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Deswell Industries Inc (DSWL) is a leading company in the electrical and electronic manufacturing sector with a presence in Macau, Special Administrative Region of China. The company specializes in the production and sales of injection-molded plastic parts and components. Additionally, Deswell provides comprehensive manufacturing services for electronic products and subassemblies, and also produces metallic molds and accessory parts for Original Equipment Manufacturers (OEMs) and Contract Manufacturers (CMs).
Deswell Industries operates through two primary segments: Plastic Injection Molding and Electronic Products Assembling. The Plastic Injection Molding segment focuses on creating high-quality plastic parts used in various industries, such as automotive, medical, and consumer electronics. The Electronic Products Assembling segment deals with the assembly and manufacturing of complex electronic devices.
The company's manufacturing facilities are located in the People’s Republic of China, encompassing distinct operations for plastics, electronics, and metallic manufacturing. Deswell’s wide range of products includes automobile components, medical testing equipment, parts for audio equipment, AV receivers, active subwoofers, digital system key sets, communication products, and more.
Deswell Industries Inc is recognized for its commitment to quality and innovation, achieving recent accolades and securing significant partnerships. The company continues to invest in cutting-edge technology and process improvements to enhance its manufacturing capabilities and meet the evolving demands of its global customer base. Financially, Deswell maintains a stable condition, evidenced by its consistent performance and strategic growth initiatives.
Stay updated with the latest news and developments from Deswell Industries Inc to understand the company's market performance and strategic initiatives better.
Deswell Industries, Inc. (Nasdaq: DSWL) has announced the filing of its Annual Report on Form 20-F with the United States Securities and Exchange Commission (SEC) for the fiscal year ended March 31, 2024. The report, which includes audited financial statements, is now available on the SEC's website at http://www.sec.gov.
Shareholders can request a free paper copy of the fiscal 2024 Annual Report by contacting Deswell Industries at their Macau address. This announcement ensures compliance with regulatory requirements and provides investors with access to important financial information about the company's performance over the past fiscal year.
Deswell Industries (Nasdaq: DSWL) announced its unaudited financial results for the second half of fiscal year 2024, ending March 31. The company's net sales were $31.6 million, reflecting a 4.4% decrease compared to the same period last year. Sales in the plastic segment dropped by 18.4%, while the electronics segment saw a marginal decline. However, the overall gross margin improved to 20.7%, driven by cost savings from the depreciation of the renminbi and effective cost control measures.
Operating income increased to $1.5 million, and net income rose significantly to $4.2 million, aided by substantial non-operating income. For the full fiscal year, net sales were down by 10.5% to $69.4 million, but net income surged to $7.7 million. The company reported a strong financial position with $15.8 million in cash and no debt. Deswell declared a $0.10 per share dividend, payable on July 19, 2024, to shareholders of record as of July 5, 2024.
Deswell Industries, Inc. (Nasdaq: DSWL) reported unaudited financial results for the first six months of fiscal 2023, ended September 30, 2023. Net sales decreased by 15.1% to $37.7 million, with a 24.6% decrease in the plastic segment and a 12.9% decrease in the electronic segment. Gross margin increased to 19.5% of net sales, with a significant increase in the plastic segment to 19.6% and the electronic segment to 19.5%. Operating income rose to $2.3 million, and net income was $3.6 million, compared to a net loss of $0.6 million in the same period last year. The Company's financial position remained strong, with $17.4 million in cash and cash equivalents and no long-term or short-term borrowings. The board of directors declared a cash dividend of $0.10 per share for the first half of fiscal year 2023, payable on December 21, 2023.
Deswell Industries reported a 11.7% increase in net sales to $44.4 million for the first half of fiscal 2023, driven by a 20.9% rise in the electronic segment. However, the plastic segment saw a 15.9% decline in sales. The total gross margin slightly decreased to 16.0%, with a notable decline in the electronic segment's margin due to rising semiconductor costs. The company posted a net loss of $0.6 million, largely due to a $2.3 million non-operating expense. Despite financial challenges, a cash dividend of $0.10 per share was declared, reflecting the company's solid cash position of $15.6 million.
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