Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Sep. 01, 2023 | Dec. 31, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000732026 | ||
Entity Registrant Name | TRIO-TECH INTERNATIONAL | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --06-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jun. 30, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 1-14523 | ||
Entity Incorporation, State or Country Code | CA | ||
Entity Tax Identification Number | 95-2086631 | ||
Entity Address, Address Line One | Block 1008 | ||
Entity Address, City or Town | Toa Payoh North | ||
Entity Address, Country | SG | ||
Entity Address, Postal Zip Code | 318996 | ||
City Area Code | 65 | ||
Local Phone Number | 6265 3300 | ||
Title of 12(b) Security | Common Stock, no par value | ||
Trading Symbol | TRT | ||
Security Exchange Name | NYSEAMER | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction [Flag] | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 10,863,000 | ||
Entity Common Stock, Shares Outstanding | 4,096,680 | ||
Auditor Name | Mazars LLP | ||
Auditor Location | Singapore | ||
Auditor Firm ID | 2136 |
Audited Consolidated Balance Sh
Audited Consolidated Balance Sheets ¥ in Thousands, $ in Thousands | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 7,583 | $ 7,698 |
Short-term deposits | 6,627 | 5,420 |
Trade accounts receivable, less allowance for doubtful accounts of $217 and $243, as of June 30, 2023, and June 30, 2022, respectively | 9,804 | 11,592 |
Other receivables | 939 | 998 |
Inventories, less provision for obsolete inventories of $648 and $674, as of June 30, 2023, and June 30, 2022, respectively | 2,151 | 2,258 |
Prepaid expenses and other current assets | 694 | 1,215 |
Assets held for sale | 274 | 0 |
Financed sales receivable | 16 | 21 |
Restricted term deposits | 739 | 0 |
Total current assets | 28,827 | 29,202 |
NON-CURRENT ASSETS: | ||
Deferred tax assets | 100 | 169 |
Investment properties, net | 474 | 585 |
Property, plant and equipment, net | 8,344 | 8,481 |
Operating lease right-of-use assets | 2,609 | 3,152 |
Other assets | 116 | 137 |
Financed sales receivable | 0 | 17 |
Restricted term deposits | 1,716 | 1,678 |
Total non-current assets | 13,359 | 14,219 |
TOTAL ASSETS | 42,186 | 43,421 |
Bank loans payable, net of current portion | 877 | 1,272 |
Finance leases, net of current portion | 42 | 119 |
Operating leases, net of current portion | 1,511 | 1,934 |
Income taxes payable, net of current portion | 255 | 137 |
Deferred tax liabilities | 10 | 0 |
Other non-current liabilities | 594 | 28 |
Total non-current liabilities | 3,289 | 3,490 |
TOTAL LIABILITIES | 12,615 | 15,419 |
CURRENT LIABILITIES: | ||
Lines of credit | 0 | 929 |
Accounts payable | 1,660 | 2,401 |
Accrued expenses | 5,568 | 6,004 |
Income taxes payable | 418 | 787 |
Current portion of bank loans payable | 475 | 472 |
Current portion of finance leases | 107 | 118 |
Current portion of operating leases | 1,098 | 1,218 |
Total current liabilities | 9,326 | 11,929 |
TRIO-TECH INTERNATIONAL’S SHAREHOLDERS’ EQUITY: | ||
Common stock, no par value, 15,000,000 shares authorized; 4,096,680 and 4,071,680 shares issued outstanding as of June 30, 2023 and June 30, 2022, respectively | 12,819 | 12,750 |
Paid-in capital | 5,066 | 4,708 |
Accumulated retained earnings | 10,763 | 9,219 |
Accumulated other comprehensive income-translation adjustments | 758 | 1,197 |
Total Trio-Tech International shareholders’ equity | 29,406 | 27,874 |
Non-controlling interest | 165 | 128 |
TOTAL EQUITY | 29,571 | 28,002 |
TOTAL LIABILITIES AND EQUITY | $ 42,186 | $ 43,421 |
Audited Consolidated Balance _2
Audited Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Allowance for doubtful accounts | $ 217 | $ 243 |
Provision for obsolete inventory | $ 648 | $ 674 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 15,000,000 | 15,000,000 |
Common stock, issued (in shares) | 4,096,680 | 4,071,680 |
Common stock, outstanding (in shares) | 4,096,680 | 4,071,680 |
Audited Consolidated Statements
Audited Consolidated Statements Of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue | ||
Revenues | $ 43,250 | $ 44,065 |
Cost of Sales | ||
Cost of goods and services sold | 31,545 | 32,332 |
Gross Margin | 11,705 | 11,733 |
Operating Expenses: | ||
General and administrative | 8,403 | 8,361 |
Selling | 670 | 643 |
Research and development | 397 | 375 |
Loss on disposal of property, plant and equipment | 7 | 1 |
Total operating expenses | 9,477 | 9,380 |
Income from Operations | 2,228 | 2,353 |
Other Income | ||
Interest expenses | (105) | (122) |
Other income | 106 | 595 |
Government Grant | 153 | 228 |
Total other income | 154 | 701 |
Income from Continuing Operations before Income Taxes | 2,382 | 3,054 |
Income Tax Expenses | (622) | (757) |
Income from Continuing Operations before Non-controlling Interest, Net of Tax | 1,760 | 2,297 |
Discontinued Operations | ||
(Loss) / Income from discontinued operations, net of tax | (2) | 2 |
NET INCOME | 1,758 | 2,299 |
Less: net income / (loss) attributable to non-controlling interest | 214 | (96) |
Net Income Attributable to Trio-Tech International Common Shareholders | 1,544 | 2,395 |
Amounts Attributable to Trio-Tech International Common Shareholders: | ||
Income from continuing operations, net of tax | 1,545 | 2,396 |
Loss from discontinued operations, net of tax | (1) | (1) |
Net Income Attributable to Trio-Tech International Common Shareholders | $ 1,544 | $ 2,395 |
Basic Earnings per Share: | ||
Basic earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | $ 0.38 | $ 0.61 |
Loss per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | (0.01) |
Basic Earnings per Share from Net Income Attributable to Trio-Tech International (in dollars per share) | 0.38 | 0.60 |
Diluted Earnings per Share: | ||
Diluted earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | 0.37 | 0.57 |
Diluted earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | 0 |
Diluted Earnings per Share from Net Income Attributable to Trio-Tech International (in dollars per share) | $ 0.37 | $ 0.57 |
Weighted average number of common shares outstanding | ||
Basic (in shares) | 4,082 | 3,972 |
Dilutive effect of stock options (in shares) | 83 | 202 |
Number of shares used to compute earnings per share diluted (in shares) | 4,165 | 4,174 |
Manufacturing [Member] | ||
Revenue | ||
Revenues | $ 13,827 | $ 13,526 |
Cost of Sales | ||
Cost of goods and services sold | 10,587 | 10,147 |
Testing Services [Member] | ||
Revenue | ||
Revenues | 23,130 | 19,477 |
Cost of Sales | ||
Cost of goods and services sold | 15,658 | 12,960 |
Distribution [Member] | ||
Revenue | ||
Revenues | 6,270 | 11,037 |
Cost of Sales | ||
Cost of goods and services sold | 5,228 | 9,147 |
Real Estate Segment [Member] | ||
Revenue | ||
Revenues | 23 | 25 |
Cost of Sales | ||
Cost of goods and services sold | $ 72 | $ 78 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Comprehensive Income Attributable to Trio-Tech International Common Shareholders: | ||
Net income | $ 1,758 | $ 2,299 |
Foreign currency translation, net of tax | (616) | (1,275) |
Comprehensive Income | 1,142 | 1,024 |
Less: comprehensive income / (loss) attributable to non-controlling interest | 37 | (169) |
Comprehensive Income Attributable to Trio-Tech International Common Shareholders | $ 1,105 | $ 1,193 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Jun. 30, 2021 | 3,913 | |||||
Balance at Jun. 30, 2021 | $ 12,178 | $ 4,233 | $ 6,824 | $ 2,399 | $ 419 | $ 26,053 |
Stock option expenses | 0 | 475 | 0 | 0 | 0 | 475 |
Net income | 0 | 0 | 2,395 | 0 | (96) | 2,299 |
Dividend declared by subsidiary | $ 0 | 0 | 0 | 0 | (122) | (122) |
Exercise of stock option (in shares) | 159 | |||||
Exercise of stock option | $ 572 | 0 | 0 | 0 | 0 | 572 |
Translation adjustment | $ 0 | 0 | 0 | (1,202) | (73) | (1,275) |
Balance (in shares) at Jun. 30, 2022 | 4,072 | |||||
Balance at Jun. 30, 2022 | $ 12,750 | 4,708 | 9,219 | 1,197 | 128 | 28,002 |
Stock option expenses | 0 | 358 | 0 | 0 | 0 | 358 |
Net income | $ 0 | 0 | 1,544 | 0 | 214 | 1,758 |
Exercise of stock option (in shares) | 25 | |||||
Exercise of stock option | $ 69 | 0 | 0 | 0 | 0 | 69 |
Translation adjustment | $ 0 | 0 | 0 | (439) | (177) | (616) |
Balance (in shares) at Jun. 30, 2023 | 4,097 | |||||
Balance at Jun. 30, 2023 | $ 12,819 | $ 5,066 | $ 10,763 | $ 758 | $ 165 | $ 29,571 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows $ in Thousands, ¥ in Millions | 12 Months Ended | |
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Cash Flow from Operating Activities | ||
Net income | $ 1,758 | $ 2,299 |
Adjustments to reconcile net income to net cash flow provided by operating activities | ||
Depreciation and amortization | 5,088 | 3,075 |
Stock compensation | 358 | 475 |
Addition of provision for obsolete inventories | 61 | 0 |
Reversal of obsolete inventories | (40) | 4 |
Payment of interest portion of finance lease | (10) | (21) |
Bad debt recovery, net of allowance charged | (11) | (58) |
(Accrued interest income), net accrued interest expense | (12) | 78 |
Reversal of income tax provision | 93 | (7) |
Assurance warranty recovery, net | 5 | 0 |
Deferred tax (benefit) / expenses | 106 | 40 |
Loss on sale of property, plant and equipment | 7 | 76 |
Repayment of operating lease | (1,300) | (1,151) |
Changes in operating assets and liabilities, net of acquisition effects | ||
Trade accounts receivable | 1,812 | (3,246) |
Other receivables | 59 | (336) |
Other assets | (10) | 118 |
Inventories | 230 | (252) |
Prepaid expenses and other current assets | 511 | (826) |
Accounts payable and accrued expenses | (811) | 1,532 |
Income taxes payable | (350) | 323 |
Other non-current liabilities | 566 | 0 |
Net Cash Provided by Operating Activities | 8,110 | 2,123 |
Cash Flow from Investing Activities | ||
Withdrawal from unrestricted term deposits | 5,140 | 3,103 |
Investment in unrestricted term deposits | (6,794) | (2,079) |
Proceeds from disposal of property, plant and equipment | 78 | 0 |
Additions to property, plant and equipment | (4,498) | (1,468) |
Net Cash Used in Investing Activities | (6,074) | (444) |
Cash Flow from Financing Activities | ||
Payment on lines of credit | (1,502) | (1,543) |
Payment of bank loans | (480) | (451) |
Payment of principal portion of finance leases | (120) | (193) |
Dividends paid to non-controlling interest | 0 | (125) |
Proceeds from exercising stock options | 69 | 572 |
Proceeds from lines of credit | 580 | 2,403 |
Proceeds from bank loans | 210 | 248 |
Net Cash (Used in) / Provided by Financing Activities | (1,243) | 911 |
Effect of Changes in Exchange Rate | (130) | (791) |
Net Increase in Cash, Cash Equivalents, and Restricted Cash | 662 | 1,799 |
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 9,376 | 7,577 |
Cash, Cash Equivalents, and Restricted Cash at End of Period | 10,038 | 9,376 |
Supplementary Information of Cash Flows | ||
Interest | 104 | 121 |
Income taxes | 558 | 403 |
Cash | 7,583 | 7,698 |
Restricted term deposits | 739 | 0 |
Restricted Term-Deposits in Non-Current Assets | 1,716 | 1,678 |
Total Cash, Cash Equivalents, and Restricted Cash Shown in Statements of Cash Flows | $ 10,038 | $ 9,376 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES. Basis of Presentation and Principles of Consolidation - “Company” “TTI” 1958 third June 30, 2023, four 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 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) (95% owned by SHI International Pte. Ltd.) 52% Batam, Indonesia Trio-Tech (Tianjin) Co., Ltd. * 100% Tianjin, China Trio-Tech (Jiangsu) Co., Ltd. (51% owned by Trio-Tech (SIP) Co., Ltd.) 51% Suzhou, China * 100% owned by Trio-Tech International Pte. Ltd. The consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“ U.S. GAAP All dollar amounts in the consolidated financial statements and in the notes herein are presented in thousands of United States dollars ( US$’000 Liquidity June 30, 2023 (“ Fiscal 2023 June 30, 2022 (“ Fiscal 2022 The Company’s core businesses, testing services, manufacturing and distribution, operate in a volatile industry, where average selling prices and product costs are influenced by competitive factors. These factors create pressures on sales, costs, earnings and cash flows, which can impact liquidity. Foreign Currency Translation and Transactions “SGD” “RM” “RMB” The Company translates assets and liabilities of its subsidiaries outside the U.S. into U.S. dollars using the rate of exchange prevailing at the fiscal year end, and the consolidated statements of operations and comprehensive income or loss is translated at average rates during the reporting period. Adjustments resulting from the translation of the subsidiaries’ financial statements from foreign currencies into U.S. dollars are recorded in shareholders' equity as part of accumulated other comprehensive gain - translation adjustments. Gains or losses resulting from transactions denominated in currencies other than functional currencies of the Company’s subsidiaries are reflected in income for the reporting period. Use of Estimates Revenue Recognition No. 2014 09, 606, Revenue from Contracts with Customers ASC Topic 606 We apply a five 606 1 2 3 4 5 Revenue derived from Testing is recognized when testing services are rendered. Revenue generated from sale of products in the Manufacturing and Distribution segments are recognized when persuasive evidence of an arrangement exists, delivery of the products has occurred, customer acceptance has been obtained (which means the control has been transferred to the customer), the price is fixed or determinable and collectability is reasonably assured. Certain customers can request for installation and training services to be performed for certain products sold in the Manufacturing segment. These services are mainly for helping customers with the test runs of the machines sold and are considered a separate performance obligation. Such services can be provided by other entities as well and these do not In the Real Estate segment: ( 1 2 may GST / Indirect Taxes Trade Account Receivables and Allowance for Doubtful Accounts not The Company’s management considers the following factors when determining the collectability of specific customer accounts: customer creditworthiness, past transaction history with the customer, current economic industry trends, and changes in customer payment terms. The Company includes any account balances that are determined to be uncollectible, along with a general reserve, in the overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to management, the Company believed that its allowance for doubtful accounts was adequate as of June 30, 2023 2022. Assurance Warranty Costs may Cash and Cash Equivalents three Term Deposits three Restricted Term Deposits Inventories first first “FIFO” not Property, Plant and Equipment and Investment Properties Maintenance, repairs and minor renewals are charged directly to expense as incurred. Additions and improvements to the assets are capitalized. When assets are disposed of, the related cost and accumulated depreciation thereon are removed from the accounts and any resulting gain or loss is included in the consolidated statements of operations and comprehensive income or loss. Long-Lived Assets and Impairment The Company evaluates the long-lived assets, including property, plant and equipment and investment property, for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not The Company applies the provisions of ASC Topic 360, Accounting for the Impairment or Disposal of Long-Lived Assets “ASC Topic 360” 360 may not Leases 842 When discount rates implicit in leases cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement to perform lease classification tests on lease components and to measure lease liabilities and ROU assets. The incremental borrowing rate used by the Company was based on baseline rates and adjusted by the credit spreads commensurate with the Company’s secured borrowing rate over a similar term. At each reporting period when there is a new lease initiated, the rates established for that quarter will be used. All of the leases under which the Company is the lessor will continue to be classified as operating leases and sales-type lease under the new standard. The new standard did not not Comprehensive Income or Loss 220, Reporting Comprehensive Income, ASC Topic 220 Income Taxes 740, Accounting for Income Taxes ASC Topic 740 . 740 The calculation of tax liabilities involves dealing with uncertainties in the application of complex global tax regulations. The Company recognizes potential liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. If payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no Retained Earnings June 30, 2023 2022, Research and Development Costs 2023 2022, Stock-based compensation four Determining the fair value of stock-based awards at the grant date requires significant judgment. The determination of the grant date fair value of stock-based awards using the Black-Scholes option-pricing model is affected by our estimated common stock fair value as well as other subjective assumptions including the expected term of the awards, the expected volatility over the expected term of the awards, expected dividend yield and risk-free interest rates. The assumptions used in our option-pricing model represent management’s best estimates and are as follows: • Fair Value of Common Stock. We determined the fair value of each share of underlying common stock based on the closing price of our common stock on the date of grant. • Expected Term. The expected term of employee stock options reflects the period for which we believe the option will remain outstanding based on historical experience and future expectations. • Expected Volatility. We base expected volatility on our historical information over a similar expected term. Earnings per Share Fair Values of Financial Instruments 16 ASC Topic 820 three ● Level 1—Valuations not 1 ● Level 2—Valuations not 2 ● Level 3—Valuations Concentration of Credit Risk not not not Investments not Equity Method 50% Cost Method not not not Loan Receivables from Property Development Projects Interest income on the loan receivables from property development projects are recognized on an accrual basis. Discounts and premiums on loans are amortized to income using the interest method over the remaining period to contractual maturity. The amortization of discounts into income is discontinued on loans that are contractually 90 Contingent Liabilities may may one may If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not Loss contingencies considered remote are generally not |
Note 2 - New Accounting Pronoun
Note 2 - New Accounting Pronouncements | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 2. In March 2022, 2022 02 326: Financial Instruments Credit Losses (Topic 326 TDR") and Vintage Disclosures 326 20. no In March 2020, 2020 04 848: Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting March 12, 2020, may December 31, 2022. no In June 2016, 2016 13 326: Financial Instruments Credit Losses 326” 326 December 15, 2022. no Other new pronouncements issued but not June 30, 2023 not |
Note 3 - Term Deposits
Note 3 - Term Deposits | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Term Deposits [Text Block] | 3. For the Year Ended June 30, 2023 2022 Short-term deposits $ 6,901 $ 5,619 Currency translation effect on short-term deposits (274 ) (199 ) Total short-term deposits 6,627 5,420 Restricted term deposits - Current 755 - Currency translation effect on restricted term deposits (16 ) - Total restricted term deposits - Current 739 - Restricted term deposits - Non-Current 1,763 1,746 Currency translation effect on restricted term deposits (47 ) (68 ) Total restricted term deposits - Non-Current 1,716 1,678 Total term deposits $ 9,082 $ 7,098 Restricted deposits represent the amount of cash pledged to secure loans payable or trade financing granted by financial institutions and serve as collateral for public utility agreements such as electricity and water, and performance bonds related to customs duty payable. Restricted deposits are classified as current and non-current depending on whether they relate to long-term or short-term obligations. As at year ended June 30, 2023, not |
Note 4 - Trade Account Receivab
Note 4 - Trade Account Receivables and Allowance for Doubtful Accounts | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. Account receivables are customer obligations due under normal trade terms. The Company performs continuing credit evaluations of its customers’ financial conditions, and although management generally does not may Senior management reviews trade account receivables on a periodic basis to determine if any receivables will potentially be uncollectible. Management includes any trade account receivables balances that are determined to be uncollectible in the allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to us, management believed the allowance for doubtful accounts as of June 30, 2023 June 30, 2022 The following table represents the changes in the allowance for doubtful accounts: For the Year Ended June 30, 2023 2022 Beginning $ 243 $ 311 Additions charged to expenses 9 48 Recovered (20 ) (106 ) Currency translation effect (15 ) (10 ) Ending $ 217 $ 243 |
Note 5 - Loans Receivable From
Note 5 - Loans Receivable From Property Development Projects | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Loan Receivable From Property Development Projects [Text Block] | 5. The following table presents Trio-Tech (Chongqing) Co. Ltd (“ TTCQ June 30, 2023. Loan Expiry Loan Amount Loan Amount Date (RMB) (U.S. Dollars) Short-term loan receivables JiangHuai (Project – Yu Jin Jiang An) May 31, 2013 2,000 276 Less: allowance for doubtful receivables (2,000 ) (276 ) Net loan receivables from property development projects - - Long-term loan receivables Jun Zhou Zhi Ye Oct 31, 2016 5,000 689 Less: transfer – down-payment for purchase of investment property (5,000 ) (689 ) Net loan receivables from property development projects - - The short-term loan receivables of renminbi (“ RMB 2,000, JiangHuai Project - Yu Jin Jiang An June 30, 2011. not 2023 2022. The long-term loan receivable of RMB 5,000, or approximately $689, arose from TTCQ entering into a Memorandum Agreement with JiaSheng Property Development Co. Ltd. (“ JiaSheng Project B- 48 2 June 30, 2011. June 30, 2015, 10 |
Note 6 - Inventories
Note 6 - Inventories | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6. Inventories consisted of the following: For the Year Ended June 30, 2023 2022 Raw materials $ 1,389 $ 1,764 Work in progress 1,132 683 Finished goods 178 238 Less: provision for obsolete inventories (648 ) (674 ) Currency translation effect 100 247 $ 2,151 $ 2,258 The following table represents the changes in provision for obsolete inventories: For the Year Ended June 30, 2023 2022 Beginning $ 674 $ 679 Additions charged to expenses 61 17 Usage – disposition (40 ) (34 ) Currency translation effect (47 ) 12 Ending $ 648 $ 674 |
Note 7 - Assets Held for Sale
Note 7 - Assets Held for Sale | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Assets Held for Sale [Text Block] | 7. During the fourth 2023, , to assets held for sale. August 2023, |
Note 8 - Investment Properties
Note 8 - Investment Properties | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Investment Property In China [Text Block] | 8 INVESTMENT PROPERTIES The following table presents the Company’s investment in properties in China as of June 30, 2023. June 30, 2023. Investment Date / Reclassification Investment Amount Investment Amount Date (RMB) (U.S. Dollars) Purchase of rental property – Property I – MaoYe 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 - FuLi Apr 08, 2010 4,025 648 Currency translation - (199 ) Gross investment in rental property 9,649 1,330 Accumulated depreciation on rental property Jun 30, 2023 (7,884 ) (1,123 ) Reclassified as “Assets held for sale”- MaoYe Property July 01, 2018 2,822 410 Reclassification from “Assets held for sale”- MaoYe Property Mar 31, 2019 (1,029 ) (143 ) (6,091 ) (856 ) Net investment in property China 3,558 474 The following table presents the Company’s investment in properties in China as of June 30, 2022. June 30, 2022. Investment Date / Reclassification Investment Amount Investment Amount Date (RMB) (U.S. Dollars) Purchase of rental property – Property I – MaoYe 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 - FuLi Apr 08, 2010 4,025 648 Currency translation - (89 ) Gross investment in rental property 9,649 1,440 Accumulated depreciation on rental property Jun 30, 2022 (7,523 ) (1,122 ) Reclassified as “Assets held for sale”- MaoYe Property July 01, 2018 2,822 410 Reclassification from “Assets held for sale”- MaoYe Property Mar 31, 2019 (1,029 ) (143 ) (5,730 ) (855 ) Net investment in property China 3,919 585 Rental Property I - MaoYe Property During the year ended June 30, 2008, MaoYe June 30, 2019, thirteen fifteen not two February 1, 2023 4 RMB14, 5% Property purchased from MaoYe generated a rental income of $14 and $4 for Fiscal 2023 2022, Depreciation expense for MaoYe was $15 and $16 for Fiscal 2023 2022, Rental Property II - JiangHuai During the year ended June 30, 2010, 8 JiangHuai June 30, 2023, not not 19 Property purchased from JiangHuai did not 2023 2022. Depreciation expense for JiangHuai was $26 and $28 for Fiscal 2023 2022, Rental Property III FuLi In Fiscal 2010, FuLi two Office Space 4,025, April 2013 third 2014. In August 2022, one two 1 RMB6, Properties purchased from FuLi generated a rental income of $10 and $21 for Fiscal 2023 2022, Depreciation expense for FuLi was $30 and $31 for Fiscal 2023 2022, Summary Total rental income for all investment properties in China was $24 and $25 for Fiscal 2023 2022, Depreciation expense for all investment properties in China was $71 and $75 for Fiscal 2023 2022, |
Note 9 - Property, Plant and Eq
Note 9 - Property, Plant and Equipment | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property, plant and equipment consisted of the following: Estimated Useful For the Year Ended June 30, Life in Years 2023 2022 Building and improvements 3-20 $ 5,243 $ 5,190 Leasehold improvements 3-27 9,623 6,545 Machinery and equipment 3-7 28,001 27,172 Furniture and fixtures 3-5 1,308 1,234 Equipment under finance leases 3-5 1,525 1,413 Property, plant and equipment, gross $ 45,700 $ 41,554 Less: accumulated depreciation (33,110 ) (30,116 ) Accumulated amortization on equipment under finance leases (1,402 ) (1,330 ) Total accumulated depreciation $ (34,512 ) $ (31,446 ) Property, plant and equipment before currency translation effect, net $ 11,188 $ 10,108 Currency translation effect (2,844 ) (1,627 ) Property, plant and equipment, net $ 8,344 $ 8,481 Depreciation and amortization expense for property, plant and equipment during Fiscal 2023 2022 |
Note 10 - Other Assets
Note 10 - Other Assets | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | 10. Other assets consisted of the following: For the Year Ended June 30, 2023 2022 Deposits for rental and utilities and others 117 142 Currency translation effect (1 ) (5 ) Total $ 116 $ 137 *Down payment for purchase of investment properties included: 2023 RMB U.S. Dollars Original Investment (10% of Junzhou equity) $ 10,000 $ 1,606 Less: Management Fee (5,000 ) (803 ) Net Investment 5,000 803 Less: Share of Loss on Joint Venture (137 ) (22 ) Net Investment as Down Payment (Note *a) 4,863 781 Loans Receivable 5,000 689 Interest Receivable 1,250 172 Less: Impairment of Interest (906 ) (125 ) Transferred to Down Payment (Note *b) 5,344 736 * Down Payment for Purchase of Investment Properties 10,207 1,407 Add: Effect of foreign currency exchange - 133 Less: Provision of Impairment loss on other assets (10,207 ) (1,580 ) * Down Payment for Purchase of Investment Properties $ - $ - a) In Fiscal 2011, Agreement Developer Joint Venture Junzhou Project RMB10,000 $22, In Fiscal 2014, 10% not $803K, 845 Non-monetary Consideration b) Amounts of RMB 5,000, or approximately $689, as disclosed in Note 5, The shop lots are to be delivered to TTCQ upon completion of the construction of the shop lots in Singapore Themed Resort Project. The initial targeted date of completion was in Fiscal 2017. During the fourth 2021, June 30, 2023. |
Note 11 - Lines of Credit
Note 11 - Lines of Credit | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Line of Credit [Text Block] | 11. The carrying value of the Company’s lines of credit approximates its fair value, because the interest rates associated with the lines of credit are adjustable in accordance with market situations when the Company borrowed funds with similar terms and remaining maturities. The Company’s credit rating provides it with readily and adequate access to funds in global markets. As of June 30, 2023, Entity with Type of Interest Credit Unused Facility Facility Rate Limitation Credit Trio-Tech International Pte. Ltd., Singapore Lines of Credit Cost of Funds Rate +1.25% to +1.3% $ 3,907 $ 3,701 Universal (Far East) Pte. Ltd. Lines of Credit Cost of Funds Rate +1.25% to +1.3% $ 1,843 $ 1,559 Trio-Tech Malaysia Sdn. Bhd. Revolving credit Cost of Funds Rate +2% $ 319 $ 319 As of June 30, 2022, Entity with Type of Interest Credit Unused Facility Facility Rate Limitation Credit Trio-Tech International Pte. Ltd., Singapore Lines of Credit Ranging from 1.85% to 5.5% $ 4,090 $ 3,651 Universal (Far East) Pte. Ltd. Lines of Credit Ranging from 1.85% to 5.5% $ 1,076 $ 586 Trio-Tech Malaysia Sdn. Bhd. Revolving credit Cost of Funds Rate +2% $ 338 $ 338 |
Note 12 - Accrued Expense
Note 12 - Accrued Expense | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 12. Accrued expense consisted of the following: For the Year Ended June 30, 2023 2022 Payroll and related costs $ 1,880 $ 2,158 Commissions 158 116 Legal and audit 280 320 Sales tax 140 531 Utilities 236 273 Warranty 24 16 Accrued purchase of materials and property, plant and equipment 1,214 905 Provision for reinstatement 380 308 Contract liabilities 1,275 988 Other accrued expense 50 581 Currency translation effect (69 ) (192 ) Total $ 5,568 $ 6,004 |
Note 13 - Warranty Accrual
Note 13 - Warranty Accrual | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 13. The Company provides for the estimated costs that may one For the Year Ended June 30, 2023 2022 Beginning $ 16 $ 14 Additions charged to cost and expense 32 7 (Utilization)/ Recovery (25 ) (4 ) Currency translation effect 1 (1 ) Ending $ 24 $ 16 |
Note 14 - Bank Loans Payable
Note 14 - Bank Loans Payable | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 14. Bank loans payable consisted of the following: For the Year Ended June 30, 2023 2022 Note payable denominated in the Malaysian Ringgit for expansion plans in Malaysia, maturing in August 2028, bearing interest at the bank’s prime rate less 2 4.6 3.791 2,208 2,372 $ 957 $ 1,392 Financing arrangement at a fixed interest rate of 3.2 84 128 Financing arrangement at a fixed interest rate of 3.0 169 224 Financing arrangement at a fixed interest rate of 3.0 142 - Total bank loans payable $ 1,352 $ 1,744 Current portion of bank loans payable 503 503 Currency translation effect on current portion of bank loans (28 ) (31 ) Current portion of bank loans payable 475 472 Long-term portion of bank loans payable 933 1,357 Currency translation effect on long-term portion of bank loans (56 ) (85 ) Long-term portion of bank loans payable $ 877 1,272 Future minimum payments (excluding interest) as of June 30, 2023, 2024 $ 475 2025 262 2026 231 2027 212 Thereafter 172 Total obligations and commitments $ 1,352 Future minimum payments (excluding interest) as of June 30, 2022, 2023 $ 472 2024 481 2025 246 2026 214 2027 190 Thereafter 141 Total obligations and commitments $ 1,744 |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15. Deposits with banks are not The Company is, from time to time, the subject of litigation claims and assessments arising out of matters occurring in its normal business operations. In the opinion of management, resolution of these matters will not |
Note 16 - Fair Value of Financi
Note 16 - Fair Value of Financial Instruments | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 16. In accordance with ASC Topic 825 820, There were no 1 2 June 30, 2023, Term deposits (Level 2 Restricted term deposits (Level 2 Lines of credit (Level 3 Bank loans payable (Level 3 |
Note 17 - Concentration of Cust
Note 17 - Concentration of Customers | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 17. During the years ended June 30, 2023 2022, For the Year Ended June 30, 2023 2022 Revenue - Customer A 33.5 % 40.3 % - Customer B 14.7 % 5.5 % - Customer C 11.2 % 19.4 % Trade Account Receivables - Customer A 31.2 % 36.0 % - Customer B 24.0 % 8.8 % - Customer C 15.9 % 24.2 % |
Note 18 - Business Segments
Note 18 - Business Segments | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 18. In Fiscal 2023, four The cost of equipment, current year investment in new equipment and depreciation expense are allocated into respective segments based on the primary purpose for which the equipment was acquired. All intersegment sales were sales from the Manufacturing segment to the Testing and Distribution segment. Total intersegment sales were $517 in the year ended June 30, 2023 June 30, 2022. four Operating Year Ended Income / Total Depr. And Capital Jun. 30, Revenue (Loss) Assets Amort. Expenditures Manufacturing 2023 $ 13,827 $ (58 ) $ 13,864 $ 481 $ 143 2022 $ 13,526 $ 275 $ 14,652 $ 417 $ 116 Testing Services 2023 23,130 1,648 24,559 4,532 4,329 2022 19,477 1,313 25,148 2,577 1,351 Distribution 2023 6,270 816 1,275 - - 2022 11,037 1,525 1,740 - - Real Estate 2023 23 (98 ) 1,988 75 - 2022 25 (119 ) 1,608 81 1 Corporate & Unallocated 2023 - (80 ) 500 - 26 2022 - (641 ) 273 - - Total Company 2023 $ 43,250 $ 2,228 $ 42,186 $ 5,088 $ 4,498 2022 $ 44,065 $ 2,353 $ 43,421 $ 3,075 $ 1,468 |
Note 19 - Other Income
Note 19 - Other Income | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | 19. Other income consisted of the following: For the Year Ended June 30, 2023 2022 Interest income $ 174 $ 69 Other rental income 115 116 Exchange (loss) / gain (269 ) 129 Commission income - 189 Dividend income - 10 Other miscellaneous income 86 82 Total $ 106 $ 595 |
Note 20 - Government Grants
Note 20 - Government Grants | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Government Assistance [Text Block] | 20. For the Year Ended June 30, 2023 2022 Government grants $ 153 $ 228 During Fiscal 2023, During Fiscal 2022, 19 |
Note 21 - Income Taxes
Note 21 - Income Taxes | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 21. (Loss) / Income before provision for income taxes consists of the following: For the Year Ended June 30, 2023 2022 United States 550 (1,156 ) International 1,832 4,210 Total $ 2,382 $ 3,054 The components of the provision for income taxes are as follows: For the Year Ended June 30, 2023 2022 Current: Federal $ 104 $ 72 State 2 2 Foreign 410 643 $ 516 $ 717 Deferred: Federal $ - $ - State - - Foreign 106 40 106 40 Total $ 622 $ 757 A reconciliation of income tax benefit compared to the amount of income tax expense that would result by applying the U.S. federal statutory income tax rate to pre-tax income is as follows: For the Year Ended June 30, 2023 2022 Statutory federal tax rate 21.00 % 21.00 % State taxes, net of federal benefit (1.19 ) (2.0 ) Permanent items and credits 16.08 2.44 Foreign rate differential (0.44 ) (18.50 ) Other (0.09 ) - Changes in valuation allowance (9.43 ) 21.88 Effective rate 26.141 % 24.82 % The provision for income taxes has been determined based upon the tax laws and rates in the countries in which we operate. The Company is subject to income taxes in the U.S. and numerous foreign jurisdictions. Significant judgment is required in determining the provision for income taxes and income tax assets and liabilities, including evaluating uncertainties in the application of accounting principles and complex tax laws. Due to the enactment of Tax Cuts and Jobs Act, the Company is subject to a tax on global intangible low-taxed income (“GILTI”) June 30, 2023. The Company accrues penalties and interest related to unrecognized tax benefits when necessary as a component of penalties and interest expenses, respectively. The Company had no unrecognized tax benefits or related accrued penalties or interest expenses at June 30, 2023. In assessing the ability to realize the deferred tax assets, management considers whether it is more likely than not not not not Temporary differences that give rise to a significant portion of deferred tax assets and deferred tax liabilities are as follows: For the Year Ended June 30, 2023 2022 Deferred tax assets: Net operating losses and credits $ 704 $ 789 Inventory valuation 68 125 Right-of-use assets 61 Provision for bad debts - 223 Accrued vacation 11 8 Accrued expense 172 265 Fixed asset basis 9 4 Investment 71 77 General business credit 22 - Other - (106 ) Total deferred tax assets $ 1,118 $ 1,385 Deferred tax liabilities: Depreciation $ (342 ) $ (371 ) (61 ) Other (8 ) (3 ) Total deferred tax liabilities $ (411 ) $ (374 ) Subtotal 707 1,011 Valuation allowance (617 ) (842 ) Net deferred tax assets $ 90 $ 169 Presented as follows in the balance sheets: Deferred tax assets $ 100 $ 169 Deferred tax liabilities (10 ) - Net deferred tax assets $ 90 $ 169 The valuation allowance decreased by $225 and increased by $220 in Fiscal 2023 2022, At June 30, 2023, 2033. may 382. not Generally, U.S. federal, state, and foreign authorities may three four five may |
Note 22 - Revenue
Note 22 - Revenue | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 22. The Company generates revenue primarily from 3 third Significant Judgments The Company’s arrangements with its customers include various combinations of products and services, which are generally capable of being distinct and accounted for as separate performance obligations. A product or service is considered distinct if it is separately identifiable from other deliverables in the arrangement and if a customer can benefit from it on its own or with other resources that are readily available to the customer. The Company allocates the transaction price to each performance obligation on a relative stand-alone selling price basis (“SSP”) may Warranties, discounts and allowances are estimated using historical and recent data trends. The Company includes estimates in the transaction price only to the extent that a significant reversal of revenue is not not Manufacturing The Company primarily derives revenue from the sale of both front-end and back-end semiconductor test equipment and related peripherals, maintenance and support of all these products, installation and training services, and the sale of spare parts. The Company’s revenues are measured based on consideration stipulated in the arrangement with each customer, net of any sales incentives and amounts collected on behalf of third The Company recognizes revenue at a point in time when the Company has satisfied its performance obligation by transferring control of the product to the customer. The Company uses judgment to evaluate whether the control has transferred by considering several indicators, including whether: ● the Company has a present right to payment; ● the customer has legal title; ● the customer has physical possession; ● the customer has significant risk and rewards of ownership; and ● the customer has accepted the product, or whether customer acceptance is considered a formality based on history of acceptance of similar products (for example, when the customer has previously accepted the same equipment, with the same specifications, and when we can objectively demonstrate that the tool meets all of the required acceptance criteria, and when the installation of the system is deemed perfunctory). Not Majority of sales under the Manufacturing segment include a 12 not Customized products are generally more complex and, as a result, may Testing The Company renders testing services to manufacturers and purchasers of semiconductors and other entities who either lack testing capabilities or whose in-house screening facilities are insufficient. The Company primarily derives testing revenue from burn-in services, manpower supply and other associated services. SSP is directly observable from the sales orders. Revenue is allocated to performance obligations satisfied at a point in time depending upon terms of the sales order. Generally, there is no Terms of contract that may not not Distribution The Company distributes complementary products, made by manufacturers around the world. The Company recognizes revenue from product sales at a point in time when the Company has satisfied its performance obligation by transferring control of the product to the customer. The Company uses judgment to evaluate whether the control has transferred by considering several indicators discussed above. The Company recognizes the revenue at a point in time, generally upon shipment or delivery of the products to the customer or distributors, depending upon terms of the sales order. Contract Balances The timing of revenue recognition, billings and collections may 70% 90% 30 60 30 not Contract assets were recorded under other receivable while contract liabilities were recorded under accrued expense in the balance sheet. The following table is the reconciliation of contract balances. Jun. 30, Jun. 30, 2023 2022 Trade Accounts Receivable $ 9,804 $ 11,592 Accounts Payable 1,667 2,401 Contract Liabilities 1,275 988 Remaining Performance Obligation As of June 30, 2023, two As at June 30, 2022, Practical Expedients The Company applies the following practical expedients: ● The Company accounts for shipping and handling costs as activities to fulfil the promise to transfer the goods, instead of a promised service to its customer. ● The Company has not one ● The Company has elected to adopt the practical expedient for contract costs, specifically in relation to incremental costs of obtaining a contract. Costs to obtain a contract are not one |
Note 23 - Earnings Per Share
Note 23 - Earnings Per Share | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 23. The Company follows ASC Topic 260, Earnings Per Share. EPS Options to purchase 656,375 shares of Common Stock at exercise prices ranging from $2.53 to $7.76 per share were outstanding as of June 30, 2023. 2023 Options to purchase 656,375 shares of Common Stock at exercise prices ranging from $2.53 to $7.76 per share were outstanding as of June 30, 2022. 2022 The following table is a reconciliation of the weighted average shares used in the computation of basic and diluted EPS for the years presented herein: For the Year Ended June 30, 2023 2022 Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax $ 1,545 $ 2,396 Loss attributable to Trio-Tech International common shareholders from discontinued operations, net of tax (1 ) (1 ) Net income attributable to Trio-Tech International Common Shareholders $ 1,544 $ 2,395 Weighted average number of common shares outstanding - basic 4,082 3,972 Dilutive effect of stock options 83 202 Number of shares used to compute earnings per share - diluted 4,165 4,174 Basic earnings per share from continuing operations attributable to Trio-Tech International $ 0.38 $ 0.61 Basic loss per share from discontinued operations attributable to Trio-Tech International - (0.01 ) Basic earnings per share from net income attributable to Trio-Tech International $ 0.38 $ 0.60 Diluted earnings per share from continuing operations attributable to Trio-Tech International $ 0.37 $ 0.57 Diluted earnings per share from discontinued operations attributable to Trio-Tech International - - Diluted earnings per share from net income attributable to Trio-Tech International $ 0.37 $ 0.57 |
Note 24 - Stock Options
Note 24 - Stock Options | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 24. On September 24, 2007, 2007 2007 2007 2007 2007 2007 December 3, 2007. 2007 2007 September 24, 2017. On September 14, 2017, 2017 2017 2017 2017 December 4, 2017. Assumptions The fair value for the stock options granted to both employees and directors was estimated using the Black-Scholes option pricing model with the following weighted average assumptions, assuming: ● An expected life varying from 2.50 to 3.25 years, calculated in accordance with the guidance provided in SEC Staff bulletin No. 110 not ● A risk-free interest rate varying from 0.11% to 4.17% ( 2022: ● No expected dividend payments and; ● Expected volatility of 47.3% to 73.85% ( 2022: The expected volatilities are based on the historical volatility of the Company’s Common Stock. Due to higher volatility, the observation was made on a daily basis for the 12 months ended June 30, 2023 2022 718 Stock Based Compensation 2017 The Company’s 2017 December 2021, 2017 December 2021. Under the 2017 no ten may first may 2017 five three 2017 During the year ended June 30, 2023, 2017 There were 5,000 2017 June 30, 2023. June 30, 2023 2017 2017 2017 As of June 30, 2023, 2017 2017 June 30, 2023, A summary of option activities under the 2017 June 30, 2023, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 236,375 5.21 2.61 87 Granted 65,000 4.84 - - Exercised (5,000 ) 3.75 - - Forfeited or expired (80,000 ) - - - Outstanding at June 30, 2023 216,375 4.89 2.92 140 Exercisable at June 30, 2023 134,625 4.49 2.57 125 A summary of the status of the Company’s non-vested employee stock options during the year ended June 30, 2023, Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2022 75,875 $ 5.98 Granted 65,000 4.77 Vested (49,125 ) - Forfeited (10,000 ) - Non-vested at June 30, 2023 81,750 $ 5.53 During the year ended June 30, 2022, 2017 There were 71,125 stock options exercised under the 2017 June 30, 2022. June 30, 2022 2017 2017 three 2017 As of June 30, 2022, 2017 2017 June 30, 2022, A summary of option activities under the 2017 June 30, 2022, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 267,000 4.21 3.22 290 Granted 40,500 7.76 4.73 - Exercised (71,125 ) 2.93 - - Outstanding at June 30, 2022 236,375 5.21 2.61 87 Exercisable at June 30, 2022 160,500 4.93 1.98 66 A summary of the status of the Company’s non-vested employee stock options during the year ended June 30, 2022, Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2021 102,250 $ 2.29 Granted 40,500 3.69 Vested (66,875 ) - Non-vested at June 30, 2022 75,875 $ 5.98 2007 The Company’s 2007 2007 2007 September 24, 2017 may There were no options exercised during the year ended June 30, 2023 June 30, 2022. not 2023 2022, 2007 As of June 30, 2023 2022, 2007 A summary of option activities under the 2007 June 30, 2022, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 37,500 $ 4.14 0.75 $ 34 Granted - - - - Exercised (37,500 ) 4.14 - - Outstanding at June 30, 2022 - $ - - $ - Exercisable at June 30, 2022 - $ - - $ - 2017 The 2017 September 2020, 2017 December 2020. Under the 2017 100% five During the year ended June 30, 2023, 2017 2017 409A 1986, As all stock options granted under the 2017 2017 June 30, 2023. There were 20,000 stock options exercised under the 2017 June 30, 2023. $213 June 30, 2023 2017 A summary of option activities under the 2017 June 30, 2023, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 420,000 $ 5.10 2.85 $ 228 Granted 100,000 4.51 - - Exercised 20,000 2.53 - Forfeited or expired (80,000 ) 5.98 - - Outstanding at June 30, 2023 420,000 $ 4.91 2.91 $ 309 Exercisable at June 30, 2023 420,000 4.91 2.91 309 During the year ended June 30, 2022, 2017 2017 409A 1986, As all stock options granted under the 2017 2017 June 30, 2022. There were no options under the 2017 June 30, 2022. June 30, 2022 2017 A summary of option activities under the 2017 June 30, 2022, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 320,000 $ 4.27 3.22 $ 340 Granted 100,000 7.76 4.73 - Exercised - - - - Forfeited or expired - - - - Outstanding at June 30, 2022 420,000 $ 5.10 2.85 $ 228 Exercisable at June 30, 2022 420,000 5.10 2.85 228 2007 The Company’s 2007 2007 2007 September 24, 2017, no may There were no stock options exercised during the year ended June 30, 2023. not June 30, 2023. There were 50,000 options exercised during the year ended June 30, 2022. not June 30, 2022. As of June 30, 2023 2022, 2007 A summary of option activities under the 2007 June 30, 2022, Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 50,000 $ 4.14 0.75 $ 45 Granted - - - - Exercised (50,000 ) 4.14 - - Forfeited or expired - - - - Outstanding at June 30, 2022 - $ - - $ - Exercisable at June 30, 2022 - $ - - $ - |
Note 25 - Leases
Note 25 - Leases | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee and Lessor, Leases [Text Block] | 25. LEASES Company as Lessor Operating leases under which the Company is the lessor arise from leasing the Company’s commercial real estate investment property to third June 30, 2023 2022, Future minimum rental income in China and Thailand to be received from fiscal year ended June 30, 2024 June 30, 2027 June 30, 2023, 2024 $ 141 2025 141 2026 46 2027 16 $ 344 Future minimum rental income in China and Thailand to be received from Fiscal 2023 June 30, 2027 June 30, 2022, 2023 $ 6 2024 $ 27 2025 28 2026 29 2027 10 $ 100 Sales-type leases under which the Company is the lessor arise from the lease of 4 units of chiller systems. The Company classifies its lease arrangements at inception of the arrangement. The lease term is 3 years, contains an automatic transfer of title at the end of the lease term and a guarantee of residual value at the end of the lease term. The customer is required to pay for executory cost such as taxes. Financing receivables, consisting of net investment in sales-type leases and receivables from financed sales of 4 units of chiller systems are as follows: Components of Lease Balances For the Year Ended June 30, 2023 2022 Assets Gross financial sales receivable $ 17 $ 41 Unearned finance income (1 ) (3 ) Financed sales receivable $ 16 $ 38 Net financed sales receivables due within one year $ 16 $ 21 Net financed sales receivables due after one year $ - $ 17 As of June 30, 2023, As of June 30, 2022, Company as Lessee The Company has operating leases for corporate offices and research and development facilities with remaining lease terms of one four Supplemental balance sheet information related to leases is as follows (in thousands): For the Year Ended June 30, 2023 2022 Finance Leases (Plant and Equipment) Plant and equipment, at cost $ 1,734 $ 1,727 Accumulated depreciation (1,075 ) (1,179 ) Plant and Equipment, Net $ 658 $ 548 Current portion of finance leases $ 107 $ 118 Net of current portion of finance leases 42 119 Total Finance Lease Liabilities $ 149 $ 237 Operating Leases (Corporate Offices, Research and Development Facilities) Operating lease right-of-use assets $ 2,609 $ 3,152 Operating lease right-of-use assets, Net $ 2,609 $ 3,152 Current portion of operating leases 1,098 1,218 Net of current portion of operating leases 1,511 1,934 Total Operating Lease Liabilities $ 2,609 $ 3,152 For the Year Ended June 30, 2023 2022 Lease Cost Finance lease cost: Interest on finance lease $ 2 $ 29 Amortization of right-of-use assets 43 209 Total finance lease cost 45 238 Operating Lease Costs $ 1,518 $ 949 Other information related to leases was as follows (in thousands except lease term and discount rate): For the Year Ended June 30, 2023 2022 Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases $ (10 ) $ (21 ) Operating cash flows from operating leases (1,300 ) (1,151 ) Finance cash from finance leases - - Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities 1,297 1,276 Weighted-Average Remaining Lease Term: Finance leases 1.59 2.02 Operating leases 2.42 2.83 Weighted-Average Discount Rate: Finance leases 3.22 % 3.26 % Operating leases 5.68 % 5.53 % As of June 30, 2023, Operating Lease Liabilities Finance Lease Liabilities Fiscal Year 2024 1,321 112 2025 846 33 2026 570 12 Thereafter 64 - Total future minimum lease payments $ 2,801 $ 157 Less: amount representing interest (192 ) (8 ) Present value of net minimum lease payments $ 2,609 $ 149 Presentation on statement of financial position Current 1,098 107 Non-Current 1,511 42 As of June 30, 2022, Operating Lease Liabilities Finance Lease Liabilities Fiscal Year 2023 $ 1,357 $ 129 2024 1,032 104 2025 554 20 2026 423 - Thereafter 69 - Total future minimum lease payments $ 3,435 $ 253 Less: amount representing interest (283 ) (16 ) Present value of net minimum lease payments $ 3,152 $ 237 Presentation on statement of financial position Current 1,218 118 Non-Current 1,934 119 |
Note 26 - Noncontrolling Intere
Note 26 - Noncontrolling Interest | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | 26. In accordance with the provisions of ASC Topic 810, Non-controlling interest represents the minority stockholders’ share of 45% of the equity of Trio-Tech (Malaysia) Sdn. Bhd., Trio-Tech (Kuala Lumpur) Sdn. Bhd., SHI International Pte. Ltd., 48% of PT. SHI Indonesia, 24% interest in Prestal Enterprise Sdn. Bhd., and 49% interest in Trio-Tech Jiangsu Co., Ltd., which are subsidiaries of the Company. The table below reflects a reconciliation of the equity attributable to non-controlling interest: For the Year Ended June 30, 2023 2022 Non-controlling interest Beginning balance $ 128 $ 419 Net income / (loss) 214 (96 ) Dividend declared by a subsidiary - (122 ) Translation adjustment (177 ) (73 ) Ending balance $ 165 $ 128 |
Note 27 - Comparative Figures
Note 27 - Comparative Figures | 12 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | 27. Certain amounts in the prior periods presented have been reclassified to conform to the current period financial statement presentation. These reclassifications have no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation and Principles of Consolidation - “Company” “TTI” 1958 third June 30, 2023, four 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 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) (95% owned by SHI International Pte. Ltd.) 52% Batam, Indonesia Trio-Tech (Tianjin) Co., Ltd. * 100% Tianjin, China Trio-Tech (Jiangsu) Co., Ltd. (51% owned by Trio-Tech (SIP) Co., Ltd.) 51% Suzhou, China * 100% owned by Trio-Tech International Pte. Ltd. The consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles (“ U.S. GAAP All dollar amounts in the consolidated financial statements and in the notes herein are presented in thousands of United States dollars ( US$’000 |
Liquidity [Policy Text Block] | Liquidity June 30, 2023 (“ Fiscal 2023 June 30, 2022 (“ Fiscal 2022 The Company’s core businesses, testing services, manufacturing and distribution, operate in a volatile industry, where average selling prices and product costs are influenced by competitive factors. These factors create pressures on sales, costs, earnings and cash flows, which can impact liquidity. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation and Transactions “SGD” “RM” “RMB” The Company translates assets and liabilities of its subsidiaries outside the U.S. into U.S. dollars using the rate of exchange prevailing at the fiscal year end, and the consolidated statements of operations and comprehensive income or loss is translated at average rates during the reporting period. Adjustments resulting from the translation of the subsidiaries’ financial statements from foreign currencies into U.S. dollars are recorded in shareholders' equity as part of accumulated other comprehensive gain - translation adjustments. Gains or losses resulting from transactions denominated in currencies other than functional currencies of the Company’s subsidiaries are reflected in income for the reporting period. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Revenue [Policy Text Block] | Revenue Recognition No. 2014 09, 606, Revenue from Contracts with Customers ASC Topic 606 We apply a five 606 1 2 3 4 5 Revenue derived from Testing is recognized when testing services are rendered. Revenue generated from sale of products in the Manufacturing and Distribution segments are recognized when persuasive evidence of an arrangement exists, delivery of the products has occurred, customer acceptance has been obtained (which means the control has been transferred to the customer), the price is fixed or determinable and collectability is reasonably assured. Certain customers can request for installation and training services to be performed for certain products sold in the Manufacturing segment. These services are mainly for helping customers with the test runs of the machines sold and are considered a separate performance obligation. Such services can be provided by other entities as well and these do not In the Real Estate segment: ( 1 2 may |
Sales Tax [Policy Text Block] | GST / Indirect Taxes |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Trade Account Receivables and Allowance for Doubtful Accounts not The Company’s management considers the following factors when determining the collectability of specific customer accounts: customer creditworthiness, past transaction history with the customer, current economic industry trends, and changes in customer payment terms. The Company includes any account balances that are determined to be uncollectible, along with a general reserve, in the overall allowance for doubtful accounts. After all attempts to collect a receivable have failed, the receivable is written off against the allowance. Based on the information available to management, the Company believed that its allowance for doubtful accounts was adequate as of June 30, 2023 2022. |
Extended Product Warranty, Policy [Policy Text Block] | Assurance Warranty Costs may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Term Deposits [Policy Text Block] | Term Deposits three |
Inventory, Policy [Policy Text Block] | Restricted Term Deposits Inventories first first “FIFO” not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property, Plant and Equipment and Investment Properties Maintenance, repairs and minor renewals are charged directly to expense as incurred. Additions and improvements to the assets are capitalized. When assets are disposed of, the related cost and accumulated depreciation thereon are removed from the accounts and any resulting gain or loss is included in the consolidated statements of operations and comprehensive income or loss. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets and Impairment The Company evaluates the long-lived assets, including property, plant and equipment and investment property, for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not The Company applies the provisions of ASC Topic 360, Accounting for the Impairment or Disposal of Long-Lived Assets “ASC Topic 360” 360 may not |
Lessee, Leases [Policy Text Block] | Leases 842 When discount rates implicit in leases cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement to perform lease classification tests on lease components and to measure lease liabilities and ROU assets. The incremental borrowing rate used by the Company was based on baseline rates and adjusted by the credit spreads commensurate with the Company’s secured borrowing rate over a similar term. At each reporting period when there is a new lease initiated, the rates established for that quarter will be used. |
Lessor, Leases [Policy Text Block] | All of the leases under which the Company is the lessor will continue to be classified as operating leases and sales-type lease under the new standard. The new standard did not not |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income or Loss 220, Reporting Comprehensive Income, ASC Topic 220 |
Income Tax, Policy [Policy Text Block] | Income Taxes 740, Accounting for Income Taxes ASC Topic 740 . 740 The calculation of tax liabilities involves dealing with uncertainties in the application of complex global tax regulations. The Company recognizes potential liabilities for anticipated tax audit issues in the U.S. and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due. If payment of these amounts ultimately proves to be unnecessary, the reversal of the liabilities would result in tax benefits being recognized in the period when the Company determines the liabilities are no |
Retained Earnings [Policy Text Block] | Retained Earnings June 30, 2023 2022, |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Costs 2023 2022, |
Share-Based Payment Arrangement [Policy Text Block] | Stock-based compensation four Determining the fair value of stock-based awards at the grant date requires significant judgment. The determination of the grant date fair value of stock-based awards using the Black-Scholes option-pricing model is affected by our estimated common stock fair value as well as other subjective assumptions including the expected term of the awards, the expected volatility over the expected term of the awards, expected dividend yield and risk-free interest rates. The assumptions used in our option-pricing model represent management’s best estimates and are as follows: • Fair Value of Common Stock. We determined the fair value of each share of underlying common stock based on the closing price of our common stock on the date of grant. • Expected Term. The expected term of employee stock options reflects the period for which we believe the option will remain outstanding based on historical experience and future expectations. • Expected Volatility. We base expected volatility on our historical information over a similar expected term. |
Earnings Per Share, Policy [Policy Text Block] | Earnings per Share |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Values of Financial Instruments 16 ASC Topic 820 three ● Level 1—Valuations not 1 ● Level 2—Valuations not 2 ● Level 3—Valuations |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk not not not |
Investment, Policy [Policy Text Block] | Investments not Equity Method 50% Cost Method not not not |
Financing Receivable, Held-for-Investment [Policy Text Block] | Loan Receivables from Property Development Projects Interest income on the loan receivables from property development projects are recognized on an accrual basis. Discounts and premiums on loans are amortized to income using the interest method over the remaining period to contractual maturity. The amortization of discounts into income is discontinued on loans that are contractually 90 |
Contingent Liability Reserve Estimate, Policy [Policy Text Block] | Contingent Liabilities may may one may If the assessment of a contingency indicates that it is probable that a material loss has been incurred and the amount of the liability can be estimated, then the estimated liability would be accrued in the Company’s consolidated financial statements. If the assessment indicates that a potentially material loss contingency is not Loss contingencies considered remote are generally not |
Note 1 - Basis of Presentatio_2
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block] | 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 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) (95% owned by SHI International Pte. Ltd.) 52% Batam, Indonesia Trio-Tech (Tianjin) Co., Ltd. * 100% Tianjin, China Trio-Tech (Jiangsu) Co., Ltd. (51% owned by Trio-Tech (SIP) Co., Ltd.) 51% Suzhou, China |
Note 3 - Term Deposits (Tables)
Note 3 - Term Deposits (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Term Deposits [Table Text Block] | For the Year Ended June 30, 2023 2022 Short-term deposits $ 6,901 $ 5,619 Currency translation effect on short-term deposits (274 ) (199 ) Total short-term deposits 6,627 5,420 Restricted term deposits - Current 755 - Currency translation effect on restricted term deposits (16 ) - Total restricted term deposits - Current 739 - Restricted term deposits - Non-Current 1,763 1,746 Currency translation effect on restricted term deposits (47 ) (68 ) Total restricted term deposits - Non-Current 1,716 1,678 Total term deposits $ 9,082 $ 7,098 |
Note 4 - Trade Account Receiv_2
Note 4 - Trade Account Receivables and Allowance for Doubtful Accounts (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | For the Year Ended June 30, 2023 2022 Beginning $ 243 $ 311 Additions charged to expenses 9 48 Recovered (20 ) (106 ) Currency translation effect (15 ) (10 ) Ending $ 217 $ 243 |
Note 5 - Loans Receivable Fro_2
Note 5 - Loans Receivable From Property Development Projects (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | Loan Expiry Loan Amount Loan Amount Date (RMB) (U.S. Dollars) Short-term loan receivables JiangHuai (Project – Yu Jin Jiang An) May 31, 2013 2,000 276 Less: allowance for doubtful receivables (2,000 ) (276 ) Net loan receivables from property development projects - - Long-term loan receivables Jun Zhou Zhi Ye Oct 31, 2016 5,000 689 Less: transfer – down-payment for purchase of investment property (5,000 ) (689 ) Net loan receivables from property development projects - - |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | For the Year Ended June 30, 2023 2022 Raw materials $ 1,389 $ 1,764 Work in progress 1,132 683 Finished goods 178 238 Less: provision for obsolete inventories (648 ) (674 ) Currency translation effect 100 247 $ 2,151 $ 2,258 |
Schedule of Inventory, Noncurrent [Table Text Block] | For the Year Ended June 30, 2023 2022 Beginning $ 674 $ 679 Additions charged to expenses 61 17 Usage – disposition (40 ) (34 ) Currency translation effect (47 ) 12 Ending $ 648 $ 674 |
Note 8 - Investment Properties
Note 8 - Investment Properties (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Table Text Block] | Investment Date / Reclassification Investment Amount Investment Amount Date (RMB) (U.S. Dollars) Purchase of rental property – Property I – MaoYe 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 - FuLi Apr 08, 2010 4,025 648 Currency translation - (199 ) Gross investment in rental property 9,649 1,330 Accumulated depreciation on rental property Jun 30, 2023 (7,884 ) (1,123 ) Reclassified as “Assets held for sale”- MaoYe Property July 01, 2018 2,822 410 Reclassification from “Assets held for sale”- MaoYe Property Mar 31, 2019 (1,029 ) (143 ) (6,091 ) (856 ) Net investment in property China 3,558 474 Investment Date / Reclassification Investment Amount Investment Amount Date (RMB) (U.S. Dollars) Purchase of rental property – Property I – MaoYe 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 - FuLi Apr 08, 2010 4,025 648 Currency translation - (89 ) Gross investment in rental property 9,649 1,440 Accumulated depreciation on rental property Jun 30, 2022 (7,523 ) (1,122 ) Reclassified as “Assets held for sale”- MaoYe Property July 01, 2018 2,822 410 Reclassification from “Assets held for sale”- MaoYe Property Mar 31, 2019 (1,029 ) (143 ) (5,730 ) (855 ) Net investment in property China 3,919 585 |
Note 9 - Property, Plant and _2
Note 9 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Estimated Useful For the Year Ended June 30, Life in Years 2023 2022 Building and improvements 3-20 $ 5,243 $ 5,190 Leasehold improvements 3-27 9,623 6,545 Machinery and equipment 3-7 28,001 27,172 Furniture and fixtures 3-5 1,308 1,234 Equipment under finance leases 3-5 1,525 1,413 Property, plant and equipment, gross $ 45,700 $ 41,554 Less: accumulated depreciation (33,110 ) (30,116 ) Accumulated amortization on equipment under finance leases (1,402 ) (1,330 ) Total accumulated depreciation $ (34,512 ) $ (31,446 ) Property, plant and equipment before currency translation effect, net $ 11,188 $ 10,108 Currency translation effect (2,844 ) (1,627 ) Property, plant and equipment, net $ 8,344 $ 8,481 |
Note 10 - Other Assets (Tables)
Note 10 - Other Assets (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | For the Year Ended June 30, 2023 2022 Deposits for rental and utilities and others 117 142 Currency translation effect (1 ) (5 ) Total $ 116 $ 137 |
Schedule of Other Assets, Noncurrent [Table Text Block] | 2023 RMB U.S. Dollars Original Investment (10% of Junzhou equity) $ 10,000 $ 1,606 Less: Management Fee (5,000 ) (803 ) Net Investment 5,000 803 Less: Share of Loss on Joint Venture (137 ) (22 ) Net Investment as Down Payment (Note *a) 4,863 781 Loans Receivable 5,000 689 Interest Receivable 1,250 172 Less: Impairment of Interest (906 ) (125 ) Transferred to Down Payment (Note *b) 5,344 736 * Down Payment for Purchase of Investment Properties 10,207 1,407 Add: Effect of foreign currency exchange - 133 Less: Provision of Impairment loss on other assets (10,207 ) (1,580 ) * Down Payment for Purchase of Investment Properties $ - $ - |
Note 11 - Lines of Credit (Tabl
Note 11 - Lines of Credit (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Line of Credit Facilities [Table Text Block] | Entity with Type of Interest Credit Unused Facility Facility Rate Limitation Credit Trio-Tech International Pte. Ltd., Singapore Lines of Credit Cost of Funds Rate +1.25% to +1.3% $ 3,907 $ 3,701 Universal (Far East) Pte. Ltd. Lines of Credit Cost of Funds Rate +1.25% to +1.3% $ 1,843 $ 1,559 Trio-Tech Malaysia Sdn. Bhd. Revolving credit Cost of Funds Rate +2% $ 319 $ 319 Entity with Type of Interest Credit Unused Facility Facility Rate Limitation Credit Trio-Tech International Pte. Ltd., Singapore Lines of Credit Ranging from 1.85% to 5.5% $ 4,090 $ 3,651 Universal (Far East) Pte. Ltd. Lines of Credit Ranging from 1.85% to 5.5% $ 1,076 $ 586 Trio-Tech Malaysia Sdn. Bhd. Revolving credit Cost of Funds Rate +2% $ 338 $ 338 |
Note 12 - Accrued Expense (Tabl
Note 12 - Accrued Expense (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | For the Year Ended June 30, 2023 2022 Payroll and related costs $ 1,880 $ 2,158 Commissions 158 116 Legal and audit 280 320 Sales tax 140 531 Utilities 236 273 Warranty 24 16 Accrued purchase of materials and property, plant and equipment 1,214 905 Provision for reinstatement 380 308 Contract liabilities 1,275 988 Other accrued expense 50 581 Currency translation effect (69 ) (192 ) Total $ 5,568 $ 6,004 |
Note 13 - Warranty Accrual (Tab
Note 13 - Warranty Accrual (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | For the Year Ended June 30, 2023 2022 Beginning $ 16 $ 14 Additions charged to cost and expense 32 7 (Utilization)/ Recovery (25 ) (4 ) Currency translation effect 1 (1 ) Ending $ 24 $ 16 |
Note 14 - Bank Loans Payable (T
Note 14 - Bank Loans Payable (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | For the Year Ended June 30, 2023 2022 Note payable denominated in the Malaysian Ringgit for expansion plans in Malaysia, maturing in August 2028, bearing interest at the bank’s prime rate less 2 4.6 3.791 2,208 2,372 $ 957 $ 1,392 Financing arrangement at a fixed interest rate of 3.2 84 128 Financing arrangement at a fixed interest rate of 3.0 169 224 Financing arrangement at a fixed interest rate of 3.0 142 - Total bank loans payable $ 1,352 $ 1,744 Current portion of bank loans payable 503 503 Currency translation effect on current portion of bank loans (28 ) (31 ) Current portion of bank loans payable 475 472 Long-term portion of bank loans payable 933 1,357 Currency translation effect on long-term portion of bank loans (56 ) (85 ) Long-term portion of bank loans payable $ 877 1,272 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2024 $ 475 2025 262 2026 231 2027 212 Thereafter 172 Total obligations and commitments $ 1,352 2023 $ 472 2024 481 2025 246 2026 214 2027 190 Thereafter 141 Total obligations and commitments $ 1,744 |
Note 17 - Concentration of Cu_2
Note 17 - Concentration of Customers (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Year Ended June 30, 2023 2022 Revenue - Customer A 33.5 % 40.3 % - Customer B 14.7 % 5.5 % - Customer C 11.2 % 19.4 % Trade Account Receivables - Customer A 31.2 % 36.0 % - Customer B 24.0 % 8.8 % - Customer C 15.9 % 24.2 % |
Note 18 - Business Segments (Ta
Note 18 - Business Segments (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Operating Year Ended Income / Total Depr. And Capital Jun. 30, Revenue (Loss) Assets Amort. Expenditures Manufacturing 2023 $ 13,827 $ (58 ) $ 13,864 $ 481 $ 143 2022 $ 13,526 $ 275 $ 14,652 $ 417 $ 116 Testing Services 2023 23,130 1,648 24,559 4,532 4,329 2022 19,477 1,313 25,148 2,577 1,351 Distribution 2023 6,270 816 1,275 - - 2022 11,037 1,525 1,740 - - Real Estate 2023 23 (98 ) 1,988 75 - 2022 25 (119 ) 1,608 81 1 Corporate & Unallocated 2023 - (80 ) 500 - 26 2022 - (641 ) 273 - - Total Company 2023 $ 43,250 $ 2,228 $ 42,186 $ 5,088 $ 4,498 2022 $ 44,065 $ 2,353 $ 43,421 $ 3,075 $ 1,468 |
Note 19 - Other Income (Tables)
Note 19 - Other Income (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income, by Component [Table Text Block] | For the Year Ended June 30, 2023 2022 Interest income $ 174 $ 69 Other rental income 115 116 Exchange (loss) / gain (269 ) 129 Commission income - 189 Dividend income - 10 Other miscellaneous income 86 82 Total $ 106 $ 595 |
Note 20 - Government Grants (Ta
Note 20 - Government Grants (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Government Grants [Table Text Block] | For the Year Ended June 30, 2023 2022 Government grants $ 153 $ 228 |
Note 21 - Income Taxes (Tables)
Note 21 - Income Taxes (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | For the Year Ended June 30, 2023 2022 United States 550 (1,156 ) International 1,832 4,210 Total $ 2,382 $ 3,054 |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | For the Year Ended June 30, 2023 2022 Current: Federal $ 104 $ 72 State 2 2 Foreign 410 643 $ 516 $ 717 Deferred: Federal $ - $ - State - - Foreign 106 40 106 40 Total $ 622 $ 757 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | For the Year Ended June 30, 2023 2022 Statutory federal tax rate 21.00 % 21.00 % State taxes, net of federal benefit (1.19 ) (2.0 ) Permanent items and credits 16.08 2.44 Foreign rate differential (0.44 ) (18.50 ) Other (0.09 ) - Changes in valuation allowance (9.43 ) 21.88 Effective rate 26.141 % 24.82 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | For the Year Ended June 30, 2023 2022 Deferred tax assets: Net operating losses and credits $ 704 $ 789 Inventory valuation 68 125 Right-of-use assets 61 Provision for bad debts - 223 Accrued vacation 11 8 Accrued expense 172 265 Fixed asset basis 9 4 Investment 71 77 General business credit 22 - Other - (106 ) Total deferred tax assets $ 1,118 $ 1,385 Deferred tax liabilities: Depreciation $ (342 ) $ (371 ) (61 ) Other (8 ) (3 ) Total deferred tax liabilities $ (411 ) $ (374 ) Subtotal 707 1,011 Valuation allowance (617 ) (842 ) Net deferred tax assets $ 90 $ 169 Presented as follows in the balance sheets: Deferred tax assets $ 100 $ 169 Deferred tax liabilities (10 ) - Net deferred tax assets $ 90 $ 169 |
Note 22 - Revenue (Tables)
Note 22 - Revenue (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Jun. 30, Jun. 30, 2023 2022 Trade Accounts Receivable $ 9,804 $ 11,592 Accounts Payable 1,667 2,401 Contract Liabilities 1,275 988 |
Note 23 - Earnings Per Share (T
Note 23 - Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Year Ended June 30, 2023 2022 Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax $ 1,545 $ 2,396 Loss attributable to Trio-Tech International common shareholders from discontinued operations, net of tax (1 ) (1 ) Net income attributable to Trio-Tech International Common Shareholders $ 1,544 $ 2,395 Weighted average number of common shares outstanding - basic 4,082 3,972 Dilutive effect of stock options 83 202 Number of shares used to compute earnings per share - diluted 4,165 4,174 Basic earnings per share from continuing operations attributable to Trio-Tech International $ 0.38 $ 0.61 Basic loss per share from discontinued operations attributable to Trio-Tech International - (0.01 ) Basic earnings per share from net income attributable to Trio-Tech International $ 0.38 $ 0.60 Diluted earnings per share from continuing operations attributable to Trio-Tech International $ 0.37 $ 0.57 Diluted earnings per share from discontinued operations attributable to Trio-Tech International - - Diluted earnings per share from net income attributable to Trio-Tech International $ 0.37 $ 0.57 |
Note 24 - Stock Options (Tables
Note 24 - Stock Options (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Director Plan 2007 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 50,000 $ 4.14 0.75 $ 45 Granted - - - - Exercised (50,000 ) 4.14 - - Forfeited or expired - - - - Outstanding at June 30, 2022 - $ - - $ - Exercisable at June 30, 2022 - $ - - $ - |
Director Plan 2017 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 420,000 $ 5.10 2.85 $ 228 Granted 100,000 4.51 - - Exercised 20,000 2.53 - Forfeited or expired (80,000 ) 5.98 - - Outstanding at June 30, 2023 420,000 $ 4.91 2.91 $ 309 Exercisable at June 30, 2023 420,000 4.91 2.91 309 Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 320,000 $ 4.27 3.22 $ 340 Granted 100,000 7.76 4.73 - Exercised - - - - Forfeited or expired - - - - Outstanding at June 30, 2022 420,000 $ 5.10 2.85 $ 228 Exercisable at June 30, 2022 420,000 5.10 2.85 228 |
Employee Stock Option Plan 2007 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 37,500 $ 4.14 0.75 $ 34 Granted - - - - Exercised (37,500 ) 4.14 - - Outstanding at June 30, 2022 - $ - - $ - Exercisable at June 30, 2022 - $ - - $ - |
Employee Stock Option Plan 2017 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2022 236,375 5.21 2.61 87 Granted 65,000 4.84 - - Exercised (5,000 ) 3.75 - - Forfeited or expired (80,000 ) - - - Outstanding at June 30, 2023 216,375 4.89 2.92 140 Exercisable at June 30, 2023 134,625 4.49 2.57 125 Weighted Average Weighted Average Remaining Contractual Aggregate Exercise Term Intrinsic Options Price (Years) Value Outstanding at July 1, 2021 267,000 4.21 3.22 290 Granted 40,500 7.76 4.73 - Exercised (71,125 ) 2.93 - - Outstanding at June 30, 2022 236,375 5.21 2.61 87 Exercisable at June 30, 2022 160,500 4.93 1.98 66 |
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2022 75,875 $ 5.98 Granted 65,000 4.77 Vested (49,125 ) - Forfeited (10,000 ) - Non-vested at June 30, 2023 81,750 $ 5.53 Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2021 102,250 $ 2.29 Granted 40,500 3.69 Vested (66,875 ) - Non-vested at June 30, 2022 75,875 $ 5.98 |
Note 25 - Leases (Tables)
Note 25 - Leases (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Operating Lease, Lease Income [Table Text Block] | 2024 $ 141 2025 141 2026 46 2027 16 $ 344 2023 $ 6 2024 $ 27 2025 28 2026 29 2027 10 $ 100 |
Sales-type and Direct Financing Leases, Lease Receivable [Table Text Block] | Components of Lease Balances For the Year Ended June 30, 2023 2022 Assets Gross financial sales receivable $ 17 $ 41 Unearned finance income (1 ) (3 ) Financed sales receivable $ 16 $ 38 Net financed sales receivables due within one year $ 16 $ 21 Net financed sales receivables due after one year $ - $ 17 |
Operating and Finance Leases of Lessee Disclosure [Table Text Block] | For the Year Ended June 30, 2023 2022 Finance Leases (Plant and Equipment) Plant and equipment, at cost $ 1,734 $ 1,727 Accumulated depreciation (1,075 ) (1,179 ) Plant and Equipment, Net $ 658 $ 548 Current portion of finance leases $ 107 $ 118 Net of current portion of finance leases 42 119 Total Finance Lease Liabilities $ 149 $ 237 Operating Leases (Corporate Offices, Research and Development Facilities) Operating lease right-of-use assets $ 2,609 $ 3,152 Operating lease right-of-use assets, Net $ 2,609 $ 3,152 Current portion of operating leases 1,098 1,218 Net of current portion of operating leases 1,511 1,934 Total Operating Lease Liabilities $ 2,609 $ 3,152 For the Year Ended June 30, 2023 2022 Lease Cost Finance lease cost: Interest on finance lease $ 2 $ 29 Amortization of right-of-use assets 43 209 Total finance lease cost 45 238 Operating Lease Costs $ 1,518 $ 949 |
Operating and Finance Leases Of Lessee Other Disclosure [Table Text Block] | For the Year Ended June 30, 2023 2022 Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases $ (10 ) $ (21 ) Operating cash flows from operating leases (1,300 ) (1,151 ) Finance cash from finance leases - - Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities 1,297 1,276 Weighted-Average Remaining Lease Term: Finance leases 1.59 2.02 Operating leases 2.42 2.83 Weighted-Average Discount Rate: Finance leases 3.22 % 3.26 % Operating leases 5.68 % 5.53 % |
Schedule Of Future Minimum Rental Payments for Operating and Finance Leases [Table Text Block] | Operating Lease Liabilities Finance Lease Liabilities Fiscal Year 2024 1,321 112 2025 846 33 2026 570 12 Thereafter 64 - Total future minimum lease payments $ 2,801 $ 157 Less: amount representing interest (192 ) (8 ) Present value of net minimum lease payments $ 2,609 $ 149 Presentation on statement of financial position Current 1,098 107 Non-Current 1,511 42 Operating Lease Liabilities Finance Lease Liabilities Fiscal Year 2023 $ 1,357 $ 129 2024 1,032 104 2025 554 20 2026 423 - Thereafter 69 - Total future minimum lease payments $ 3,435 $ 253 Less: amount representing interest (283 ) (16 ) Present value of net minimum lease payments $ 3,152 $ 237 Presentation on statement of financial position Current 1,218 118 Non-Current 1,934 119 |
Note 26 - Noncontrolling Inte_2
Note 26 - Noncontrolling Interest (Tables) | 12 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Reconciliation of Equity Attributable to Noncontrolling Interest [Table Text Block] | For the Year Ended June 30, 2023 2022 Non-controlling interest Beginning balance $ 128 $ 419 Net income / (loss) 214 (96 ) Dividend declared by a subsidiary - (122 ) Translation adjustment (177 ) (73 ) Ending balance $ 165 $ 128 |
Note 1 - Basis of Presentatio_3
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | |
Net Income (Loss) Available to Common Stockholders, Basic | $ 1,544 | $ 2,395 | |
Retained Earnings (Accumulated Deficit) | 10,763 | 9,219 | |
Research and Development Expense | 397 | 375 | |
Subsidiaries [Member] | |||
Retained Earnings (Accumulated Deficit) | $ 21,001 | $ 18,755 | |
Minimum [Member] | |||
Trade Accounts Receivable, Credit Term (Day) | 30 days | ||
Maximum [Member] | |||
Trade Accounts Receivable, Credit Term (Day) | 90 days | ||
Trio-Tech (Tianjin) Co., Ltd, [Member] | |||
Noncontrolling Interest, Ownership Percentage by Parent | 100% |
Note 1 - Basis of Presentatio_4
Note 1 - Basis of Presentation and Summary of Significant Accounting Policies - Ownership (Details) | Jun. 30, 2023 | |
Express Test Corporation Dormant [Member] | ||
Ownership | 100% | |
Trio Tech Reliability Services Dormant [Member] | ||
Ownership | 100% | |
KTS Incorporated, dba Universal Systems (Dormant) [Member] | ||
Ownership | 100% | |
European Electronic Test Centre (Dormant) [Member] | ||
Ownership | 100% | |
Trio Tech International Pte Ltd [Member] | ||
Ownership | 100% | |
Universal (Far East) Pte. Ltd. [Member] | ||
Ownership | 100% | [1] |
Trio-Tech International (Thailand) Co. Ltd. [Member] | ||
Ownership | 100% | [1] |
Trio-Tech (Bangkok) Co. Ltd [Member] | ||
Ownership | 100% | [1] |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | ||
Ownership | 55% | |
Trio-Tech (Kuala Lumpur) Sdn. Bhd. [Member] | ||
Ownership | 55% | |
Prestal Enterprise Sdn. Bhd. [Member] | ||
Ownership | 76% | |
Trio-Tech (SIP) Co., Ltd [Member] | ||
Ownership | 100% | [1] |
Trio-Tech (Chongqing) Co. Ltd [Member] | ||
Ownership | 100% | [1] |
SHI International Pte. Ltd. (Dormant) [Member] | ||
Ownership | 55% | |
PT SHI Indonesia (Dormant) [Member] | ||
Ownership | 52% | |
Trio-Tech (Tianjin) Co., Ltd, [Member] | ||
Ownership | 100% | [1] |
Trio-tech (Jiangsu) Co. Ltd. [Member] | ||
Ownership | 51% | |
[1]100% owned by Trio-Tech International Pte. Ltd. |
Note 3 - Term Deposits (Details
Note 3 - Term Deposits (Details Textual) $ in Thousands | Jun. 30, 2023 USD ($) |
Deposits Assets, Restricted, Current, Net | $ 739 |
Deposits Assets, Restricted Term Deposits, Noncurrent, Net | $ 1,716 |
Note 3 - Term Deposits - Term D
Note 3 - Term Deposits - Term Deposits (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Short-term deposits | $ 6,901 | $ 5,619 |
Currency translation effect on short-term deposits | (274) | (199) |
Total short-term deposits | 6,627 | 5,420 |
Restricted term deposits - Current | 755 | 0 |
Currency translation effect on restricted term deposits | (16) | 0 |
Total restricted term deposits - Current | 739 | 0 |
Restricted term deposits - Non-Current | 1,763 | 1,746 |
Currency translation effect on restricted term deposits | (47) | (68) |
Total restricted term deposits - Non-Current | 1,716 | 1,678 |
Total term deposits | $ 9,082 | $ 7,098 |
Note 4 - Trade Account Receiv_3
Note 4 - Trade Account Receivables and Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Beginning | $ 243 | $ 311 |
Additions charged to expenses | 9 | 48 |
Recovered | (20) | (106) |
Currency translation effect | (15) | (10) |
Ending | $ 217 | $ 243 |
Note 5 - Loans Receivable Fro_3
Note 5 - Loans Receivable From Property Development Projects (Details Textual) - Jun. 30, 2023 $ in Thousands, ¥ in Millions | USD ($) | CNY (¥) |
Financing Receivable, before Allowance for Credit Loss, Current | $ 276 | ¥ 2 |
Financing Receivable, Allowance for Credit Losses, Current | 276 | |
Financing Receivable, before Allowance for Credit Loss, Noncurrent | $ 689 | ¥ 5 |
Note 5 - Loans Receivable Fro_4
Note 5 - Loans Receivable From Property Development Projects - Loans Receivable (Details) - Jun. 30, 2023 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
JiangHuai (Project – Yu Jin Jiang An) | $ 276 | ¥ 2,000 |
Less: allowance for doubtful receivables | (276) | (2,000) |
Net loan receivables from property development projects | 0 | 0 |
Jun Zhou Zhi Ye | 689 | 5,000 |
Less: transfer – down-payment for purchase of investment property | (689) | (5,000) |
Net loan receivables from property development projects | $ 0 | ¥ 0 |
Note 6 - Inventories - Inventor
Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 |
Raw materials | $ 1,389 | $ 1,764 | |
Work in progress | 1,132 | 683 | |
Finished goods | 178 | 238 | |
Less: provision for obsolete inventories | (648) | (674) | $ (679) |
Currency translation effect | 100 | 247 | |
Inventory, Net | $ 2,151 | $ 2,258 |
Note 6 - Inventories - Changes
Note 6 - Inventories - Changes in Provision for Obsolete Inventories (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Beginning | $ 674 | $ 679 |
Additions charged to expenses | 61 | 17 |
Usage – disposition | (40) | (34) |
Currency translation effect | (47) | 12 |
Ending | $ 648 | $ 674 |
Note 7 - Assets Held for Sale (
Note 7 - Assets Held for Sale (Details Textual) ¥ in Thousands, $ in Thousands | 3 Months Ended | ||
Jun. 30, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 USD ($) | |
Number of Equipment Held for Sale | 2 | ||
Asset, Held-for-Sale, Not Part of Disposal Group, Current | $ 274 | ¥ 1,985 | $ 0 |
Note 8 - Investment Propertie_2
Note 8 - Investment Properties (Details Textual) ¥ in Thousands, $ in Thousands | 1 Months Ended | 12 Months Ended | ||||||||||||
Feb. 01, 2023 USD ($) | Feb. 01, 2023 CNY (¥) | Aug. 31, 2022 USD ($) | Aug. 31, 2022 CNY (¥) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2010 USD ($) | Jun. 30, 2010 CNY (¥) | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 CNY (¥) | Mar. 31, 2010 USD ($) m² | Mar. 31, 2010 CNY (¥) m² | Jun. 30, 2008 USD ($) | Jun. 30, 2008 CNY (¥) | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 894 | $ 894 | ¥ 5,554 | ¥ 5,554 | ||||||||||
TTCQ [Member] | ||||||||||||||
Lease, Operating Lease, Number of Properties | 2 | 2 | ||||||||||||
Area of Real Estate Property (Square Metre) | m² | 311.99 | 311.99 | ||||||||||||
Purchase Obligation, Total | $ 648 | ¥ 4,025 | ||||||||||||
Mao Ye [Member] | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land | $ 894 | ¥ 5,554 | ||||||||||||
Monthly Lease Revenue Amount | $ 2 | ¥ 14 | ||||||||||||
Operating Lease, Lease Income | 14 | 4 | ||||||||||||
Depreciation | 15 | 16 | ||||||||||||
Jiang Huai [Member] | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land | 580 | 580 | 3,600 | 3,600 | ||||||||||
Depreciation | 26 | 28 | ||||||||||||
Payments to Acquire Projects | $ 580 | ¥ 3,600 | ||||||||||||
FuLi [Member] | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land | 648 | 648 | ¥ 4,025 | ¥ 4,025 | ||||||||||
Monthly Lease Revenue Amount | $ 1 | ¥ 6 | ||||||||||||
Operating Lease, Lease Income | 10 | 21 | ||||||||||||
Depreciation | 30 | 31 | ||||||||||||
CHINA | ||||||||||||||
Operating Lease, Lease Income | 24 | 25 | ||||||||||||
Depreciation | $ 71 | $ 75 |
Note 8 - Investment Propertie_3
Note 8 - Investment Properties - Investment Properties (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2023 USD ($) | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Jun. 30, 2008 USD ($) | Jun. 30, 2008 CNY (¥) |
Purchase of rental property – Property I – MaoYe Property | $ 894 | ¥ 5,554 | $ 894 | ¥ 5,554 | ||
Currency translation | 199 | 0 | 89 | 0 | ||
Reclassification as “Assets held for sale” | (807) | (5,554) | (807) | (5,554) | ||
Reclassification from “Assets held for sale” | 301 | 2,024 | 301 | 2,024 | ||
Currency translation | (199) | 0 | (89) | 0 | ||
Gross investment in rental property | 1,330 | 9,649 | 1,440 | 9,649 | ||
Accumulated depreciation on rental property | (1,123) | (7,884) | (1,122) | (7,523) | ||
Reclassification From Assets | (856) | (6,091) | (855) | (5,730) | ||
Net investment in property – China | 474 | 3,558 | 585 | 3,919 | ||
Mao Ye [Member] | ||||||
Purchase of rental property – Property I – MaoYe Property | $ 894 | ¥ 5,554 | ||||
Currency translation | (87) | 0 | (87) | 0 | ||
Reclassification as “Assets held for sale” | 410 | 2,822 | 410 | 2,822 | ||
Reclassification from “Assets held for sale” | (143) | (1,029) | (143) | (1,029) | ||
Currency translation | 87 | 0 | 87 | 0 | ||
Jiang Huai [Member] | ||||||
Purchase of rental property – Property I – MaoYe Property | 580 | 3,600 | 580 | 3,600 | ||
FuLi [Member] | ||||||
Purchase of rental property – Property I – MaoYe Property | $ 648 | ¥ 4,025 | $ 648 | ¥ 4,025 |
Note 9 - Property, Plant and _3
Note 9 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation, Depletion and Amortization, Nonproduction | $ 5,088 | $ 3,075 |
Property, Plant and Equipment [Member] | ||
Depreciation, Depletion and Amortization, Nonproduction | $ 3,727 | $ 2,126 |
Note 9 - Property, Plant and _4
Note 9 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Property, plant and equipment, gross | $ 45,700 | $ 41,554 |
Less: accumulated depreciation | (33,110) | (30,116) |
Accumulated amortization on equipment under finance leases | (1,402) | (1,330) |
Total accumulated depreciation | (34,512) | (31,446) |
Property, plant and equipment before currency translation effect, net | 11,188 | 10,108 |
Currency translation effect | (2,844) | (1,627) |
Property, plant and equipment, net | 8,344 | 8,481 |
Building and Building Improvements [Member] | ||
Property, plant, and equipment, gross | $ 5,243 | 5,190 |
Building and Building Improvements [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Building and Building Improvements [Member] | Maximum [Member] | ||
Useful life (Year) | 20 years | |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 9,623 | 6,545 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Useful life (Year) | 27 years | |
Machinery and Equipment [Member] | ||
Property, plant, and equipment, gross | $ 28,001 | 27,172 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Useful life (Year) | 7 years | |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment, gross | $ 1,308 | 1,234 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Useful life (Year) | 5 years | |
Equipment Under Finance Lease [Member] | ||
Equipment under finance leases | $ 1,525 | $ 1,413 |
Equipment Under Finance Lease [Member] | Minimum [Member] | ||
Useful life (Year) | 3 years | |
Equipment Under Finance Lease [Member] | Maximum [Member] | ||
Useful life (Year) | 5 years |
Note 10 - Other Assets (Details
Note 10 - Other Assets (Details Textual) ¥ in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 02, 2010 CNY (¥) | Jun. 30, 2021 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 CNY (¥) | Oct. 02, 2013 USD ($) | Oct. 02, 2013 CNY (¥) | Dec. 02, 2010 USD ($) | Dec. 02, 2010 CNY (¥) | |
Payments to Acquire Investments, Total | ¥ 10,000 | $ 6,794 | $ 2,079 | |||||||
Percentage of Investment | 10% | 10% | 10% | 10% | ||||||
Management Fee Paid | ¥ | ¥ 5,000 | |||||||||
Management Fee Payable | 803 | ¥ 5,000 | ¥ 5,000 | |||||||
Loss On Joint Venture | (22) | (137) | $ 22 | ¥ 137 | ||||||
Investments | 803 | 5,000 | $ 803 | ¥ 5,000 | ||||||
Loans and Leases Receivable, Related Parties | 689 | 5,000 | ¥ 5,000 | |||||||
Interest Receivable | 172 | 1,250 | 1,250 | |||||||
Impairment of Interest | $ 125 | ¥ 906 | ¥ 906 | |||||||
Asset Impairment Charges, Total | $ | $ 1,580 |
Note 10 - Other Assets - Other
Note 10 - Other Assets - Other Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Deposits for rental and utilities and others | $ 117 | $ 142 |
Currency translation effect | (1) | (5) |
Total | $ 116 | $ 137 |
Note 10 - Other Assets - Down P
Note 10 - Other Assets - Down Payment for Purchase of Investment Properties (Details) ¥ in Thousands, $ in Thousands | Jun. 30, 2023 CNY (¥) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 CNY (¥) | Oct. 02, 2013 USD ($) | Oct. 02, 2013 CNY (¥) | Dec. 02, 2010 USD ($) | Dec. 02, 2010 CNY (¥) | ||
Original Investment (10% of Junzhou equity) | ¥ 10,000 | $ 1,606 | |||||||
Less: Management Fee | (5,000) | (803) | ¥ (5,000) | ||||||
Net Investment | 5,000 | 803 | $ 803 | ¥ 5,000 | |||||
Less: Share of Loss on Joint Venture | (137) | (22) | $ 22 | ¥ 137 | |||||
Net Investment as Down Payment (Note *a) | [2] | 4,863 | [1] | 781 | |||||
Loans Receivable | 5,000 | 689 | ¥ 5,000 | ||||||
Interest Receivable | 1,250 | 172 | 1,250 | ||||||
Less: Impairment of Interest | (906) | (125) | ¥ (906) | ||||||
Transferred to Down Payment (Note *b) | [3] | 5,344 | 736 | ||||||
* Down Payment for Purchase of Investment Properties | 10,207 | 1,407 | |||||||
Add: Effect of foreign currency exchange | 133 | ||||||||
Less: Provision of Impairment loss on other assets | ¥ (10,207) | $ (1,580) | |||||||
[1]Down Payment for Purchase of Investment Properties[2]In Fiscal 2011, the Company signed a Joint Venture agreement (the “Agreement”) with Jia Sheng Property Development Co. Ltd. (the “Developer”) to form a new company, Junzhou Co. Limited (“Joint Venture” or “Junzhou”), to jointly develop the “Singapore Themed Park” project (the “Project”). The Company paid RMB10,000 for the 10% investment in the Joint Venture. The Developer paid the Company a management fee of RMB 5,000 in cash upon signing of the Agreement, with a remaining fee of RMB 5,000 payable upon fulfilment of certain conditions in accordance with the Agreement. The Company further reduced its investment by RMB 137, or approximately $22, through the losses from operations incurred by the Joint Venture.[3]Amounts of RMB 5,000, or approximately $728, as disclosed in Note 5, plus the interest receivable on long-term loan receivable of RMB 1,250, or approximately $182, and impairment on interest of RMB 906, or approximately $132. |
Note 11 - Lines Of Credit- Line
Note 11 - Lines Of Credit- Line of Credit (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Trio Tech International Pte Ltd [Member] | ||
Credit Limitation | $ 3,907 | $ 4,090 |
Unused credit | $ 3,701 | $ 3,651 |
Trio Tech International Pte Ltd [Member] | Minimum [Member] | ||
Interest Rate | 1.25% | 1.85% |
Trio Tech International Pte Ltd [Member] | Maximum [Member] | ||
Interest Rate | 1.30% | 5.50% |
Universal (Far East) Pte. Ltd. [Member] | ||
Credit Limitation | $ 1,843 | $ 1,076 |
Unused credit | $ 1,559 | $ 586 |
Universal (Far East) Pte. Ltd. [Member] | Minimum [Member] | ||
Interest Rate | 1.25% | 1.85% |
Universal (Far East) Pte. Ltd. [Member] | Maximum [Member] | ||
Interest Rate | 1.30% | 5.50% |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | ||
Credit Limitation | $ 319 | $ 338 |
Unused credit | $ 319 | $ 338 |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | Cost of Funds Rate [Member] | ||
Interest Rate | 2% | 2% |
Note 12 - Accrued Expense - Acc
Note 12 - Accrued Expense - Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Payroll and related costs | $ 1,880 | $ 2,158 |
Commissions | 158 | 116 |
Legal and audit | 280 | 320 |
Sales tax | 140 | 531 |
Utilities | 236 | 273 |
Warranty | 24 | 16 |
Accrued purchase of materials and property, plant and equipment | 1,214 | 905 |
Provision for reinstatement | 380 | 308 |
Contract liabilities | 1,275 | 988 |
Other accrued expense | 50 | 581 |
Currency translation effect | (69) | (192) |
Total | $ 5,568 | $ 6,004 |
Note 13 - Warranty Accrual - Wa
Note 13 - Warranty Accrual - Warrant Liability (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Beginning | $ 16 | $ 14 |
Additions charged to cost and expense | 32 | 7 |
(Utilization)/ Recovery | (25) | (4) |
Currency translation effect | (1) | 1 |
Ending | $ 24 | $ 16 |
Note 14 - Bank Loans Payable -
Note 14 - Bank Loans Payable - Bank Loans (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Bank loan payable | $ 1,352 | $ 1,744 |
Current portion of bank loans payable | 503 | 503 |
Currency translation effect on current portion of bank loans | (28) | (31) |
Current portion of bank loans payable | 475 | 472 |
Long-term portion of bank loans payable | 933 | 1,357 |
Currency translation effect on long-term portion of bank loans | (56) | (85) |
Long-term portion of bank loans payable | 877 | 1,272 |
Notes Payable To Banks 1 [Member] | ||
Bank loan payable | 957 | 1,392 |
Notes Payable To Banks 2 [Member] | ||
Bank loan payable | 84 | 128 |
Notes Payable to Bank 3 [Member] | ||
Bank loan payable | 169 | 224 |
Notes Payable to Bank 4 [Member] | ||
Bank loan payable | $ 142 | $ 0 |
Note 14 - Bank Loans Payable _2
Note 14 - Bank Loans Payable - Bank Loans (Details) (Parentheticals) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Notes Payable To Banks 1 [Member] | ||
Basis spread rate | 4.60% | 3.791% |
Carrying value | $ 2,208 | $ 2,372 |
Notes Payable To Banks 1 [Member] | Prime Rate [Member] | ||
Basis spread rate | 2% | 2% |
Notes Payable To Banks 2 [Member] | ||
Fixed Interest Rate | 3.20% | 3.20% |
Notes Payable to Bank 3 [Member] | ||
Fixed Interest Rate | 3% | 3% |
Notes Payable to Bank 4 [Member] | ||
Fixed Interest Rate | 3% | 3% |
Note 14 - Bank Loans Payable _3
Note 14 - Bank Loans Payable - Future Minimum Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
2024 | $ 475 | $ 481 |
2025 | 262 | 246 |
2026 | 231 | 214 |
2027 | 212 | 190 |
Thereafter | 172 | 141 |
Total obligations and commitments | $ 1,352 | 1,744 |
2023 | $ 472 |
Note 17 - Concentration of Cu_3
Note 17 - Concentration of Customers (Details Textual) | Jun. 30, 2023 | Jun. 30, 2022 |
Number of Major Customers | 3 | 3 |
Note 17 - Concentration of Cu_4
Note 17 - Concentration of Customers - Revenue and Trade Accounts Receivables (Details) - Customer Concentration Risk [Member] | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue Benchmark [Member] | Customer A [Member] | ||
Concentration risk | 33.50% | 40.30% |
Revenue Benchmark [Member] | Customer B [Member] | ||
Concentration risk | 14.70% | 5.50% |
Revenue Benchmark [Member] | Customer C [Member] | ||
Concentration risk | 11.20% | 19.40% |
Accounts Receivable [Member] | Customer A [Member] | ||
Concentration risk | 31.20% | 36% |
Accounts Receivable [Member] | Customer B [Member] | ||
Concentration risk | 24% | 8.80% |
Accounts Receivable [Member] | Customer C [Member] | ||
Concentration risk | 15.90% | 24.20% |
Note 18 - Business Segments (De
Note 18 - Business Segments (Details Textual) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Number of Operating Segments | 4 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 43,250 | $ 44,065 |
Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 517 | $ 439 |
Note 18 - Business Segments - B
Note 18 - Business Segments - Business Segment Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues | $ 43,250 | $ 44,065 |
Operating Income / (loss) | 2,228 | 2,353 |
Assets | 42,186 | 43,421 |
Depreciation and amortization | 5,088 | 3,075 |
Capital expenditures | 4,498 | 1,468 |
Corporate, Non-Segment [Member] | ||
Revenues | 0 | 0 |
Operating Income / (loss) | (80) | (641) |
Assets | 500 | 273 |
Depreciation and amortization | 0 | 0 |
Capital expenditures | 26 | 0 |
Manufacturing [Member] | ||
Revenues | 13,827 | 13,526 |
Manufacturing [Member] | Operating Segments [Member] | ||
Revenues | 13,827 | 13,526 |
Operating Income / (loss) | (58) | 275 |
Assets | 13,864 | 14,652 |
Depreciation and amortization | 481 | 417 |
Capital expenditures | 143 | 116 |
Testing Services [Member] | ||
Revenues | 23,130 | 19,477 |
Testing Services [Member] | Operating Segments [Member] | ||
Revenues | 23,130 | 19,477 |
Operating Income / (loss) | 1,648 | 1,313 |
Assets | 24,559 | 25,148 |
Depreciation and amortization | 4,532 | 2,577 |
Capital expenditures | 4,329 | 1,351 |
Distribution [Member] | ||
Revenues | 6,270 | 11,037 |
Distribution [Member] | Operating Segments [Member] | ||
Revenues | 6,270 | 11,037 |
Operating Income / (loss) | 816 | 1,525 |
Assets | 1,275 | 1,740 |
Depreciation and amortization | 0 | 0 |
Capital expenditures | 0 | 0 |
Real Estate Segment [Member] | ||
Revenues | 23 | 25 |
Real Estate Segment [Member] | Operating Segments [Member] | ||
Revenues | 23 | 25 |
Operating Income / (loss) | (98) | (119) |
Assets | 1,988 | 1,608 |
Depreciation and amortization | 75 | 81 |
Capital expenditures | $ 0 | $ 1 |
Note 19 - Other Income - Other
Note 19 - Other Income - Other Income (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Interest income | $ 174 | $ 69 |
Other rental income | 115 | 116 |
Exchange (loss) / gain | (269) | 129 |
Commission income | 0 | 189 |
Dividend income | 0 | 10 |
Other miscellaneous income | 86 | 82 |
Total | $ 106 | $ 595 |
Note 20 - Government Grants (De
Note 20 - Government Grants (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Government Assistance, Amount | $ 153 | $ 228 |
Financial Assistance Received From the Singapore Government [Member] | ||
Government Assistance, Amount | $ 107 | |
Financial Assistance During COVID-19 Pandemic [Member] | ||
Government Assistance, Amount | 228 | |
Financial Assistance During COVID-19 Pandemic [Member] | Singapore and Malaysia Governments [Member] | ||
Government Assistance, Amount | $ 146 |
Note 20 - Government Grants - G
Note 20 - Government Grants - Grants Received (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Government Grant | $ 153 | $ 228 |
Note 21 - Income Taxes (Details
Note 21 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | |
SEC Schedule, 12-09, Valuation Allowances and Reserves, Period Increase (Decrease) | (225) | $ 220 |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Subject to Expiration | 0 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Subject to Expiration | $ 1,940 |
Note 21 - Income Taxes - Schedu
Note 21 - Income Taxes - Schedule of (Loss) Income Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
(Loss) income before provision for income taxes | $ 2,382 | $ 3,054 |
Domestic Tax Authority [Member] | ||
(Loss) income before provision for income taxes | 550 | (1,156) |
Foreign Tax Authority [Member] | ||
(Loss) income before provision for income taxes | $ 1,832 | $ 4,210 |
Note 21 - Income Taxes - Sche_2
Note 21 - Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Federal | $ 104 | $ 72 |
State | 2 | 2 |
Foreign | 410 | 643 |
Current Income Tax Expense (Benefit) | 516 | 717 |
Federal | 0 | 0 |
State | 0 | 0 |
Foreign | 106 | 40 |
Deferred Income Tax Expense (Benefit) | 106 | 40 |
Total | $ 622 | $ 757 |
Note 21 - Income Taxes - Sche_3
Note 21 - Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Statutory federal tax rate | 21% | 21% |
State taxes, net of federal benefit | (1.19%) | (2.00%) |
Permanent items and credits | 16.08% | 2.44% |
Foreign rate differential | (0.44%) | (18.50%) |
Other | (0.09%) | 0% |
Changes in valuation allowance | (9.43%) | 21.88% |
Effective rate | 26.141% | 24.82% |
Note 21 - Income Taxes - Sche_4
Note 21 - Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Net operating losses and credits | $ 704 | $ 789 |
Inventory valuation | 68 | 125 |
Right-of-use assets | 61 | |
Provision for bad debts | 0 | 223 |
Accrued vacation | 11 | 8 |
Accrued expense | 172 | 265 |
Fixed asset basis | 9 | 4 |
Investment | 71 | 77 |
General business credit | 22 | 0 |
Other | 0 | |
Other | (106) | |
Total deferred tax assets | 1,118 | 1,385 |
Depreciation | (342) | (371) |
Other | (8) | (3) |
Total deferred tax liabilities | (411) | (374) |
Subtotal | 707 | 1,011 |
Valuation allowance | (617) | (842) |
Net deferred tax assets | 90 | 169 |
Deferred tax assets | 100 | 169 |
Deferred tax liabilities | $ (10) | $ 0 |
Note 22 - Revenue 1 (Details Te
Note 22 - Revenue 1 (Details Textual) $ in Thousands | Jun. 30, 2022 USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 326 |
Note 22 - Revenue 2 (Details Te
Note 22 - Revenue 2 (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Revenue, Remaining Performance Obligation, Amount | $ 326 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-06-30 | ||
Revenue, Remaining Performance Obligation, Amount | $ 55 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 2 years |
Note 22 - Revenue - Contract Ba
Note 22 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Trade Accounts Receivable | $ 9,804 | $ 11,592 |
Accounts Payable | 1,667 | 2,401 |
Contract Liabilities | $ 1,275 | $ 988 |
Note 23 - Earnings Per Share (D
Note 23 - Earnings Per Share (Details Textual) - $ / shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding (in shares) | 656,375 | 656,375 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ 2.53 | $ 2.53 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ 7.76 | $ 7.76 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 285,500 | 310,500 |
Note 23 - Earnings Per Share -
Note 23 - Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax | $ 1,545 | $ 2,396 |
Loss attributable to Trio-Tech International common shareholders from discontinued operations, net of tax | (1) | (1) |
Net income attributable to Trio-Tech International Common Shareholders | $ 1,544 | $ 2,395 |
Basic (in shares) | 4,082 | 3,972 |
Dilutive effect of stock options (in shares) | 83 | 202 |
Number of shares used to compute earnings per share diluted (in shares) | 4,165 | 4,174 |
Basic earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | $ 0.38 | $ 0.61 |
Loss per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | (0.01) |
Basic earnings per share from net income attributable to Trio-Tech International (in dollars per share) | 0.38 | 0.60 |
Diluted earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | 0.37 | 0.57 |
Diluted earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | 0 |
Diluted earnings per share from net income attributable to Trio-Tech International (in dollars per share) | $ 0.37 | $ 0.57 |
Note 24 - Stock Options (Detail
Note 24 - Stock Options (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Dec. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | Sep. 24, 2017 | Jun. 30, 2007 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0 | ||||||||
Employee Stock Option Plan 2017 [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 600,000 | 300,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 300,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 5 years | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 65,000 | 40,500 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 4.84 | $ 3.69 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 5,000 | 71,125 | |||||||
Share-Based Payment Arrangement, Expense | $ 145 | $ 117 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 144 | $ 130 | $ 144 | $ 130 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 3 years | 3 years | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Outstanding, Weighted Average Remaining Contractual Term (Year) | 1 year 11 months 26 days | 1 year 11 months 8 days | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 134,625 | 160,500 | 134,625 | 160,500 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.49 | $ 4.93 | $ 4.49 | $ 4.93 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year) | 2 years 6 months 25 days | 1 year 11 months 23 days | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 605 | $ 632 | $ 605 | $ 632 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 216,375 | 236,375 | 216,375 | 236,375 | 267,000 | ||||
Employee Stock Option Plan 2017 [Member] | Share-Based Payment Arrangement, Tranche One [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25% | ||||||||
Employee Stock Option Plan 2007 [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 0 | 600,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 37,500 | |||||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 0 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 0 | 0 | 0 | 0 | 37,500 | ||||
Director Plan 2017 [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 600,000 | 300,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 300,000 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 5 years | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 100,000 | 100,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 20,000 | 0 | |||||||
Share-Based Payment Arrangement, Expense | $ 213 | $ 353 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Aggregate Intrinsic Value | $ 213 | $ 353 | $ 213 | $ 353 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 420,000 | 420,000 | 420,000 | 420,000 | 320,000 | ||||
Share Price (in dollars per share) | $ 2.13 | $ 3.53 | $ 2.13 | $ 3.53 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares (in shares) | 0 | 0 | 0 | 0 | |||||
Director Plan 2007 [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized (in shares) | 0 | 500,000 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 50,000 | |||||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 0 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 0 | 0 | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 0 | 0 | 50,000 | ||||||
Minimum [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year) | 2 years 6 months | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.11% | 0.11% | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 47.30% | 45.38% | |||||||
Maximum [Member] | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year) | 3 years 3 months | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 4.17% | 2.35% | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 73.85% | 55.59% |
Note 24 - Stock Options - Summa
Note 24 - Stock Options - Summary of Options Activities (Details) - Employee Stock Option Plan 2017 [Member] - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Outstanding. options (in shares) | 236,375 | 267,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.21 | $ 4.21 | |
Outstanding, weighted average remaining contractual term (Year) | 2 years 11 months 1 day | 2 years 7 months 9 days | 3 years 2 months 19 days |
Aggregate intrinsic value outstanding | $ 140 | $ 87 | $ 290 |
Granted, options (in shares) | 65,000 | 40,500 | |
Granted, weighted average exercise price (in dollars per share) | $ 4.84 | $ 7.76 | |
Exercised, options (in shares) | (5,000) | (71,125) | |
Exercised, weighted average exercise price (in dollars per share) | $ 3.75 | $ 2.93 | |
Forfeited or expired, options (in shares) | (80,000) | ||
Outstanding, options (in shares) | 216,375 | 236,375 | 267,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.89 | $ 5.21 | $ 4.21 |
Exercisable, options (in shares) | 134,625 | 160,500 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 4.49 | $ 4.93 | |
Exercisable, weighted average remaining contractual term (Year) | 2 years 6 months 25 days | 1 year 11 months 23 days | |
Exercisable, aggregate intrinsic value | $ 125 | $ 66 | |
Granted, weighted average remaining contractual term (Year) | 4 years 8 months 23 days | ||
Exercised, options (in shares) | (5,000) | (71,125) |
Note 24 - Stock Options - Sum_2
Note 24 - Stock Options - Summary of Nonvested Employee Stock (Details) - Employee Stock Option Plan 2017 [Member] - $ / shares | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Non-vested options outstanding (in shares) | 75,875 | 102,250 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 5.98 | $ 2.29 |
Granted (in shares) | 65,000 | 40,500 |
Granted, weighted average grant date fair value (in dollars per share) | $ 4.77 | $ 3.69 |
Vested (in shares) | (49,125) | (66,875) |
Forfeited (in shares) | (10,000) | |
Non-vested options outstanding (in shares) | 81,750 | 75,875 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 5.53 | $ 5.98 |
Note 24 - Stock Options - Sum_3
Note 24 - Stock Options - Summary of Options Activities 2007 Employee Plan (Details) - Employee Stock Option Plan 2007 [Member] - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Outstanding. options (in shares) | 0 | 37,500 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.14 | ||
Outstanding, weighted average remaining contractual term (Year) | 9 months | ||
Aggregate intrinsic value outstanding | $ 34 | ||
Exercised, options (in shares) | 0 | (37,500) | |
Exercised, weighted average exercise price (in dollars per share) | $ 4.14 |
Note 24 - Stock Options - Sum_4
Note 24 - Stock Options - Summary of Options Activities 2017 Directors Plan (Details) - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Director Plan 2017 [Member] | |||
Outstanding. options (in shares) | 420,000 | 320,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.10 | $ 4.27 | |
Outstanding, weighted average remaining contractual term (Year) | 2 years 10 months 28 days | 2 years 10 months 6 days | 3 years 2 months 19 days |
Aggregate intrinsic value outstanding | $ 309 | $ 228 | $ 340 |
Granted, options (in shares) | 100,000 | 100,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 4.51 | $ 7.76 | |
Exercise of stock option (in shares) | 20,000 | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 2.53 | ||
Forfeited or expired, options (in shares) | (80,000) | ||
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 5.98 | ||
Outstanding, options (in shares) | 420,000 | 420,000 | 320,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.91 | $ 5.10 | $ 4.27 |
Exercisable, options (in shares) | 420,000 | 420,000 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 4.91 | $ 5.10 | |
Exercisable, weighted average remaining contractual term (Year) | 2 years 10 months 28 days | 2 years 10 months 6 days | |
Exercisable, aggregate intrinsic value | $ 309 | $ 228 | |
Employee Stock Option Plan 2007 [Member] | |||
Outstanding. options (in shares) | 0 | 37,500 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.14 | ||
Outstanding, weighted average remaining contractual term (Year) | 9 months | ||
Aggregate intrinsic value outstanding | $ 34 | ||
Exercise of stock option (in shares) | 0 | 37,500 | |
Exercised, weighted average exercise price (in dollars per share) | $ 4.14 | ||
Outstanding, options (in shares) | 0 | 0 | 37,500 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.14 | ||
Granted, weighted average remaining contractual term (Year) | 4 years 8 months 23 days |
Note 24 - Stock Options - Sum_5
Note 24 - Stock Options - Summary of Options Activities 2007 Directors Plan (Details) - Director Plan 2007 [Member] - USD ($) | 12 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2021 | |
Outstanding. options (in shares) | 0 | 50,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0 | $ 4.14 | |
Outstanding, weighted average remaining contractual term (Year) | 9 months | ||
Aggregate intrinsic value outstanding | $ 45 | ||
Exercised, options (in shares) | 0 | (50,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ 4.14 | ||
Forfeited or expired, options (in shares) | 0 | ||
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 0 | ||
Outstanding, options (in shares) | 0 | 50,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0 | $ 4.14 | |
Exercisable, options (in shares) | 0 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 0 |
Note 25 - Leases (Details Textu
Note 25 - Leases (Details Textual) $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Lessor Asset under Operating Lease, Term (Year) | 20 years | ||
Depreciation, Lessor Asset under Operating Lease | $ 71 | $ 75 | |
Lessor, Sales-type Leased Assets, Number of Units | 4 | 4 | |
Lessor, Sales-type Lease, Term of Contract (Year) | 3 years | 3 years | |
Lessor, Sales-type Lease, Weighted Average Effective Interest Rate | 11.16% | 11.16% | 11.16% |
Lessor, Sales-type Lease, Weighted Average Remaining Lease Term (Year) | 9 months | 1 year 9 months | |
Minimum [Member] | |||
Lessor, Operating Lease, Term of Contract (Month) | 12 months | 12 months | |
Lessor, Sales-type Lease, Weighted Average Remaining Lease Term (Year) | 1 year | ||
Maximum [Member] | |||
Lessor, Operating Lease, Term of Contract (Month) | 60 months | 60 months | |
Lessee, Operating Lease, Remaining Lease Term (Year) | 4 years | 4 years |
Note 25 - Leases - Future Minim
Note 25 - Leases - Future Minimum Rental Income (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Payments to be received, year one | $ 141 | $ 6 |
Payments to be received, year two | 141 | 27 |
Payments to be received, year three | 46 | 28 |
Payments to be received, year four | 16 | 29 |
Payments to be received, total | $ 344 | 100 |
Payments to be received, year five | $ 10 |
Note 25 - Leases - Components o
Note 25 - Leases - Components of Financed Sales Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Gross financial sales receivable | $ 17 | $ 41 |
Unearned finance income | (1) | (3) |
Financed sales receivable | 16 | 38 |
Net financed sales receivables due within one year | 16 | 21 |
Financed sales receivable | $ 0 | $ 17 |
Note 25 - Leases - Supplement B
Note 25 - Leases - Supplement Balance Sheet Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Plant and equipment, at cost | $ 1,734 | $ 1,727 |
Accumulated depreciation | (1,075) | (1,179) |
Plant and Equipment, Net | 658 | 548 |
Current portion of finance leases | 107 | 118 |
Net of current portion of finance leases | 42 | 119 |
Total Finance Lease Liabilities | 149 | 237 |
Operating lease right-of-use assets | 2,609 | 3,152 |
Current portion of operating leases | 1,098 | 1,218 |
Net of current portion of operating leases | 1,511 | 1,934 |
Total Operating Lease Liabilities | 2,609 | 3,152 |
Lease Cost | ||
Interest on finance lease | 2 | 29 |
Amortization of right-of-use assets | 43 | 209 |
Total finance lease cost | 45 | 238 |
Operating Lease Costs | $ 1,518 | $ 949 |
Note 25 - Leases - Other Inform
Note 25 - Leases - Other Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating cash flows from finance leases | $ (10) | $ (21) |
Operating cash flows from operating leases | (1,300) | (1,151) |
Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities | $ 1,297 | $ 1,276 |
Finance leases (Year) | 1 year 7 months 2 days | 2 years 7 days |
Operating leases (Year) | 2 years 5 months 1 day | 2 years 9 months 29 days |
Finance leases | 3.22% | 3.26% |
Operating leases | 5.68% | 5.53% |
Note 25 - Leases - Future Min_2
Note 25 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Jun. 30, 2022 |
Year one, operating leases | $ 1,321 | $ 1,357 |
Year one, finance leases | 112 | 129 |
Year two, operating leases | 846 | 1,032 |
Year two, finance leases | 33 | 104 |
Year three, operating leases | 570 | 554 |
Year three, finance leases | 12 | 20 |
After year three, operating leases | 64 | |
After year three, finance leases | 0 | |
Total future minimum lease payments, operating lease | 2,801 | 3,435 |
Total future minimum lease payments | 157 | 253 |
Less: amount representing interest, operating lease | (192) | (283) |
Less: amount representing interest | (8) | (16) |
Present value of net minimum lease payments, operating lease | 2,609 | 3,152 |
Present value of net minimum lease payments | 149 | 237 |
Current, operating lease | 1,098 | 1,218 |
Current | 107 | 118 |
Non-current, operating lease | 1,511 | 1,934 |
Non-Current | $ 42 | 119 |
Year four, operating leases | 423 | |
Year four, finance leases | 0 | |
Thereafter, operating lease | 69 | |
Thereafter, finance lease | $ 0 |
Note 26 - Noncontrolling Inte_3
Note 26 - Noncontrolling Interest (Details Textual) | Jun. 30, 2023 |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 45% |
PT SHI Indonesia [Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 48% |
Prestal Enterprise Sdn. Bhd. [Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 24% |
Trio-tech (Jiangsu) Co. Ltd. [Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49% |
Trio-Tech (Kuala Lumpur) Sdn. Bhd. [Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 45% |
SHI International Pte. Ltd. (Dormant) [Member] | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 45% |
Note 26 - Noncontrolling Inte_4
Note 26 - Noncontrolling Interest - Equity Attributable to Noncontrolling Interest (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net income | $ 1,758 | $ 2,299 |
Translation adjustment | (616) | (1,275) |
Noncontrolling Interest [Member] | ||
Beginning balance | 128 | 419 |
Net income | 214 | (96) |
Dividend declared by a subsidiary | 0 | (122) |
Translation adjustment | (177) | (73) |
Ending balance | $ 165 | $ 128 |