An investor discusses semiconductor company TRT's Q4 earnings decline from $16.5M to $14.9M, attributing it to revenue timing rather than weakening demand. With $24.2M total backlog including $19.8M in semiconductor orders and $7.9M in pending AI GPU board deliveries, the analyst sees potential upside if margins improve and the Penang facility expansion ramps production in FY27.
TRT reported FY26 semiconductor revenue of $62.6M (+72% YoY) with back-end revenue up 99%, improving gross margins to 19%. The company enters FY27 with $24.2M backlog, $7.9M in pending AI GPU orders, and new contracts in EV semiconductors and data center cooling solutions, positioning for accelerated growth.