Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Sep. 30, 2023 | Nov. 01, 2023 | |
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 | Q1 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 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 | NYSE | |
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 | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,097,430 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 8,333 | $ 7,583 |
Short-term deposits | 5,946 | 6,627 |
Trade accounts receivable, less allowance for doubtful accounts of $212 and $217, respectively | 10,973 | 9,804 |
Other receivables | 1,671 | 939 |
Inventories, less provision for obsolete inventories of $648 and $648, respectively | 4,023 | 2,151 |
Prepaid expenses and other current assets | 660 | 694 |
Assets held for sale | 0 | 274 |
Financed sales receivable | 11 | 16 |
Restricted term deposits | 737 | 739 |
Total current assets | 32,354 | 28,827 |
NON-CURRENT ASSETS: | ||
Deferred tax assets | 152 | 100 |
Investment properties, net | 458 | 474 |
Property, plant and equipment, net | 7,290 | 8,344 |
Operating lease right-of-use assets | 2,563 | 2,609 |
Other assets | 163 | 116 |
Restricted term deposits | 1,719 | 1,716 |
Total non-current assets | 12,345 | 13,359 |
TOTAL ASSETS | 44,699 | 42,186 |
Bank loans payable, net of current portion | 809 | 877 |
Finance leases, net of current portion | 24 | 42 |
Operating leases, net of current portion | 1,372 | 1,511 |
Income taxes payable, net of current portion | 142 | 255 |
Deferred tax liabilities | 7 | 10 |
Other non-current liabilities | 227 | 594 |
Total non-current liabilities | 2,581 | 3,289 |
TOTAL LIABILITIES | 15,044 | 12,615 |
CURRENT LIABILITIES: | ||
Lines of credit | 297 | 0 |
Accounts payable | 2,556 | 1,660 |
Accrued expenses | 7,507 | 5,568 |
Income taxes payable | 393 | 418 |
Current portion of bank loans payable | 423 | 475 |
Current portion of finance leases | 97 | 107 |
Current portion of operating leases | 1,190 | 1,098 |
Total current liabilities | 12,463 | 9,326 |
TRIO-TECH INTERNATIONAL’S SHAREHOLDERS’ EQUITY: | ||
Common stock, no par value, 15,000,000 shares authorized; 4,096,680 shares issued outstanding as at September 30 and June 30, 2023 | 12,819 | 12,819 |
Paid-in capital | 5,126 | 5,066 |
Accumulated retained earnings | 10,993 | 10,763 |
Accumulated other comprehensive income-translation adjustments | 554 | 758 |
Total Trio-Tech International shareholders’ equity | 29,492 | 29,406 |
Non-controlling interest | 163 | 165 |
TOTAL EQUITY | 29,655 | 29,571 |
TOTAL LIABILITIES AND EQUITY | $ 44,699 | $ 42,186 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Allowance for doubtful accounts | $ 212 | $ 217 |
Provision for obsolete inventory | $ 648 | $ 648 |
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 | 4,096,680 |
Common stock, outstanding (in shares) | 4,096,680 | 4,096,680 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue | ||
Revenues | $ 9,966 | $ 11,939 |
Cost of Sales | ||
Cost of goods and services sold | 7,446 | 8,317 |
Gross Margin | 2,520 | 3,622 |
Operating Expenses: | ||
General and administrative | 2,158 | 2,305 |
Selling | 187 | 173 |
Research and development | 85 | 73 |
Loss on disposal of property, plant and equipment | 91 | 4 |
Total operating expenses | 2,521 | 2,555 |
(Loss) / Income from Operations | (1) | 1,067 |
Other Income/(Expenses) | ||
Interest expenses | (24) | (44) |
Other income, net | 196 | 158 |
Government Grant | 73 | 21 |
Total other income | 245 | 135 |
Income from Continuing Operations before Income Taxes | 244 | 1,202 |
Income Tax Expenses | (37) | (225) |
Income from Continuing Operations before Non-controlling Interest, Net of Tax | 207 | 977 |
Discontinued Operations | ||
Income from discontinued operations, net of tax | 0 | 1 |
NET INCOME | 207 | 978 |
Less: Net (loss) / income attributable to the non-controlling interest | (23) | 96 |
Net Income Attributable to Trio-Tech International Common Shareholders | 230 | 882 |
Amounts Attributable to Trio-Tech International Common Shareholders: | ||
Income from continuing operations, net of tax | 227 | 882 |
Income from discontinued operations, net of tax | 3 | 0 |
Net Income Attributable to Trio-Tech International Common Shareholders | $ 230 | $ 882 |
Basic Earnings per Share: | ||
Basic earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | $ 0.06 | $ 0.22 |
Basic earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | 0 |
Basic Earnings per Share from Net Income Attributable to Trio-Tech International (in dollars per share) | 0.06 | 0.22 |
Diluted Earnings per Share: | ||
Diluted earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | 0.05 | 0.21 |
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) | $ 0.05 | $ 0.21 |
Weighted average number of common shares outstanding | ||
Basic (in shares) | 4,096 | 4,077 |
Dilutive effect of stock options (in shares) | 184 | 81 |
Number of shares used to compute earnings per share diluted (in shares) | 4,280 | 4,158 |
Manufacturing [Member] | ||
Revenue | ||
Revenues | $ 2,885 | $ 3,585 |
Cost of Sales | ||
Cost of goods and services sold | 2,049 | 2,525 |
Testing Services [Member] | ||
Revenue | ||
Revenues | 5,164 | 6,364 |
Cost of Sales | ||
Cost of goods and services sold | 3,784 | 4,126 |
Distribution [Member] | ||
Revenue | ||
Revenues | 1,910 | 1,982 |
Cost of Sales | ||
Cost of goods and services sold | 1,596 | 1,648 |
Real Estate Segment [Member] | ||
Revenue | ||
Revenues | 7 | 8 |
Cost of Sales | ||
Cost of goods and services sold | $ 17 | $ 18 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Comprehensive Income Attributable to Trio-Tech International Common Shareholders | ||
Net income | $ 207 | $ 978 |
Foreign currency translation, net of tax | (183) | (1,213) |
Comprehensive Income / (Loss) | 24 | (235) |
Less: Comprehensive (loss) / income attributable to the non-controlling interests | (2) | 79 |
Comprehensive Income / (Loss) Attributable to Trio-Tech International Common Shareholders | $ 26 | $ (314) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ 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, 2022 | 4,072 | |||||
Balance at Jun. 30, 2022 | $ 12,750 | $ 4,708 | $ 9,219 | $ 1,197 | $ 128 | $ 28,002 |
Stock option expenses | 0 | 32 | 0 | 0 | 0 | 32 |
Net (loss) / income | 0 | 0 | 882 | 0 | 96 | 978 |
Dividend declared by subsidiary | 0 | 0 | 0 | 0 | 0 | 0 |
Exercise of stock option | 19 | 0 | 0 | 0 | 0 | 19 |
Translation adjustment | $ 0 | 0 | 0 | (1,196) | (17) | (1,213) |
Exercise of stock option (in shares) | 5 | |||||
Balance (in shares) at Sep. 30, 2022 | 4,077 | |||||
Balance at Sep. 30, 2022 | $ 12,769 | 4,740 | 10,101 | 1 | 207 | 27,818 |
Balance (in shares) at Jun. 30, 2023 | 4,097 | |||||
Balance at Jun. 30, 2023 | $ 12,819 | 5,066 | 10,763 | 758 | 165 | 29,571 |
Stock option expenses | 0 | 60 | 0 | 0 | 0 | 60 |
Net (loss) / income | 0 | 0 | 230 | 0 | (23) | 207 |
Dividend declared by subsidiary | 0 | 0 | 0 | 0 | 0 | 0 |
Exercise of stock option | 0 | 0 | 0 | 0 | 0 | 0 |
Translation adjustment | $ 0 | 0 | 0 | (204) | 21 | (183) |
Balance (in shares) at Sep. 30, 2023 | 4,097 | |||||
Balance at Sep. 30, 2023 | $ 12,819 | $ 5,126 | $ 10,993 | $ 554 | $ 163 | $ 29,655 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash Flow from Operating Activities | ||
Net income | $ 207 | $ 978 |
Adjustments to reconcile net income to net cash flow provided by operating activities | ||
Depreciation and amortization | 1,471 | 882 |
Addition / (reversal) of provision for obsolete inventories | 7 | (38) |
Stock option expense | 60 | 32 |
Bad debt recovery | (5) | (17) |
Accrued interest expense, net accrued interest income | (49) | 43 |
Payment of interest portion of finance lease | (2) | (3) |
Loss / (gain) on sale of property, plant and equipment - continuing operations | 91 | (15) |
Warranty recovery, net | 7 | 2 |
Reversal of income tax provision | (1) | 0 |
Deferred tax (benefits) / expense | (56) | 20 |
Repayment of Operating lease | (346) | (380) |
Changes in operating assets and liabilities, net of acquisition effects | ||
Trade accounts receivable | (1,158) | (886) |
Other receivables | (732) | 56 |
Other assets | (47) | 11 |
Inventories | (1,914) | (1,341) |
Prepaid expenses and other current assets | 36 | 537 |
Accounts payable and accrued expenses | 2,861 | 1,469 |
Other non-current liabilities | (367) | 0 |
Income taxes payable | (120) | 211 |
Net Cash (Used in) / Provided by Operating Activities | (57) | 1,561 |
Cash Flow from Investing Activities | ||
Withdrawal from unrestricted term deposits, net | 693 | 2,486 |
Additions to property, plant and equipment | (77) | (1,156) |
Proceeds from disposal of assets held-for-sale | 198 | 0 |
Net Cash Provided by Investing Activities | 814 | 1,330 |
Cash Flow from Financing Activities | ||
Payment on lines of credit | (270) | (938) |
Payment of bank loans | (116) | (117) |
Payment of finance leases | (26) | (36) |
Proceeds from exercising stock options | 0 | 19 |
Proceeds from lines of credit | 556 | 483 |
Proceeds from bank loans | 0 | 175 |
Net Cash Provided by /(Used in) Financing Activities | 144 | (414) |
Effect of Changes in Exchange Rate | (150) | (793) |
Net Increase in Cash, Cash Equivalents, and Restricted Cash | 751 | 1,684 |
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period | 10,038 | 9,376 |
Cash, Cash Equivalents, and Restricted Cash at End of Period | 10,789 | 11,060 |
Supplementary Information of Cash Flows | ||
Interest | 20 | 43 |
Income taxes | 141 | 1 |
Cash | 8,333 | 9,428 |
Restricted term deposits | 737 | 698 |
Restricted Term-Deposits in Non-Current Assets | 1,719 | 934 |
Total Cash, Cash Equivalents, and Restricted Cash Shown in Statements of Cash Flows | $ 10,789 | $ 11,060 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. ORGANIZATION AND BASIS OF PRESENTATION Trio-Tech International (the “Company”, or “TTI”) was incorporated in fiscal year ended June 30, 1958 third first June 30, 2024 ( 2024” 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 accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Form 10 10 X. not June 30, 2023 ( 2023” The results of operations for the three September 30, 2023 not may June 30, 2024. Use of Estimates Significant Accounting Policies. no 1 10 2023. |
Note 2 - New Accounting Pronoun
Note 2 - New Accounting Pronouncements | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 2. NEW ACCOUNTING PRONOUNCEMENTS In June 2016, 2016 13 326: 326” first 2024 not New pronouncements issued but not September 30, 2023, not |
Note 3 - Term Deposits
Note 3 - Term Deposits | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Term Deposits [Text Block] | 3. TERM DEPOSITS Sept. 30, June 30, 2023 2023 (Unaudited) Short-term deposits $ 5,968 $ 6,901 Currency translation effect on short-term deposits (22 ) (274 ) Total short-term deposits 5,946 6,627 Restricted term deposits - Current 739 755 Currency translation effect on restricted term deposits (2 ) (16 ) Total restricted term deposits - Current 737 739 Restricted term deposits – Non-current 1,734 1,763 Currency translation effect on restricted term deposits (15 ) (47 ) Total restricted term deposits - Non-current 1,719 1,716 Total term deposits $ 8,402 $ 9,082 Restricted deposits represent the amount of cash pledged to secure loans payable or trade financing granted by financial institutions, 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. Restricted deposits of $737 as at September 30, 2023 September 30, 2023 |
Note 4 - Trade Accounts Receiva
Note 4 - Trade Accounts Receivable and Allowance for Doubtful Accounts | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. TRADE ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS Accounts receivable 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 The allowance for trade receivable represents management’s estimate of probable losses in our trade receivables as of the date of the financial statements. The allowance provides for probable losses that have been identified with specific customer relationships and for probable losses believed to be inherent in the trade receivables, but that have not The following table represents the changes in the allowance for doubtful accounts: Sept. 30, June 30, 2023 2023 (Unaudited) Beginning $ 217 $ 243 Additions charged to expenses 10 9 Recovered (15 ) (20 ) Currency translation effect - (15 ) Ending $ 212 $ 217 |
Note 5 - Loans Receivable From
Note 5 - Loans Receivable From Property Development Projects | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Loan Receivable From Property Development Projects [Text Block] | 5. LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS The following table presents Trio-Tech (Chongqing) Co. Ltd (“TTCQ”)’s loan receivables from property development projects in China as of September 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 5,000 691 Less: transfer – down-payment for purchase of investment property (5,000 ) (691 ) Net loan receivables from property development projects - - The short-term loan receivables amounting to renminbi (“RMB”) 2,000, June 30, 2011 ( 2011” June 30, 2014 ( 2014” not September 30, 2023 2023. The loan amounting to RMB 5,000, or approximately $691, arose due to TTCQ entering into a Memorandum Agreement with JiaSheng Property Development Co. Ltd. (“JiaSheng”) to invest in their property development projects (Project B- 48 2 2011. June 30, 2015, 8 |
Note 6 - Inventories
Note 6 - Inventories | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6. INVENTORIES Inventories consisted of the following: Sept. 30, 2023 June 30, 2023 (Unaudited) Raw materials $ 1,737 $ 1,389 Work in progress 2,506 1,132 Finished goods 470 178 Less: provision for obsolete inventories (648 ) (648 ) Currency translation effect (42 ) 100 $ 4,023 $ 2,151 The following table represents the changes in provision for obsolete inventories: Sept. 30, 2023 June 30, 2023 (Unaudited) Beginning $ 648 $ 674 Additions charged to expenses 8 61 Usage – disposition (1 ) (40 ) Currency translation effect (7 ) (47 ) Ending $ 648 $ 648 |
Note 7 - Investment Properties
Note 7 - Investment Properties | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Investment Property In China [Text Block] | 7. INVESTMENT PROPERTIES The following table presents the Company’s investment in properties in China as of September 30, 2023. September 30, 2023. Investment Date / Reclassification Investment Amount Investment Amount Date (RMB) (USD) 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 - (196 ) Gross investment in rental property 9,649 1,333 Accumulated depreciation on rental property Sep 30, 2023 (8,005 ) (1,141 ) 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 ) (144 ) (6,212 ) (875 ) Net investment in property – China 3,437 458 The following table presents the Company’s investment in properties in China as of June 30, 2023. June 30, 2023. Investment Date / Reclassification Investment Investment Amount Date Amount (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 Rental Property I - MaoYe Property During the fiscal year ended June 30, 2008, June 30, 2019, thirteen fifteen not two February 1, 2023 4 RMB14, 5% Property purchased from MaoYe generated a rental income of $6 during the three September 30, 2023, 2022. Depreciation expense for MaoYe was $4 for the three September 30, 2023, 2022. Rental Property II - JiangHuai During the year ended June 30, 2010 ( 2010” eight September 30, 2023, not not Property purchased from JiangHuai did not three September 30, 2023 2022. Depreciation expense for JiangHuai was $6 for the three September 30, 2023, 2023. Rental Property III FuLi In Fiscal 2010, two 4,025, April 2013 third 2014. TTCQ is actively searching for tenants to occupy the commercial properties, which are vacant as of the date of this Report. Properties purchased from FuLi generated a rental income of $1 for the three September 30, 2023, $2 2023. Depreciation expense for FuLi was $7 for the three September 30, 2023, 2022. Summary Total rental income for all investment properties in China was $7 for the three September 30, 2023, 2023. Depreciation expenses for all investment properties in China was $17 for the three September 30, 2023, 2023. |
Note 8 - Other Assets
Note 8 - Other Assets | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | 8. OTHER ASSETS Other assets consisted of the following: Sept. 30, June 30, 2023 2023 (Unaudited) Deposits for rental and utilities and others 163 117 Currency translation effect - (1 ) Total $ 163 $ 116 *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 5,000 691 Interest Receivable 1,250 173 Less: Impairment of Interest (906 ) (125 ) Transferred to Down Payment (Note *b) 5,344 739 * Down Payment for Purchase of Investment Properties 10,207 1,520 Add: Effect of foreign currency exchange - 60 Less: Provision of Impairment loss on other assets (10,207 ) (1,580 ) * Down Payment for Purchase of Investment Properties $ - $ - a) In Fiscal 2011, RMB10,000 RMB5,000 RMB5,000 RMB137, $22, In Fiscal 2014, 10% not RMB5,000, $803, 845 Non-monetary Consideration b) Amounts of RMB5,000, 5, RMB1,250, RMB906, 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, September 30, 2023. |
Note 9 - Lines of Credit
Note 9 - Lines of Credit | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Line of Credit [Text Block] | 9. 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 ready and adequate access to funds in global markets. As of September 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% $ 3,880 $ 3,643 Universal (Far East) Pte. Ltd. Lines of Credit Cost of Funds Rate +1.25% $ 1,830 $ 2,243 Trio-Tech Malaysia Sdn. Bhd. Revolving credit Cost of Funds Rate +2% $ 319 $ 319 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 |
Note 10 - Accrued Expense
Note 10 - Accrued Expense | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 10. ACCRUED EXPENSE Accrued expense consisted of the following: Sept. 30, June 30, 2023 2023 (Unaudited) Payroll and related costs $ 2,085 $ 1,880 Commissions 164 158 Legal and audit 337 280 Sales tax 61 140 Utilities 200 236 Warranty 34 24 Accrued purchase of materials and property, plant and equipment 1,758 1,214 Provision for reinstatement 373 380 Contract liabilities 2,233 1,275 Other accrued expense 299 50 Currency translation effect (37 ) (69 ) Total $ 7,507 $ 5,568 |
Note 11 - Assurance Warranty Ac
Note 11 - Assurance Warranty Accrual | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 11. ASSURANCE WARRANTY ACCRUAL The Company provides for the estimated costs that may one Sept. 30, June 30, 2023 2023 (Unaudited) Beginning $ 24 $ 16 Additions charged to cost and expense 8 32 Utilisation (1 ) (25 ) Currency translation effect 3 1 Ending $ 34 $ 24 |
Note 12 - Bank Loans Payable
Note 12 - Bank Loans Payable | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 12. BANK LOANS PAYABLE Bank loans payable consisted of the following: Sept. 30, June 30, 2023 2023 (Unaudited) 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 2.00 4.85 4.6 2,197 2,208 $ 866 $ 957 Financing arrangement at fixed interest rate 3.2 74 84 Financing arrangement at fixed interest rate 3.0 158 169 Financing arrangement at fixed interest rate 3.0 134 142 Total bank loans payable $ 1,232 $ 1,352 Current portion of bank loans payable 411 503 Currency translation effect on current portion of bank loans 12 (28 ) Current portion of bank loans payable 423 475 Long-term portion of bank loans payable 785 933 Currency translation effect on long-term portion of bank loans 24 (56 ) Long-term portion of bank loans payable $ 809 877 Future minimum payments (excluding interest) as at September 30, 2023, Remainder of Fiscal 2024 $ 356 2025 262 2026 231 2027 212 Thereafter 171 Total obligations and commitments $ 1,232 Future minimum payments (excluding interest) as at June 30, 2023, 2024 $ 475 2025 262 2026 231 2027 212 Thereafter 172 Total obligations and commitments $ 1,352 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 13. COMMITMENTS AND CONTINGENCIES 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 14 - Business Segments
Note 14 - Business Segments | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. BUSINESS SEGMENTS The Company operated in 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. Corporate expenses are allocated to the four segments on a combination of factors involving revenue, manpower costs and fixed assets investments, except the Malaysia and China operations, which is calculated based on actual sales. The following segment information table includes segment operating income or loss after including corporate expenses allocated to the segments, which gets eliminated in the consolidation. The following segment Information is unaudited for the three September 30, 2023, September 30, 2022: Business Segment Information: Three Months Operating Ended Net Income / Total Depr. And Capital Sept. 30, Revenue (Loss) Assets Amort. Expenditures Manufacturing 2023 $ 2,885 $ (42 ) $ 18,996 $ 114 $ 19 2022 $ 3,585 $ 176 $ 12,791 $ 97 $ - Testing Services 2023 5,164 (128 ) 21,312 1,326 58 2022 6,364 861 27,770 767 1,156 Distribution 2023 1,910 245 1,958 - - 2022 1,982 265 1,603 - - Real Estate 2023 7 (26 ) 2,059 19 - 2022 8 (14 ) 1,490 18 - Corporate & Unallocated 2023 - (50 ) 374 12 - 2022 - (221 ) 151 - - Total Company 2023 $ 9,966 $ (1 ) $ 44,699 $ 1,471 $ 77 2022 $ 11,939 $ 1,067 $ 43,805 $ 882 $ 1,156 Management is currently evaluating the ongoing contributions of each of its business segments to its current and future revenue and prospects, including its testing segment. As a result, we may one |
Note 15 - Other Income
Note 15 - Other Income | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Other Income and Other Expense Disclosure [Text Block] | 15 OTHER INCOME Other income consisted of the following: Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Interest income $ 78 $ 18 Other rental income 36 27 Exchange gain 59 70 Other miscellaneous income 23 43 Total $ 196 $ 158 |
Note 16 - Government Grants
Note 16 - Government Grants | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Government Assistance [Text Block] | 16 GOVERNMENT GRANTS Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Government grants $ 73 $ 21 In the three September 30, 2023, The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) passed by the United States Congress, provided an ERC scheme which was a refundable tax credit against certain employment taxes. The Consolidated Appropriations Act (the “Appropriations Act”) extended and expanded the availability of the ERC through December 31, 2021. 70% 2021. The Company qualified for the ERC beginning in April 30, 2021 September 30, 2021 three December 31, 2021. three September 30, 2023. |
Note 17 - Income Taxes
Note 17 - Income Taxes | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 17. INCOME TAX 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 the Tax Cuts and Jobs Act, the Company is subject to a tax on global intangible low-taxed income (“GILTI”). GILTI is a tax on foreign income in excess of a deemed return on tangible assets of foreign corporations. Companies subject to GILTI have the option to account for the GILTI tax as a period cost if and when incurred, or to recognize deferred taxes for temporary differences including outside basis differences expected to reverse as GILTI. The Company has elected to account for GILTI as a period cost. GILTI expense was $15 September 30, 2023, 2022, The Company's income tax expense was $37 for the three September 30, 2023, 2023. September 30, 2023 September 30, 2022, 1. The Singapore operations incurred lower income tax due to lower income generated in period ended September 30,2023 2. The Company recognized lower GILTI expenses due to lower income derived from controlled foreign corporation. The Company accrues penalties and interest related to unrecognized tax benefits when necessary, as a component of penalties and interest expense, respectively. The Company had no unrecognized tax benefits or related accrued penalties or interest expense at September 30, 2023. In assessing the ability to realize the deferred tax assets, management considers whether it is more likely than not not not not |
Note 18 - Revenue
Note 18 - Revenue | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 18. REVENUE The Company generates revenue primarily from three 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 standalone selling price basis (“SSP”). Determining the SSP for each distinct performance obligation and allocation of consideration from an arrangement to the individual performance obligations and the appropriate timing of revenue recognition are significant judgments with respect to these arrangements. The Company typically establishes the SSP based on observable prices of products or services sold separately in comparable circumstances to similar clients. The Company 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 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 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 The following table is the reconciliation of contract balances. Sept. 30 June 30 2023 2023 (Unaudited) Trade Accounts Receivable 10,973 9,804 Accounts Payable 2,556 1,660 Contract Liabilities 2,233 1,275 Remaining Performance Obligation The Company had nil September 30, 2023 June 30, 2023 |
Note 19 - Earnings Per Share
Note 19 - Earnings Per Share | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 19. EARNINGS PER SHARE Options to purchase 684,375 shares of Common Stock at exercise prices ranging from $2.53 to $7.76 per share were outstanding as of September 30, 2023. three September 30, 2023, Options to purchase 636,375 shares of Common Stock at exercise prices ranging from $2.53 to $7.76 per share were outstanding as of September 30, 2022. three September 30, 2022, The following table is a reconciliation of the weighted average shares used in the computation of basic and diluted EPS for the period presented herein: Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax $ 227 $ 882 Income attributable to Trio-Tech International common shareholders from discontinued operations, net of tax 3 - Net Income attributable to Trio-Tech International common shareholders $ 230 $ 882 Weighted average number of common shares outstanding – basic 4,096 4,077 Dilutive effect of stock options 184 81 Number of shares used to compute earnings per share – diluted 4,280 4,158 Basic earnings per share from continuing operations attributable to Trio-Tech International 0.06 0.22 Basic earnings per share from discontinued operations attributable to Trio-Tech International - - Basic earnings per share from net income attributable to Trio-Tech International $ 0.06 $ 0.22 Diluted earnings per share from continuing operations attributable to Trio-Tech International 0.05 0.21 Diluted earnings per share from discontinued operations attributable to Trio-Tech International - - Diluted earnings per share from net income attributable to Trio-Tech International $ 0.05 $ 0.21 |
Note 20 - Stock Options
Note 20 - Stock Options | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 20. STOCK OPTIONS 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 ● A risk-free interest rate varying from 0.11% to 4.59% ( 2023: ● No expected dividend payments; and ● Expected volatility of 47.3% to 73.85% ( 2023: 2017 The Company’s 2017 December 2021, 2017 December 2021. Under the 2017 no ten may first may 2017 five three 2017 During the first 2024, 2017 three September 30, 2023. three September 30, 2023. During the first 2023, 2017 three September 30, 2022. three September 30, 2022. As of September 30, 2023, 2017 As of September 30, 2022, 2017 A summary of option activities under the 2017 three September 30, 2023, Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2023 216,375 $ 4.89 2.92 $ 140 Granted 48,000 4.88 Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2023 264,375 $ 4.88 3.05 $ 590 Exercisable at September 30, 2023 152,875 $ 4.55 2.30 $ 390 A summary of the status of the Company’s non-vested employee stock options during the three September 30, 2023, Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2023 81,750 $ 5.53 Granted 48,000 4.81 Vested (18,250 ) - Non-vested at September 30, 2023 111,500 $ 5.34 A summary of option activities under the 2017 three September 30, 2022, Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2022 236,375 $ 5.21 2.61 $ 87 Granted 25,000 5.18 - - Exercised (5,000 ) 3.75 - - Forfeited or expired (40,000 ) - - - Outstanding at September 30, 2022 216,375 $ 5.16 $ 2.74 $ 106 Exercisable at September 30, 2022 131,750 $ 4.80 $ 1.95 $ 80 A summary of the status of the Company’s non-vested employee stock options during the three September 30, 2022, Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2022 75,875 $ 5.98 Granted 25,000 5.18 Vested (16,250 ) - Non-vested at September 30, 2022 84,625 $ 5.72 2017 The 2017 September 2020, 2017 December 2020. Under the 2017 100% five During the first 2024 2023, not 2017 not three September 30, 2023 2022. As all the stock options granted under the 2017 2017 September 30, 2023, September 30, 2022. As of September 30, 2023, 2017 As of September 30, 2022, 2017 A summary of option activities under the 2017 three September 30, 2023, Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2023 420,000 $ 4.91 2.91 $ 309 Granted - - - Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2023 420,000 $ 4.91 2.66 $ 954 Exercisable at September 30, 2023 420,000 $ 4.91 2.66 $ 954 A summary of option activities under the 2017 three September 30, 2022, Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2022 420,000 $ 5.10 2.85 $ 228 Granted - - - Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2022 420,000 $ 5.10 $ 2.57 $ 278 Exercisable at September 30, 2022 420,000 $ 5.10 $ 2.57 $ 278 |
Note 21 - Leases
Note 21 - Leases | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee and Lessor, Leases [Text Block] | 21. 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 three September 30, 2023, September 30, 2022, Future minimum rental income in China and Thailand to be received from Fiscal 2024 June 30, 2027 ( 2027” September 30, 2023: Remainder of Fiscal 2024 $ 115 2025 137 2026 45 2027 15 $ 312 Future minimum rental income in China and Thailand to be received from Fiscal 2024 2027 June 30, 2023: 2024 $ 141 2025 141 2026 46 2027 16 $ 344 Sales-type leases under which the Company is the lessor arise from the lease of four three 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 Sept. 30, June 30, 2023 2023 (Unaudited) Assets Gross financial sales receivable $ 11 $ 17 Unearned finance income - (1 ) Financed sales receivable $ 11 $ 16 Current portion of finance leases $ 11 $ 16 Net of current portion of finance leases $ - $ - 11 16 As of September 30, 2023, As of June 30, 2023, Company as Lessee The Company is the lessee under operating leases for corporate offices and research and development facilities with remaining lease terms of one four Supplemental balance sheet information related to leases was as follows (in thousands): Sept. 30, June 30, 2023 2023 (Unaudited) Finance Leases (Plant and Equipment) Plant and equipment, at cost $ 1,685 $ 1,734 Accumulated depreciation (1,164 ) (1,075 ) Plant and Equipment, Net $ 521 $ 659 Current portion of finance leases $ 97 $ 107 Net of current portion of finance leases 24 42 Total Finance Lease Liabilities $ 121 $ 149 Operating Leases (Corporate Offices, Research and Development Facilities) Operating lease right-of-use assets $ 2,563 $ 2,609 Operating lease right-of-use assets, Net $ 2,563 $ 2,609 Current portion of operating leases 1,190 1,098 Net of current portion of operating leases 1,372 1,511 Total Operating Lease Liabilities $ 2,562 $ 2,609 Three Months Ended Sept. 30, Sept. 30, 2023 2022 (Unaudited) (Unaudited) Lease Cost Finance lease cost: Interest on finance lease $ 13 $ 16 Amortization of right-of-use assets 55 48 Total finance lease cost 68 64 Operating lease cost $ 362 $ 380 Other information related to leases was as follows (in thousands except lease term and discount rate): Three Months Ended Sept. 30, Sept. 30, 2023 2022 (Unaudited) (Unaudited) Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases $ (2 ) $ (3 ) Operating cash flows from operating leases (346 ) (380 ) Finance cash flows from finance leases (26 ) (36 ) Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities Weighted-Average Remaining Lease Term: Finance leases 1.61 1.79 Operating leases 2.25 2.83 Weighted-Average Discount Rate: Finance leases 2.99 % 3.23 % Operating leases 5.61 % 5.52 % As of September 30, 2023, Operating Lease Liabilities Finance Lease Liabilities Fiscal Year Remainder of Fiscal 2024 1,075 83 2025 944 33 2026 611 11 Thereafter 86 - Total future minimum lease payments 2,716 127 Less: amount representing interest (154 ) (6 ) Present value of net minimum lease payments 2,562 121 Presentation on statement of financial position Current 1,190 97 Non-Current 1,372 24 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 |
Note 22 - Fair Value of Financi
Note 22 - Fair Value of Financial Instruments Approximate Carrying Value | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 22. FAIR VALUE OF FINANCIAL INSTRUMENTS APPROXIMATE CARRYING VALUE In accordance with ASC Topics 825 820, There were no 1 2 three September 30, 2023 2022. Term deposits (Level 2 Restricted term deposits (Level 2 Lines of credit (Level 3 Bank loans payable (Level 3 |
Note 23 - Concentration of Cust
Note 23 - Concentration of Customers | 3 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 23. The Company had two major customers that accounted for the following revenue and trade account receivables: For the Period Ended Sept. 30, 2023 2022 (Unaudited) (Unaudited) Revenue - Customer A 25.2 % 30.9 % - Customer B 15.9 % 14.2 % - Customer C 14.8 % 15.6 % Trade Account Receivables - Customer A 23.6 % 28.3 % - Customer B 24.9 % 21.7 % - Customer C 18.2 % 15.0 % |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis of Presentation (Tables) | 3 Months Ended |
Sep. 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) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Term Deposits [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Short-term deposits $ 5,968 $ 6,901 Currency translation effect on short-term deposits (22 ) (274 ) Total short-term deposits 5,946 6,627 Restricted term deposits - Current 739 755 Currency translation effect on restricted term deposits (2 ) (16 ) Total restricted term deposits - Current 737 739 Restricted term deposits – Non-current 1,734 1,763 Currency translation effect on restricted term deposits (15 ) (47 ) Total restricted term deposits - Non-current 1,719 1,716 Total term deposits $ 8,402 $ 9,082 |
Note 4 - Trade Accounts Recei_2
Note 4 - Trade Accounts Receivable and Allowance for Doubtful Accounts (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Beginning $ 217 $ 243 Additions charged to expenses 10 9 Recovered (15 ) (20 ) Currency translation effect - (15 ) Ending $ 212 $ 217 |
Note 5 - Loans Receivable Fro_2
Note 5 - Loans Receivable From Property Development Projects (Tables) | 3 Months Ended |
Sep. 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 5,000 691 Less: transfer – down-payment for purchase of investment property (5,000 ) (691 ) Net loan receivables from property development projects - - |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | Sept. 30, 2023 June 30, 2023 (Unaudited) Raw materials $ 1,737 $ 1,389 Work in progress 2,506 1,132 Finished goods 470 178 Less: provision for obsolete inventories (648 ) (648 ) Currency translation effect (42 ) 100 $ 4,023 $ 2,151 |
Schedule of Inventory, Noncurrent [Table Text Block] | Sept. 30, 2023 June 30, 2023 (Unaudited) Beginning $ 648 $ 674 Additions charged to expenses 8 61 Usage – disposition (1 ) (40 ) Currency translation effect (7 ) (47 ) Ending $ 648 $ 648 |
Note 7 - Investment Properties
Note 7 - Investment Properties (Tables) | 3 Months Ended |
Sep. 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) (USD) 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 - (196 ) Gross investment in rental property 9,649 1,333 Accumulated depreciation on rental property Sep 30, 2023 (8,005 ) (1,141 ) 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 ) (144 ) (6,212 ) (875 ) Net investment in property – China 3,437 458 Investment Date / Reclassification Investment Investment Amount Date Amount (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 |
Note 8 - Other Assets (Tables)
Note 8 - Other Assets (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Other Assets [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Deposits for rental and utilities and others 163 117 Currency translation effect - (1 ) Total $ 163 $ 116 |
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 5,000 691 Interest Receivable 1,250 173 Less: Impairment of Interest (906 ) (125 ) Transferred to Down Payment (Note *b) 5,344 739 * Down Payment for Purchase of Investment Properties 10,207 1,520 Add: Effect of foreign currency exchange - 60 Less: Provision of Impairment loss on other assets (10,207 ) (1,580 ) * Down Payment for Purchase of Investment Properties $ - $ - |
Note 9 - Lines of Credit (Table
Note 9 - Lines of Credit (Tables) | 3 Months Ended |
Sep. 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% $ 3,880 $ 3,643 Universal (Far East) Pte. Ltd. Lines of Credit Cost of Funds Rate +1.25% $ 1,830 $ 2,243 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 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 |
Note 10 - Accrued Expense (Tabl
Note 10 - Accrued Expense (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Payroll and related costs $ 2,085 $ 1,880 Commissions 164 158 Legal and audit 337 280 Sales tax 61 140 Utilities 200 236 Warranty 34 24 Accrued purchase of materials and property, plant and equipment 1,758 1,214 Provision for reinstatement 373 380 Contract liabilities 2,233 1,275 Other accrued expense 299 50 Currency translation effect (37 ) (69 ) Total $ 7,507 $ 5,568 |
Note 11 - Assurance Warranty _2
Note 11 - Assurance Warranty Accrual (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Beginning $ 24 $ 16 Additions charged to cost and expense 8 32 Utilisation (1 ) (25 ) Currency translation effect 3 1 Ending $ 34 $ 24 |
Note 12 - Bank Loans Payable (T
Note 12 - Bank Loans Payable (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) 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 2.00 4.85 4.6 2,197 2,208 $ 866 $ 957 Financing arrangement at fixed interest rate 3.2 74 84 Financing arrangement at fixed interest rate 3.0 158 169 Financing arrangement at fixed interest rate 3.0 134 142 Total bank loans payable $ 1,232 $ 1,352 Current portion of bank loans payable 411 503 Currency translation effect on current portion of bank loans 12 (28 ) Current portion of bank loans payable 423 475 Long-term portion of bank loans payable 785 933 Currency translation effect on long-term portion of bank loans 24 (56 ) Long-term portion of bank loans payable $ 809 877 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Remainder of Fiscal 2024 $ 356 2025 262 2026 231 2027 212 Thereafter 171 Total obligations and commitments $ 1,232 2024 $ 475 2025 262 2026 231 2027 212 Thereafter 172 Total obligations and commitments $ 1,352 |
Note 14 - Business Segments (Ta
Note 14 - Business Segments (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three Months Operating Ended Net Income / Total Depr. And Capital Sept. 30, Revenue (Loss) Assets Amort. Expenditures Manufacturing 2023 $ 2,885 $ (42 ) $ 18,996 $ 114 $ 19 2022 $ 3,585 $ 176 $ 12,791 $ 97 $ - Testing Services 2023 5,164 (128 ) 21,312 1,326 58 2022 6,364 861 27,770 767 1,156 Distribution 2023 1,910 245 1,958 - - 2022 1,982 265 1,603 - - Real Estate 2023 7 (26 ) 2,059 19 - 2022 8 (14 ) 1,490 18 - Corporate & Unallocated 2023 - (50 ) 374 12 - 2022 - (221 ) 151 - - Total Company 2023 $ 9,966 $ (1 ) $ 44,699 $ 1,471 $ 77 2022 $ 11,939 $ 1,067 $ 43,805 $ 882 $ 1,156 |
Note 15 - Other Income (Tables)
Note 15 - Other Income (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Other Nonoperating Income, by Component [Table Text Block] | Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Interest income $ 78 $ 18 Other rental income 36 27 Exchange gain 59 70 Other miscellaneous income 23 43 Total $ 196 $ 158 |
Note 16 - Government Grants (Ta
Note 16 - Government Grants (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Government Grants [Table Text Block] | Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Government grants $ 73 $ 21 |
Note 18 - Revenue (Tables)
Note 18 - Revenue (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Sept. 30 June 30 2023 2023 (Unaudited) Trade Accounts Receivable 10,973 9,804 Accounts Payable 2,556 1,660 Contract Liabilities 2,233 1,275 |
Note 19 - Earnings Per Share (T
Note 19 - Earnings Per Share (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, 2023 2022 (Unaudited) (Unaudited) Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax $ 227 $ 882 Income attributable to Trio-Tech International common shareholders from discontinued operations, net of tax 3 - Net Income attributable to Trio-Tech International common shareholders $ 230 $ 882 Weighted average number of common shares outstanding – basic 4,096 4,077 Dilutive effect of stock options 184 81 Number of shares used to compute earnings per share – diluted 4,280 4,158 Basic earnings per share from continuing operations attributable to Trio-Tech International 0.06 0.22 Basic earnings per share from discontinued operations attributable to Trio-Tech International - - Basic earnings per share from net income attributable to Trio-Tech International $ 0.06 $ 0.22 Diluted earnings per share from continuing operations attributable to Trio-Tech International 0.05 0.21 Diluted earnings per share from discontinued operations attributable to Trio-Tech International - - Diluted earnings per share from net income attributable to Trio-Tech International $ 0.05 $ 0.21 |
Note 20 - Stock Options (Tables
Note 20 - Stock Options (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Director Plan 2017 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2023 420,000 $ 4.91 2.91 $ 309 Granted - - - Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2023 420,000 $ 4.91 2.66 $ 954 Exercisable at September 30, 2023 420,000 $ 4.91 2.66 $ 954 Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2022 420,000 $ 5.10 2.85 $ 228 Granted - - - Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2022 420,000 $ 5.10 $ 2.57 $ 278 Exercisable at September 30, 2022 420,000 $ 5.10 $ 2.57 $ 278 |
Employee Stock Option Plan 2017 [Member] | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2023 216,375 $ 4.89 2.92 $ 140 Granted 48,000 4.88 Exercised - - - - Forfeited or expired - - - - Outstanding at September 30, 2023 264,375 $ 4.88 3.05 $ 590 Exercisable at September 30, 2023 152,875 $ 4.55 2.30 $ 390 Weighted Weighted Average Remaining Aggregate Average Contractual Intrinsic Options Exercise Price Term (Years) Value Outstanding at July 1, 2022 236,375 $ 5.21 2.61 $ 87 Granted 25,000 5.18 - - Exercised (5,000 ) 3.75 - - Forfeited or expired (40,000 ) - - - Outstanding at September 30, 2022 216,375 $ 5.16 $ 2.74 $ 106 Exercisable at September 30, 2022 131,750 $ 4.80 $ 1.95 $ 80 |
Employee Stock Ownership Plan (ESOP) Disclosures [Table Text Block] | Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2023 81,750 $ 5.53 Granted 48,000 4.81 Vested (18,250 ) - Non-vested at September 30, 2023 111,500 $ 5.34 Weighted Average Options Grant-Date Fair Value Non-vested at July 1, 2022 75,875 $ 5.98 Granted 25,000 5.18 Vested (16,250 ) - Non-vested at September 30, 2022 84,625 $ 5.72 |
Note 21 - Leases (Tables)
Note 21 - Leases (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Operating Lease, Lease Income [Table Text Block] | Remainder of Fiscal 2024 $ 115 2025 137 2026 45 2027 15 $ 312 2024 $ 141 2025 141 2026 46 2027 16 $ 344 |
Sales-type and Direct Financing Leases, Lease Receivable [Table Text Block] | Components of Lease Balances Sept. 30, June 30, 2023 2023 (Unaudited) Assets Gross financial sales receivable $ 11 $ 17 Unearned finance income - (1 ) Financed sales receivable $ 11 $ 16 Current portion of finance leases $ 11 $ 16 Net of current portion of finance leases $ - $ - 11 16 |
Operating and Finance Leases of Lessee Disclosure [Table Text Block] | Sept. 30, June 30, 2023 2023 (Unaudited) Finance Leases (Plant and Equipment) Plant and equipment, at cost $ 1,685 $ 1,734 Accumulated depreciation (1,164 ) (1,075 ) Plant and Equipment, Net $ 521 $ 659 Current portion of finance leases $ 97 $ 107 Net of current portion of finance leases 24 42 Total Finance Lease Liabilities $ 121 $ 149 Operating Leases (Corporate Offices, Research and Development Facilities) Operating lease right-of-use assets $ 2,563 $ 2,609 Operating lease right-of-use assets, Net $ 2,563 $ 2,609 Current portion of operating leases 1,190 1,098 Net of current portion of operating leases 1,372 1,511 Total Operating Lease Liabilities $ 2,562 $ 2,609 Three Months Ended Sept. 30, Sept. 30, 2023 2022 (Unaudited) (Unaudited) Lease Cost Finance lease cost: Interest on finance lease $ 13 $ 16 Amortization of right-of-use assets 55 48 Total finance lease cost 68 64 Operating lease cost $ 362 $ 380 |
Operating and Finance Leases Of Lessee Other Disclosure [Table Text Block] | Three Months Ended Sept. 30, Sept. 30, 2023 2022 (Unaudited) (Unaudited) Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from finance leases $ (2 ) $ (3 ) Operating cash flows from operating leases (346 ) (380 ) Finance cash flows from finance leases (26 ) (36 ) Right-of-Use Assets Obtained in Exchange for New Operating Lease Liabilities Weighted-Average Remaining Lease Term: Finance leases 1.61 1.79 Operating leases 2.25 2.83 Weighted-Average Discount Rate: Finance leases 2.99 % 3.23 % Operating leases 5.61 % 5.52 % |
Schedule Of Future Minimum Rental Payments for Operating and Finance Leases [Table Text Block] | Operating Lease Liabilities Finance Lease Liabilities Fiscal Year Remainder of Fiscal 2024 1,075 83 2025 944 33 2026 611 11 Thereafter 86 - Total future minimum lease payments 2,716 127 Less: amount representing interest (154 ) (6 ) Present value of net minimum lease payments 2,562 121 Presentation on statement of financial position Current 1,190 97 Non-Current 1,372 24 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 |
Note 23 - Concentration of Cu_2
Note 23 - Concentration of Customers (Tables) | 3 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | For the Period Ended Sept. 30, 2023 2022 (Unaudited) (Unaudited) Revenue - Customer A 25.2 % 30.9 % - Customer B 15.9 % 14.2 % - Customer C 14.8 % 15.6 % Trade Account Receivables - Customer A 23.6 % 28.3 % - Customer B 24.9 % 21.7 % - Customer C 18.2 % 15.0 % |
Note 1 - Organization and Bas_3
Note 1 - Organization and Basis of Presentation (Details Textual) | Sep. 30, 2023 |
Trio-Tech (Tianjin) Co., Ltd, [Member] | |
Subsidiary, Ownership Percentage, Parent | 100% |
Note 1 - Organization and Bas_4
Note 1 - Organization and Basis of Presentation - Ownership (Details) | Sep. 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 | Sep. 30, 2023 USD ($) |
Deposits Assets, Restricted, Current, Net | $ 737 |
Deposits Assets, Restricted Term Deposits, Noncurrent, Net | $ 1,719 |
Note 3 - Term Deposits - Term D
Note 3 - Term Deposits - Term Deposits (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Sep. 30, 2022 |
Short-term deposits | $ 5,968 | $ 6,901 | |
Currency translation effect on short-term deposits | (22) | (274) | |
Total short-term deposits | 5,946 | 6,627 | |
Restricted term deposits - Current | 739 | 755 | |
Currency translation effect on restricted term deposits | (2) | (16) | |
Total restricted term deposits - Current | 737 | 739 | $ 698 |
Restricted term deposits – Non-current | 1,734 | 1,763 | |
Currency translation effect on restricted term deposits | (15) | (47) | |
Total restricted term deposits - Non-current | 1,719 | 1,716 | $ 934 |
Total term deposits | $ 8,402 | $ 9,082 |
Note 4 - Trade Accounts Recei_3
Note 4 - Trade Accounts Receivable and Allowance for Doubtful Accounts - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
Beginning | $ 217 | $ 243 |
Additions charged to expenses | 10 | 9 |
Recovered | (15) | (20) |
Currency translation effect | 0 | (15) |
Ending | $ 212 | $ 217 |
Note 5 - Loans Receivable Fro_3
Note 5 - Loans Receivable From Property Development Projects (Details Textual) - Sep. 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 | $ 691 | ¥ 5 |
Note 5 - Loans Receivable Fro_4
Note 5 - Loans Receivable From Property Development Projects - Loans Receivable (Details) - Sep. 30, 2023 ¥ in Thousands, $ in Thousands | USD ($) | CNY (¥) |
Financing Receivable, before Allowance for Credit Loss, Current | $ 276 | ¥ 2,000 |
Net loan receivables from property development projects | (276) | (2,000) |
Net loan receivables from property development projects | 0 | 0 |
Financing Receivable, before Allowance for Credit Loss, Noncurrent | 691 | 5,000 |
Less: transfer – down-payment for purchase of investment property | (691) | (5,000) |
Net loan receivables from property development projects | $ 0 | ¥ 0 |
Note 6 - Inventories - Inventor
Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Jun. 30, 2022 |
Raw materials | $ 1,737 | $ 1,389 | |
Work in progress | 2,506 | 1,132 | |
Finished goods | 470 | 178 | |
Less: provision for obsolete inventories | (648) | (648) | $ (674) |
Currency translation effect | (42) | 100 | |
Inventory, Net | $ 4,023 | $ 2,151 |
Note 6 - Inventories - Changes
Note 6 - Inventories - Changes in Provision for Obsolete Inventories (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
Beginning | $ 648 | $ 674 |
Additions charged to expenses | 8 | 61 |
Usage – disposition | (1) | (40) |
Currency translation effect | (7) | (47) |
Ending | $ 648 | $ 648 |
Note 7 - Investment Propertie_2
Note 7 - Investment Properties (Details Textual) ¥ in Thousands, $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Feb. 01, 2023 USD ($) | Feb. 01, 2023 CNY (¥) | Aug. 31, 2022 USD ($) | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2010 USD ($) | Jun. 30, 2010 CNY (¥) | Sep. 30, 2023 CNY (¥) | Jun. 30, 2023 USD ($) | Jun. 30, 2023 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 | ¥ 5,554 | $ 894 | ¥ 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 | 6 | $ 6 | ||||||||||||
Depreciation | 4 | 4 | ||||||||||||
Jiang Huai [Member] | ||||||||||||||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Initial Cost of Land | 580 | 3,600 | 580 | 3,600 | ||||||||||
Operating Lease, Lease Income | 0 | 0 | ||||||||||||
Depreciation | 6 | 7 | ||||||||||||
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 | ¥ 4,025 | $ 648 | ¥ 4,025 | ||||||||||
Monthly Lease Revenue Amount | $ 1 | |||||||||||||
Operating Lease, Lease Income | 2 | |||||||||||||
Depreciation | 7 | 7 | ||||||||||||
CHINA | ||||||||||||||
Operating Lease, Lease Income | 7 | 8 | ||||||||||||
Depreciation | $ 17 | $ 18 |
Note 7 - Investment Propertie_3
Note 7 - Investment Properties - Investment Properties (Details) ¥ in Thousands, $ in Thousands | Sep. 30, 2023 USD ($) | Sep. 30, 2023 CNY (¥) | Jun. 30, 2023 USD ($) | Jun. 30, 2023 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 | 196 | 0 | 199 | 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 | (196) | 0 | (199) | 0 | ||
Gross investment in rental property | 1,333 | 9,649 | 1,330 | 9,649 | ||
Accumulated depreciation on rental property | (1,141) | (8,005) | (1,123) | (7,884) | ||
Reclassification From Assets | (875) | (6,212) | (856) | (6,091) | ||
Net investment in property – China | 458 | 3,437 | 474 | 3,558 | ||
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” | (144) | (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 8 - Other Assets (Details
Note 8 - Other Assets (Details Textual) ¥ in Thousands, $ in Thousands | 3 Months Ended | |||||||||
Dec. 02, 2010 CNY (¥) | Jun. 30, 2021 USD ($) | Sep. 30, 2023 USD ($) | Sep. 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 (¥) | |
Payments to Acquire Investments | ¥ 10,000,000 | |||||||||
Percentage of Investment | 10% | 10% | 10% | 10% | ||||||
Management Fee Paid | ¥ 5,000,000 | |||||||||
Management Fee Payable | $ 803 | ¥ 5,000 | ||||||||
Loss On Joint Venture | (22) | (137) | $ 22 | ¥ 137 | ||||||
Investments | 803 | 5,000 | $ 803 | ¥ 5,000,000 | ||||||
Loans and Leases Receivable, Related Parties | 691 | 5,000 | $ 691 | ¥ 5,000 | ||||||
Interest Receivable | 173 | 1,250 | 173 | 1,250 | ||||||
Impairment of Interest | $ 125 | ¥ 906 | $ 125 | ¥ 906 | ||||||
Asset Impairment Charges, Total | $ | $ 1,580 |
Note 8 - Other Assets - Other A
Note 8 - Other Assets - Other Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Deposits for rental and utilities and others | $ 163 | $ 117 |
Currency translation effect | 0 | (1) |
Total | $ 163 | $ 116 |
Note 8 - Other Assets - Down Pa
Note 8 - Other Assets - Down Payment for Purchase of Investment Properties (Details) ¥ in Thousands, $ in Thousands | Sep. 30, 2023 USD ($) | Sep. 30, 2023 CNY (¥) | Jun. 30, 2022 USD ($) | 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) | $ 1,606 | ¥ 10,000 | ||||||||
Less: Management Fee | (803) | (5,000) | ||||||||
Net Investment | 803 | 5,000 | $ 803 | ¥ 5,000,000 | ||||||
Less: Share of Loss on Joint Venture | (22) | (137) | $ 22 | ¥ 137 | ||||||
Net Investment as Down Payment (Note *a) | [1] | 781 | 4,863 | [2] | ||||||
Loans Receivable | 691 | 5,000 | $ 691 | ¥ 5,000 | ||||||
Interest Receivable | 173 | 1,250 | 173 | 1,250 | ||||||
Less: Impairment of Interest | (125) | (906) | $ (125) | ¥ (906) | ||||||
Transferred to Down Payment (Note *b) | [3] | 739 | 5,344 | |||||||
* Down Payment for Purchase of Investment Properties | 1,520 | 10,207 | ||||||||
Add: Effect of foreign currency exchange | 60 | 0 | ||||||||
Less: Provision of Impairment loss on other assets | $ (1,580) | ¥ (10,207) | ||||||||
[1]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 million for the 10% investment in the Joint Venture. The Developer paid the Company a management fee of RMB 5 million in cash upon signing of the Agreement, with a remaining fee of RMB 5 million payable upon fulfilment of certain conditions in accordance with the Agreement. The Company further reduced its investment by RMB 137k, or approximately $22k, through the losses from operations incurred by the Joint Venture. In Fiscal 2014, the Company disposed of its entire 10% interest in the Joint Venture but, to date, has not received payment in full therefor. The Company recognized a disposal based on the recorded net book value of RMB 5 million, or equivalent to $803K, from net considerations paid, in accordance with GAAP under ASC Topic 845 Non-monetary Consideration. It is presented under “Other Assets” as noncurrent assets to defer the recognition of the gain on the disposal of the 10% interest in the Joint Venture investment until such time that the consideration is paid, so the gain can be ascertained.[2]Down Payment for Purchase of Investment Properties[3]Amounts of RMB 5,000, or approximately $691, as disclosed in Note 8, plus the interest receivable on long-term loan receivable of RMB 1,250, or approximately $173, and impairment on interest of RMB 906, or approximately $125. The shop lots are to be delivered to TTCQ upon completion of the construction of the shop lots in Singapore Themed Resort Project. The initial targeted date of completion was in the fiscal year ended June 30, 2017. However, the progress has been delayed as the developer is currently undergoing asset reorganization process, to re-negotiate with their creditors to complete the project. |
Note 9 - Lines Of Credit- Line
Note 9 - Lines Of Credit- Line of Credit (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
Trio Tech International Pte Ltd [Member] | ||
Interest Rate | 1.25% | |
Credit Limitation | $ 3,880 | $ 3,907 |
Unused credit | $ 3,643 | $ 3,701 |
Trio Tech International Pte Ltd [Member] | Minimum [Member] | ||
Interest Rate | 1.25% | |
Trio Tech International Pte Ltd [Member] | Maximum [Member] | ||
Interest Rate | 1.30% | |
Universal (Far East) Pte. Ltd. [Member] | ||
Interest Rate | 1.25% | |
Credit Limitation | $ 1,830 | $ 1,843 |
Unused credit | 2,243 | $ 1,559 |
Universal (Far East) Pte. Ltd. [Member] | Minimum [Member] | ||
Interest Rate | 1.25% | |
Universal (Far East) Pte. Ltd. [Member] | Maximum [Member] | ||
Interest Rate | 1.30% | |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | ||
Credit Limitation | 319 | $ 319 |
Unused credit | $ 319 | $ 319 |
Trio-Tech (Malaysia) Sdn. Bhd.[Member] | Cost of Funds Rate [Member] | ||
Interest Rate | 2% | 2% |
Note 10 - Accrued Expense - Acc
Note 10 - Accrued Expense - Accrued Expenses (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Payroll and related costs | $ 2,085 | $ 1,880 |
Commissions | 164 | 158 |
Legal and audit | 337 | 280 |
Sales tax | 61 | 140 |
Utilities | 200 | 236 |
Warranty | 34 | 24 |
Accrued purchase of materials and property, plant and equipment | 1,758 | 1,214 |
Provision for reinstatement | 373 | 380 |
Contract liabilities | 2,233 | 1,275 |
Other accrued expense | 299 | 50 |
Currency translation effect | (37) | (69) |
Total | $ 7,507 | $ 5,568 |
Note 11 - Assurance Warranty _3
Note 11 - Assurance Warranty Accrual - Warrant Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
Beginning | $ 24 | $ 16 |
Additions charged to cost and expense | 8 | 32 |
Utilisation | (1) | (25) |
Currency translation effect | (3) | (1) |
Ending | $ 34 | $ 24 |
Note 12 - Bank Loans Payable -
Note 12 - Bank Loans Payable - Bank Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Bank loan payable | $ 1,232 | $ 1,352 |
Current portion of bank loans payable | 411 | 503 |
Currency translation effect on current portion of bank loans | 12 | (28) |
Current portion of bank loans payable | 423 | 475 |
Long-term portion of bank loans payable | 785 | 933 |
Currency translation effect on long-term portion of bank loans | 24 | (56) |
Long-term portion of bank loans payable | 809 | 877 |
Notes Payable To Banks 1 [Member] | ||
Bank loan payable | 866 | 957 |
Notes Payable To Banks 2 [Member] | ||
Bank loan payable | 74 | 84 |
Notes Payable to Bank 3 [Member] | ||
Bank loan payable | 158 | 169 |
Notes Payable to Bank 4 [Member] | ||
Bank loan payable | $ 134 | $ 142 |
Note 12 - Bank Loans Payable _2
Note 12 - Bank Loans Payable - Bank Loans (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Jun. 30, 2023 | |
Notes Payable To Banks 1 [Member] | ||
Carrying value | $ 2,197 | $ 2,208 |
Effective rate | 4.85% | 4.60% |
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 12 - Bank Loans Payable _3
Note 12 - Bank Loans Payable - Future Minimum Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2022 |
Remainder of Fiscal 2024 | $ 356 | |
2025 | 262 | $ 475 |
2026 | 231 | 262 |
2027 | 212 | 231 |
Thereafter | 171 | |
Total obligations and commitments | $ 1,232 | 1,352 |
2027 | 212 | |
Thereafter | $ 172 |
Note 14 - Business Segments (De
Note 14 - Business Segments (Details Textual) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | |
Number of Operating Segments | 4 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 9,966 | $ 11,939 |
Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 4 |
Note 14 - Business Segments - B
Note 14 - Business Segments - Business Segment Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | |
Revenues | $ 9,966 | $ 11,939 | |||
Operating Income / (loss) | (1) | 1,067 | |||
Assets | 44,699 | 43,805 | $ 44,699 | $ 43,805 | $ 42,186 |
Depreciation and amortization | 1,471 | 882 | |||
Capital expenditures | 77 | 1,156 | 77 | 1,156 | |
Corporate, Non-Segment [Member] | |||||
Revenues | 0 | 0 | |||
Operating Income / (loss) | (50) | (221) | |||
Assets | 374 | 151 | 374 | 151 | |
Depreciation and amortization | 12 | 0 | |||
Capital expenditures | 0 | 0 | |||
Manufacturing [Member] | |||||
Revenues | 2,885 | 3,585 | |||
Manufacturing [Member] | Operating Segments [Member] | |||||
Revenues | 2,885 | 3,585 | |||
Operating Income / (loss) | (42) | 176 | |||
Assets | 18,996 | 12,791 | 18,996 | 12,791 | |
Depreciation and amortization | 114 | 97 | |||
Capital expenditures | 19 | 0 | |||
Testing Services [Member] | |||||
Revenues | 5,164 | 6,364 | |||
Testing Services [Member] | Operating Segments [Member] | |||||
Revenues | 5,164 | 6,364 | |||
Operating Income / (loss) | (128) | 861 | |||
Assets | 21,312 | 27,770 | 21,312 | 27,770 | |
Depreciation and amortization | 1,326 | 767 | |||
Capital expenditures | 58 | 1,156 | |||
Distribution [Member] | |||||
Revenues | 1,910 | 1,982 | |||
Distribution [Member] | Operating Segments [Member] | |||||
Revenues | 1,910 | 1,982 | |||
Operating Income / (loss) | 245 | 265 | |||
Assets | 1,958 | 1,603 | 1,958 | 1,603 | |
Depreciation and amortization | 0 | 0 | |||
Capital expenditures | 0 | 0 | |||
Real Estate Segment [Member] | |||||
Revenues | 7 | 8 | |||
Real Estate Segment [Member] | Operating Segments [Member] | |||||
Revenues | 7 | 8 | |||
Operating Income / (loss) | (26) | (14) | |||
Assets | 2,059 | 1,490 | $ 2,059 | $ 1,490 | |
Depreciation and amortization | 19 | 18 | |||
Capital expenditures | $ 0 | $ 0 |
Note 15 - Other Income - Other
Note 15 - Other Income - Other Income (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Interest income | $ 78 | $ 18 |
Other rental income | 36 | 27 |
Exchange gain | 59 | 70 |
Other miscellaneous income | 23 | 43 |
Total | $ 196 | $ 158 |
Note 16 - Government Grants (De
Note 16 - Government Grants (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Government Assistance, Amount | $ 73 | $ 21 |
Financial Assistance Received From the Singapore Government [Member] | ||
Government Assistance, Amount | 16 | |
Employee Retention Credit [Member] | ||
Government Assistance, Amount | $ 57 |
Note 16 - Government Grants - G
Note 16 - Government Grants - Grants Received (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Government Grant | $ 73 | $ 21 |
Note 17 - Income Taxes (Details
Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Effective Income Tax Rate Reconciliation, GILTI, Amount | $ 43 | |
Income Tax Expense (Benefit) | $ 37 | $ 225 |
Effective Income Tax Rate Reconciliation, Percent | 15% | 19% |
Unrecognized Tax Benefits, Ending Balance | $ 0 |
Note 18 - Revenue 1 (Details Te
Note 18 - Revenue 1 (Details Textual) | Jun. 30, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 55 |
Note 18 - Revenue 2 (Details Te
Note 18 - Revenue 2 (Details Textual) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 |
Revenue, Remaining Performance Obligation, Amount | $ 55 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Revenue, Remaining Performance Obligation, Amount | $ 0 |
Note 18 - Revenue - Contract Ba
Note 18 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Trade Accounts Receivable | $ 10,973 | $ 9,804 |
Accounts Payable | 2,556 | 1,660 |
Contract Liabilities | $ 2,233 | $ 1,275 |
Note 19 - Earnings Per Share (D
Note 19 - Earnings Per Share (Details Textual) - $ / shares | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding (in shares) | 684,375 | 636,375 |
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) | 111,500 | 84,625 |
Note 19 - Earnings Per Share -
Note 19 - Earnings Per Share - Computation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Income attributable to Trio-Tech International common shareholders from continuing operations, net of tax | $ 227 | $ 882 |
Income attributable to Trio-Tech International common shareholders from discontinued operations, net of tax | 3 | 0 |
Net Income attributable to Trio-Tech International common shareholders | $ 230 | $ 882 |
Weighted average number of common shares outstanding – basic (in shares) | 4,096 | 4,077 |
Dilutive effect of stock options (in shares) | 184 | 81 |
Number of shares used to compute earnings per share – diluted (in shares) | 4,280 | 4,158 |
Basic earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | $ 0.06 | $ 0.22 |
Basic earnings per share from discontinued operations attributable to Trio-Tech International (in dollars per share) | 0 | 0 |
Basic earnings per share from net income attributable to Trio-Tech International (in dollars per share) | 0.06 | 0.22 |
Diluted earnings per share from continuing operations attributable to Trio-Tech International (in dollars per share) | 0.05 | 0.21 |
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) | $ 0.05 | $ 0.21 |
Note 20 - Stock Options (Detail
Note 20 - Stock Options (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2021 | Sep. 30, 2020 | Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Sep. 24, 2017 | |
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) | 48,000 | 25,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 5,000 | |||||
Share-Based Payment Arrangement, Expense | $ 60 | $ 32 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number (in shares) | 152,875 | 131,750 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.55 | $ 4.8 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year) | 2 years 3 months 21 days | 1 year 11 months 12 days | |||||
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% | ||||||
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) | 0 | 0 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | 0 | ||||
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) | 420,000 | 420,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 4.91 | $ 5.1 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year) | 2 years 7 months 28 days | 2 years 6 months 25 days | |||||
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% | 47.30% | |||||
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 | 4.59% | 4.17% | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 73.85% | 73.85% |
Note 20 - Stock Options - Summa
Note 20 - Stock Options - Summary of Options Activities (Details) - Employee Stock Option Plan 2017 [Member] - USD ($) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Outstanding. options (in shares) | 216,375 | 236,375 | 236,375 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.89 | $ 5.21 | $ 5.21 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 18 days | 2 years 8 months 26 days | 2 years 11 months 1 day | 2 years 7 months 9 days |
Aggregate intrinsic value outstanding | $ 590 | $ 106 | $ 140 | $ 87 |
Granted, options (in shares) | 48,000 | 25,000 | ||
Granted, weighted average exercise price (in dollars per share) | $ 4.88 | $ 5.18 | ||
Exercised, options (in shares) | 0 | (5,000) | ||
Exercised, weighted average exercise price (in dollars per share) | $ 0 | $ 3.75 | ||
Forfeited or expired, options (in shares) | 0 | (40,000) | ||
Outstanding, options (in shares) | 264,375 | 216,375 | 216,375 | 236,375 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.88 | $ 5.16 | $ 4.89 | $ 5.21 |
Exercisable, options (in shares) | 152,875 | 131,750 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 4.55 | $ 4.8 | ||
Exercisable, weighted average remaining contractual term (Year) | 2 years 3 months 18 days | 1 year 11 months 12 days | ||
Exercisable, aggregate intrinsic value | $ 390 | $ 80 | ||
Exercised, options (in shares) | 0 | (5,000) |
Note 20 - Stock Options - Sum_2
Note 20 - Stock Options - Summary of Nonvested Employee Stock (Details) - Employee Stock Option Plan 2017 [Member] - $ / shares | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
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 |
Granted (in shares) | 48,000 | 25,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 4.81 | $ 5.18 |
Vested (in shares) | (18,250) | (16,250) |
Non-vested options outstanding (in shares) | 111,500 | 84,625 |
Non-vested, weighted average grant date fair value (in dollars per share) | $ 5.34 | $ 5.72 |
Note 20 - Stock Options - Sum_3
Note 20 - Stock Options - Summary of Options Activities 2017 Directors Plan (Details) - Director Plan 2017 [Member] - USD ($) | 3 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Outstanding. options (in shares) | 420,000 | 420,000 | 420,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.91 | $ 5.1 | $ 5.1 | |
Outstanding, weighted average remaining contractual term (Year) | 2 years 7 months 28 days | 2 years 6 months 25 days | 2 years 10 months 28 days | 2 years 10 months 6 days |
Aggregate intrinsic value outstanding | $ 954 | $ 278 | $ 309 | $ 228 |
Granted, options (in shares) | 0 | 0 | ||
Granted, weighted average exercise price (in dollars per share) | $ 0 | $ 0 | ||
Exercise of stock option (in shares) | 0 | 0 | 0 | |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |||
Forfeited or expired, options (in shares) | 0 | |||
Forfeited or expired, weighted average exercise price (in dollars per share) | $ 0 | |||
Outstanding, options (in shares) | 420,000 | 420,000 | 420,000 | 420,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 4.91 | $ 5.1 | $ 4.91 | $ 5.1 |
Exercisable, options (in shares) | 420,000 | 420,000 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 4.91 | $ 5.1 | ||
Exercisable, weighted average remaining contractual term (Year) | 2 years 7 months 28 days | 2 years 6 months 25 days | ||
Exercisable, aggregate intrinsic value | $ 954 | $ 278 |
Note 21 - Leases (Details Textu
Note 21 - Leases (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2023 | |
Lessor Asset under Operating Lease, Term (Year) | 20 years | ||
Depreciation, Lessor Asset under Operating Lease | $ 17 | $ 18 | |
Lessor, Sales-type Leased Assets, Number of Units | 4 | ||
Lessor, Sales-type Lease, Term of Contract (Year) | 3 years | ||
Lessor, Sales-type Lease, Weighted Average Effective Interest Rate | 11.20% | 11.16% | |
Lessor, Sales-type Lease, Weighted Average Remaining Lease Term (Year) | 6 months | 9 months | |
Minimum [Member] | |||
Lessor, Operating Lease, Term of Contract (Month) | 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 | ||
Lessee, Operating Lease, Remaining Lease Term (Year) | 4 years |
Note 21 - Leases - Future Minim
Note 21 - Leases - Future Minimum Rental Income (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Payments to be received,Remainder of Fiscal 2024 | $ 115 | |
Payments to be received, 2025 | 137 | |
Payments to be received, 2026 | 45 | $ 141 |
Payments to be received, 2027 | 15 | 141 |
Payments to be received, total | $ 312 | 344 |
Payments to be received, year four | 46 | |
Payments to be received, year five | $ 16 |
Note 21 - Leases - Components o
Note 21 - Leases - Components of Financed Sales Receivable (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Gross financial sales receivable | $ 11 | $ 17 |
Unearned finance income | 0 | (1) |
Financed sales receivable | 11 | 16 |
Financed sales receivable | 11 | 16 |
Net Investment in Lease, after Allowance for Credit Loss, Noncurrent | $ 11 | $ 16 |
Note 21 - Leases - Supplement B
Note 21 - Leases - Supplement Balance Sheet Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2023 | |
Plant and equipment, at cost | $ 1,734 | ||
Accumulated depreciation | (1,075) | ||
Plant and Equipment, Net | 659 | ||
Current portion of finance leases | $ 97 | 107 | |
Net of current portion of finance leases | 24 | 42 | |
Total Finance Lease Liabilities | 121 | 149 | |
Operating lease right-of-use assets | 2,563 | 2,609 | |
Current portion of operating leases | 1,190 | 1,098 | |
Net of current portion of operating leases | 1,372 | 1,511 | |
Total Operating Lease Liabilities | 2,562 | $ 2,609 | |
Lease Cost | |||
Interest on finance lease | $ 16 | ||
Amortization of right-of-use assets | $ 55 | 48 | |
Total finance lease cost | 64 | ||
Operating lease cost | $ 380 |
Note 21 - Leases - Other Inform
Note 21 - Leases - Other Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating cash flows from finance leases | $ (2) | $ (3) | ||
Operating cash flows from operating leases | (346) | (380) | ||
Payment of finance leases | $ (26) | $ (36) | $ (26) | $ (36) |
Finance leases (Year) | 1 year 7 months 9 days | 1 year 9 months 14 days | 1 year 7 months 9 days | 1 year 9 months 14 days |
Operating leases (Year) | 2 years 3 months | 2 years 9 months 29 days | 2 years 3 months | 2 years 9 months 29 days |
Finance leases | 2.99% | 3.23% | 2.99% | 3.23% |
Operating leases | 5.61% | 5.52% | 5.61% | 5.52% |
Note 21 - Leases - Future Min_2
Note 21 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 |
Remainder of Fiscal 2024, operating lease | $ 1,075 | |
Remainder of Fiscal 2024, finance lease | 83 | |
2025, operating lease | 944 | $ 1,321 |
2025, finance lease | 33 | 112 |
2026, operating lease | 611 | 846 |
2026, finance lease | 11 | 33 |
Thereafter, operating lease | 86 | |
Thereafter, finance lease | 0 | |
Total future minimum lease payments, operating lease | 2,716 | 2,801 |
Total future minimum lease payments | 127 | 157 |
Less: amount representing interest, operating lease | (154) | (192) |
Less: amount representing interest | (6) | (8) |
Present value of net minimum lease payments, operating lease | 2,562 | 2,609 |
Present value of net minimum lease payments | 121 | 149 |
Current, operating lease | 1,190 | 1,098 |
Current | 97 | 107 |
Non-current, operating lease | 1,372 | 1,511 |
Non-Current | $ 24 | 42 |
Year three, operating leases | 570 | |
Year three, finance leases | 12 | |
After year three, operating leases | 64 | |
After year three, finance leases | $ 0 |
Note 23 - Concentration of Cu_3
Note 23 - Concentration of Customers (Details Textual) | Sep. 30, 2023 |
Number of Major Customers | 2 |
Note 23 - Concentration of Cu_4
Note 23 - Concentration of Customers - Revenue and Trade Accounts Receivables (Details) - Customer Concentration Risk [Member] | 3 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue Benchmark [Member] | Customer A [Member] | ||
Concentration risk | 25.20% | 30.90% |
Revenue Benchmark [Member] | Customer B [Member] | ||
Concentration risk | 15.90% | 14.20% |
Revenue Benchmark [Member] | Customer C [Member] | ||
Concentration risk | 14.80% | 15.60% |
Accounts Receivable [Member] | Customer A [Member] | ||
Concentration risk | 23.60% | 28.30% |
Accounts Receivable [Member] | Customer B [Member] | ||
Concentration risk | 24.90% | 21.70% |
Accounts Receivable [Member] | Customer C [Member] | ||
Concentration risk | 18.20% | 15% |