)
|
1
|
Fixed
assets written off
|
(33
)
|
-
|
Deferred
tax benefit / (provision)
|
78
|
33
|
Changes
in operating assets and liabilities, net of acquisition
effects
|
|
|
Trade
accounts receivable
|
626
|
392
|
Other receivables
|
(153
)
|
9
|
Other assets
|
489
|
(327
)
|
Inventories
|
60
|
(506
)
|
Prepaid expenses and other current assets
|
(99
)
|
7
|
Accounts payable and accrued expenses
|
60
|
250
|
Income taxes payable
|
58
|
884
|
Net Cash Provided by Operating Activities
|
2,962
|
3,122
|
|
|
|
Cash Flow from Investing Activities
|
|
|
Proceeds
from sale of assets held for sale
|
943
|
-
|
Proceeds
from maturing of unrestricted term deposits and short-term
deposits, net
|
-
|
484
|
Proceeds
from disposal of property, plant and equipment
|
3
|
42
|
Investments
in restricted and unrestricted deposits
|
(2,939
)
|
(281
)
|
Addition
to property, plant and equipment
|
(2,576
)
|
(2,050
)
|
Net Cash Used in Investing Activities
|
(4,569
)
|
(1,805
)
|
|
|
|
Cash Flow from Financing Activities
|
|
|
Repayment
on lines of credit
|
(7,316
)
|
(7,397
)
|
Repayment
of bank loans and capital leases
|
(625
)
|
(554
)
|
Dividends
paid on non-controlling interest
|
(125
)
|
(125
)
|
Proceeds
from exercising stock options
|
401
|
51
|
Proceeds
from bank loans and capital leases
|
7,470
|
6,570
|
Net Cash Used in Financing Activities
|
(195
)
|
(1,455
)
|
|
|
|
Effect of Changes in Exchange Rate
|
(125
)
|
742
|
|
|
|
Net (Decrease) / Increase in Cash, Cash Equivalents, and Restricted
Cash
|
(1,927
)
|
604
|
Cash, Cash Equivalents, and Restricted Cash at Beginning of
Period
|
8,234
|
4,772
|
Cash, Cash Equivalents, and Restricted Cash at End of
Period
|
$
6,307
|
$
5,376
|
|
|
|
Supplementary Information of Cash Flows
|
|
|
Cash
paid during the period for:
|
|
|
Interest
|
$
217
|
$
138
|
Income
taxes
|
$
114
|
$
225
|
|
|
|
Non-Cash Transactions
|
|
|
Capital
lease of property, plant and equipment
|
$
-
|
$
228
|
Reconciliation of Cash, Cash Equivalents, and Restricted
Cash
|
|
|
Cash
|
4,602
|
6,539
|
Restricted Term-Deposits in Non-Current Assets
|
1,705
|
1,695
|
Total Cash, Cash Equivalents, and Restricted Cash Shown in
Statement of Cash Flows
|
$
6,307
|
$
8,234
|
|
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.
(49% owned by
Trio-Tech International Pte. Ltd. and 51% owned by Trio-Tech
International (Thailand) Co.
Ltd.)
|
100%
|
Bangkok, Thailand
|
Trio-Tech
(Malaysia) Sdn. Bhd.
(55% owned by
Trio-Tech International Pte. Ltd.)
|
55%
|
Penang and Selangor, Malaysia
|
Trio-Tech
(Kuala Lumpur) Sdn. Bhd.
(100% owned by
Trio-Tech Malaysia Sdn. Bhd.)
|
55%
|
Selangor, Malaysia
|
Prestal
Enterprise Sdn. Bhd.
(76% owned by
Trio-Tech International Pte. Ltd.)
|
76%
|
Selangor, Malaysia
|
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
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
|
|
|
Short-term
deposits
|
$
3,615
|
$
606
|
Currency
translation effect on short-term deposits
|
31
|
47
|
Total short-term deposits
|
3,646
|
653
|
Restricted
term deposits
|
1,690
|
1,664
|
Currency
translation effect on restricted term deposits
|
15
|
31
|
Total restricted term deposits
|
1,705
|
1,695
|
Total term deposits
|
$
5,351
|
$
2,348
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
Beginning
|
$
259
|
$
247
|
Additions charged
to expenses
|
85
|
8
|
Recovered
|
(84
)
|
(1
)
|
Currency
translation effect
|
(4
)
|
5
|
Ending
|
$
256
|
$
259
|
|
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
|
|
-
|
-
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
Raw
materials
|
$
1,206
|
$
1,153
|
Work
in progress
|
1,839
|
1,947
|
Finished
goods
|
520
|
505
|
Currency
translation effect
|
13
|
20
|
Less:
provision for obsolete inventory
|
(660
)
|
(695
)
|
|
$
2,918
|
$
2,930
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
|
|
|
Beginning
|
$
695
|
$
686
|
Additions
charged to expenses
|
5
|
9
|
Usage
– disposition
|
(42
)
|
(5
)
|
Currency
translation effect
|
2
|
5
|
Ending
|
$
660
|
$
695
|
|
Investment
Date / Reclassification Date
|
Investment
Amount
(RMB)
|
Investment Amount
(U.S. Dollars
)
|
Purchase
of rental property – Property I – Mao Ye
Property
|
Jan
04, 2008
|
5,554
|
894
|
Currency
translation
|
|
-
|
(87
)
|
Reclassification
as “Assets held for sale”
|
July
01, 2018
|
(5,554
)
|
(807
)
|
Reclassification
from “Assets held for sale”
|
Mar
31, 2019
|
2,024
|
301
|
|
2,024
|
301
|
|
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
|
|
-
|
(93
)
|
Gross
investment in rental property
|
|
9,649
|
1,436
|
Accumulated
depreciation on rental property
|
Mar
31, 2019
|
(5,879
)
|
(875
)
|
Reclassified
as “Assets held for sale”
|
July
01, 2018
|
2,822
|
410
|
Reclassification
from “Assets held for sale”
|
Mar
31, 2019
|
(1,029
)
|
(143
)
|
|
(4,086
)
|
(608
)
|
|
Net investment in property – China
|
|
5,563
|
828
|
|
Investment Date
|
Investment
Amount
(RMB)
|
Investment Amount
(U.S. Dollars
)
|
Purchase
of rental property – Property I - Mao Ye
Property
|
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
|
|
-
|
(131
)
|
Gross
investment in rental property
|
|
13,179
|
1,991
|
Accumulated
depreciation on rental property
|
June
30, 2018
|
(5,596
)
|
(845
)
|
Net investment in property – China
|
|
7,583
|
1,146
|
|
Investment
Date
|
Investment
Amount
|
Investment
Amount
|
|
|
(RM)
|
(U.S.
Dollars)
|
Purchase
of Penang Property
|
Dec
31, 2012
|
681
|
181
|
Currency
translation
|
|
-
|
(16
)
|
Reclassification
as “Assets held for sale”
|
June
30, 2015
|
(681
)
|
(165
)
|
|
-
|
-
|
|
Accumulated
depreciation on rental property
|
June
30, 2015
|
(310
)
|
(83
)
|
Currency
translation
|
|
-
|
7
|
Reclassified
as “Assets held for sale”
|
June
30, 2015
|
(310
)
|
(76
)
|
Net
investment in rental property - Malaysia
|
|
-
|
-
|
|
Mar.
31, 2019
(Unaudited)
|
June
30,
2018
|
Down
payment for purchase of investment properties
|
$
1,645
|
$
1,645
|
Down
payment for purchase of property, plant and equipment
|
71
|
561
|
Deposits
for rental and utilities
|
140
|
140
|
Currency
translation effect
|
(128
)
|
(97
)
|
Total
|
$
1,728
|
$
2,249
|
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 1.83% to 5.5%
|
-
|
$
4,206
|
$
4,072
|
Trio-Tech
(Tianjin) Co., Ltd.
|
Lines
of Credit
|
5.22% to
6.3%
|
-
|
$
1,490
|
$
1,250
|
Universal (Far
East) Pte. Ltd.
|
Lines
of Credit
|
Ranging from 1.83% to 5.5%
|
-
|
$
369
|
$
121
|
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%
|
-
|
$
4,183
|
$
3,325
|
Trio-Tech
(Tianjin) Co., Ltd.
|
Lines
of Credit
|
5.22%
|
-
|
$
1,511
|
$
437
|
Universal (Far
East) Pte. Ltd.
|
Lines
of Credit
|
Ranging from 1.6% to 5.5%
|
-
|
$
367
|
$
256
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
Payroll
and related costs
|
$
1,129
|
$
1,545
|
Commissions
|
135
|
89
|
Customer
deposits
|
1,117
|
17
|
Legal
and audit
|
300
|
265
|
Sales
tax
|
16
|
17
|
Utilities
|
117
|
130
|
Warranty
|
47
|
82
|
Accrued
purchase of materials and property, plant and
equipment
|
355
|
454
|
Provision
for re-instatement
|
302
|
289
|
Other
accrued expenses
|
363
|
203
|
Currency
translation effect
|
1
|
81
|
Total
|
$
3,882
|
$
3,172
|
|
Mar.
31,
2019
(Unaudited)
|
June
30,
2018
|
Beginning
|
$
82
|
$
48
|
Additions
charged to cost and expenses
|
11
|
64
|
Reversal
|
(46
)
|
(30
)
|
Currency
translation effect
|
-
|
-
|
Ending
|
$
47
|
$
82
|
Current
portion of bank loan payable
|
495
|
380
|
Currency
translation effect on current portion of bank loan
|
(3
)
|
(13
)
|
Current portion of bank loan payable
|
492
|
367
|
Long
term portion of bank loan payable
|
2,465
|
1,528
|
Currency
translation effect on long-term portion of bank loan
|
(23
)
|
(91
)
|
Long term portion of bank loans payable
|
$
2,442
|
$
1,437
|
2019
|
$
492
|
2020
|
383
|
2021
|
375
|
2022
|
394
|
2023
|
205
|
Thereafter
|
1,085
|
Total
obligations and commitments
|
$
2,934
|
2019
|
$
367
|
2020
|
372
|
2021
|
242
|
2022
|
254
|
2023
|
267
|
Thereafter
|
302
|
Total
obligations and commitments
|
$
1,804
|
|
Mar 31, 2019
(Unaudited)
$
|
July 1, 2018 (Unaudited)
$
|
Trade
Accounts Receivable
|
7,120
|
7,747
|
Trade
Accounts Payable
|
3,021
|
3,704
|
Contract
Assets
|
357
|
260
|
Contract
Liabilities
|
1,077
|
31
|
|
Three
Months Ended
|
Nine
Months Ended
|
||
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
|
2019
|
2018
|
2019
|
2018
|
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
(Unaudited)
|
|
|
|
|
|
Income
attributable to Trio-Tech International common shareholders from
continuing operations, net of tax
|
$
682
|
$
(736
)
|
$
1,097
|
$
520
|
Income
/ (loss) attributable to Trio-Tech International common
shareholders from discontinued operations, net of tax
|
1
|
(3
)
|
(1
)
|
(11
)
|
Net Income Attributable to Trio-Tech International Common
Shareholders
|
$
683
|
$
739
|
$
1,096
|
$
509
|
|
|
|
|
|
Weighted
average number of common shares outstanding - basic
|
3,673
|
3,553
|
3,673
|
3,553
|
|
|
|
|
|
Dilutive
effect of stock options
|
12
|
219
|
73
|
225
|
Number
of shares used to compute earnings per share - diluted
|
3,685
|
3,772
|
3,746
|
3,778
|
|
|
|
|
|
Basic
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.19
|
(0.21
)
|
0.30
|
0.15
|
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
|
$
(0.21
)
|
$
0.30
|
$
0.15
|
|
|
|
|
|
Diluted
earnings per share from continuing operations attributable to
Trio-Tech International
|
$
0.19
|
(0.20
)
|
0.29
|
0.14
|
Diluted
earnings per share from discontinued operations attributable to
Trio-Tech International
|
-
|
-
|
-
|
-
|
Diluted Earnings Per Share from Net Income Attributable to
Trio-Tech International
|
$
0.19
|
$
(0.20
)
|
$
0.29
|
$
0.14
|
|
|
Nine Months
Ended
March
31,
|
||
|
|
2019
|
|
2018
|
|
|
|
|
|
Expected
volatility
|
|
47.29% to
97.48 %
|
|
47.29% to
104.94 %
|
Risk-free
interest rate
|
|
0.30% to 1.05
%
|
|
0.30% to 1.05
%
|
Expected life
(years)
|
|
2.50 –
3.25
|
|
2.50 –
3.25
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2018
|
60,000
|
$
5.98
|
4.73
|
$
-
|
Granted
|
16,000
|
3.75
|
4.68
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
March 31, 2019
|
76,000
|
5.51
|
4.13
|
-
|
Exercisable at
March 31, 2019
|
34,000
|
5.72
|
4.06
|
-
|
|
Options
|
Weighted Average
Grant-Date
Fair
Value
|
|
|
|
Non-vested at July 1,
2018
|
45,000
|
$
5.98
|
Granted
|
16,000
|
3.75
|
Vested
|
(19,000
)
|
(5.72
)
|
Forfeited
|
-
|
-
|
Non-vested at
March 31,
2019
|
42,000
|
$
5.34
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2017
|
-
|
$
-
|
-
|
$
-
|
Granted
|
60,000
|
5.98
|
4.98
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
March 31, 2018
|
60,000
|
5.98
|
4.98
|
-
|
Exercisable at
March 31, 2018
|
60,000
|
5.98
|
4.98
|
-
|
|
Options
|
Weighted Average
Grant-Date
Fair
Value
|
|
|
|
Non-vested
at July 1,
2017
|
-
|
$
-
|
Granted
|
60,000
|
5.98
|
Vested
|
(15,000
)
|
5.98
|
Forfeited
|
-
|
-
|
Non-vested
at March 31, 2018
|
45,000
|
3.83
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
Outstanding
at July 1, 2018
|
127,500
|
$
3.52
|
2.10
|
$
121
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
(50,000
)
|
3.25
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
March 31
, 2019
|
77,500
|
$
3.69
|
2.47
|
$
-
|
Exercisable
at March 31, 2019
|
68,125
|
$
3.62
|
2.40
|
$
-
|
|
Options
|
Weighted
Average Grant-Date
Fair
Value
|
Non-vested
at July 1, 2018
|
28,750
|
$
3.83
|
Granted
|
-
|
-
|
Vested
|
(19,375
)
|
4.14
|
Forfeited
|
-
|
-
|
Non-vested at
March 31
, 2019
|
9,375
|
$
4.14
|
|
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
March 31, 2018
|
127,500
|
3.52
|
2.35
|
285
|
Exercisable at
March 31, 2018
|
98,750
|
3.43
|
1.98
|
230
|
|
Options
|
Weighted Average
Grant-Date
Fair
Value
|
|
|
|
Non-vested at
July 1, 2017
|
48,125
|
$
3.77
|
Granted
|
-
|
-
|
Vested
|
(19,375
)
|
(3.43
)
|
Forfeited
|
-
|
-
|
Non-vested at March
31, 2018
|
28,750
|
$
3.83
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2018
|
80,000
|
$
5.98
|
4.73
|
$
-
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
March 31, 2019
|
80,000
|
5.98
|
3.98
|
-
|
Exercisable at
March 31, 2019
|
80,000
|
5.98
|
3.98
|
-
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2017
|
-
|
$
-
|
-
|
$
-
|
Granted
|
80,000
|
5.98
|
4.98
|
-
|
Exercised
|
-
|
-
|
-
|
-
|
Forfeited
or expired
|
-
|
-
|
-
|
-
|
Outstanding at
March 31, 2018
|
80,000
|
5.98
|
4.98
|
-
|
Exercisable at
March 31, 2018
|
80,000
|
5.98
|
4.98
|
-
|
|
Options
|
Weighted
Average
Exercise
Price
|
Weighted
Average
Remaining
Contractual
Term
(Years)
|
Aggregate
Intrinsic
Value
|
|
|
|
|
|
Outstanding
at July 1, 2018
|
390,000
|
$
3.41
|
2.05
|
$
412
|
Granted
|
-
|
-
|
-
|
-
|
Exercised
|
(70,000
)
|
3.39
|
-
|
-
|
Forfeited
or expired
|
(20,000
)
|
(3.62
)
|
-
|
-
|
Outstanding
at March 31, 2019
|
300,000
|
$
3.40
|
1.83
|
$
-
|
Exercisable
at March 31, 2019
|
300,000
|
$
3.40
|
1.83
|
$
-
|
|
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
|
(20,000
)
|
2.59
|
-
|
-
|
Forfeited
or expired
|
(5,000
)
|
2.07
|
-
|
-
|
Outstanding at
March 31, 2018
|
390,000
|
3.41
|
2.30
|
911
|
Exercisable at
March 31, 2018
|
390,000
|
3.41
|
2.30
|
911
|
|
Three Months
Ended
|
Nine
Months Ended
|
||
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
Mar.
31,
|
|
2019
|
2018
|
2019
|
2018
|
|
|
|
|
|
Manufacturing
|
35.0
%
|
30.9
%
|
35.3
%
|
37.5
%
|
Testing
Services
|
45.1
|
48.7
|
44.9
|
45.7
|
Distribution
|
19.6
|
20.1
|
19.5
|
16.4
|
Real
Estate
|
0.3
|
0.3
|
0.3
|
0.4
|
|
|
|
|
|
Total
|
100.0
%
|
100.0
%
|
100.0
%
|
100.0
%
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
|
|
|
Revenue
|
100.0
%
|
100.0
%
|
Cost
of sales
|
75.4
|
77.9
|
Gross Margin
|
24.6
%
|
22.1
%
|
Operating
expenses
|
|
|
General
and administrative
|
19.7
%
|
17.5
%
|
Selling
|
3.0
|
1.8
|
Research
and development
|
0.9
|
0.7
|
(Gain)/loss
on disposal of property, plant and equipment
|
(0.1
)
|
(0.3
)
|
Total
operating expenses
|
23.5
%
|
19.7
%
|
Income from Operations
|
1.4
%
|
2.4
%
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
General
and administrative
|
$
1,742
|
$
1,773
|
Selling
|
246
|
181
|
Research
and development
|
76
|
75
|
Gain
on disposal of property, plant & equipment
|
(13
)
|
(31
)
|
Total
|
$
2,051
|
$
1,998
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Interest expense
|
$
74
|
$
64
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Interest
income
|
$
31
|
$
19
|
Other
rental income
|
28
|
28
|
Exchange
loss
|
(11
)
|
(5
)
|
Other
miscellaneous income
|
80
|
69
|
Total
|
$
128
|
$
111
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
3,097
|
$
3,124
|
Gross margin
|
25.6
%
|
19.0
%
|
Loss from operations
|
$
(8
)
|
$
(105
)
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
3,989
|
$
4,913
|
Gross margin
|
28.3
%
|
28.9
%
|
(Loss)/income from operations
|
$
(17
)
|
$
428
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
1,727
|
$
2,033
|
Gross margin
|
14.1
%
|
10.4
%
|
Income from operations
|
$
150
|
$
117
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
25
|
$
34
|
Gross margin
|
36.0
%
|
11.8
%
|
Loss from operations
|
$
(13
)
|
$
(18
)
|
Gain
on sale of assets held for sale
|
$
685
|
-
|
|
Three Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Loss from operations
|
$
(11
)
|
$
(188
)
|
|
Nine Months
Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
Revenue
|
100.0
%
|
100.0
%
|
Cost
of sales
|
77.1
|
75.4
|
Gross Margin
|
22.9
%
|
24.6
%
|
Operating
expenses:
|
|
|
General
and administrative
|
18.3
%
|
16.9
%
|
Selling
|
2.1
|
1.9
|
Research
and development
|
0.9
|
1.2
|
Total
operating expenses
|
21.3
%
|
19.9
%
|
Income from Operations
|
1.6
%
|
4.7
%
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
General and
administrative
|
$
5,223
|
$
5,339
|
Selling
|
580
|
612
|
Research and
development
|
270
|
377
|
Gain
on disposal of property, plant and equipment
|
(13
)
|
(20
)
|
Total
|
$
6,060
|
$
6,308
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Interest expense
|
$
250
|
$
174
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
10,086
|
$
11,862
|
Gross margin
|
22.6
%
|
22.1
%
|
Income from operations
|
$
175
|
$
188
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
12,819
|
$
14,454
|
Gross margin
|
27.1
%
|
31.6
%
|
(Loss) / Income from operations
|
$
(134
)
|
$
1,281
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
5,587
|
$
5,175
|
Gross margin
|
13.5
%
|
11.1
%
|
Income from operations
|
$
492
|
$
337
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Revenue
|
$
81
|
$
110
|
Gross margin
|
35.8
%
|
20.0
%
|
Loss from operations
|
$
(30
)
|
$
(37
)
|
|
Nine
Months Ended
|
|
|
Mar.
31,
2019
|
Mar.
31,
2018
|
(Unaudited)
|
|
|
Loss from operations
|
$
(30
)
|
$
(290
)
|
|
TRIO-TECH INTERNATIONAL
|
|
|
By:
|
/s/ Victor H.M.
Ting
VICTOR
H.M. TING
Vice
President and Chief Financial Officer
(Principal
Financial Officer)
Dated:
May 14, 2019
|
1 Year Trio Tech Chart |
1 Month Trio Tech Chart |
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