Trio-Tech International Common Stock

Trio-Tech reported fourth-quarter non-GAAP earnings of $0.02 per share on revenue of $14.9 million, up 39.3% year over year. Total backlog stood at $24.2 million at June 30, 2026, compared with $11.0 million a year earlier, with SBS backlog of approximately $19.8 million and IE backlog of approximately $4.4 million. Net cash provided by operating activities rose to $3.4 million from $0.4 million in fiscal 2025, while cash, cash equivalents, short-term deposits and restricted term deposits totaled approximately $28.5 million, versus approximately $19.5 million at June 30, 2025. The company said it enters fiscal 2027 with continued demand for semiconductor back-end testing services across AI, high-performance computing and automotive applications, including EV and autonomous-vehicle semiconductors. During fiscal 2026, Trio-Tech delivered approximately $6.3 million of the previously announced $14.2 million in burn-in board-related orders, leaving approximately $7.9 million still to be delivered, and in the first quarter of fiscal 2027 it received an additional purchase order of approximately $1.5 million.

Trio-Tech International shares have surged 104.4% over the past three months, far outpacing the industry's 24.6% gain and the S&P 500's 14% rise. The rally is driven by strong demand for semiconductor reliability testing tied to AI computing and electric vehicle applications, along with new orders and capacity expansion in Malaysia. The company reported mixed fiscal third-quarter results, with revenue growth led by its Semiconductor Back-End Solutions business, but gross margin contracted due to a higher mix of lower-margin testing services and it continued to post an operating loss. Trio-Tech's valuation stands at 1.7 times trailing 12-month enterprise value to sales, below the industry average of 8.8 times but above its five-year median of 0.2 times. While the demand outlook remains positive, margin pressure and the lack of consistent quarterly operating profits remain key risks.