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Deswell Industries Inc. reports developments from its manufacturing business in injection-molded plastic parts, electronic products and subassemblies, and metallic molds for OEMs and contract manufacturers. News commonly covers semiannual operating results for its plastic injection molding and electronic products assembling segments, gross-margin commentary, customer demand, cost controls, and cash dividend declarations.
Company updates also include Form 20-F availability, board and finance leadership changes, and product categories such as printed circuit board assemblies using surface mount technology, professional and home audio products, telephones, and Internet-of-Things products made at factories in the People's Republic of China.
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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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Deswell Industries (NASDAQ: DSWL) has filed its Annual Report on Form 20-F with the SEC, detailing audited financial statements for the fiscal year ended March 31, 2022. The report is available on the SEC's website.
Shareholders can request a paper copy of the report at no charge. Deswell focuses on manufacturing injection-molded plastic parts, electronic products, and more for OEMs and contract manufacturers, with operations in China.
Deswell Industries reported a strong performance for the second half of fiscal 2022, achieving net sales of $45.7 million, a 22.9% increase year-over-year. The electronic segment saw a 25.7% rise, while the plastic segment increased by 16.3%. However, gross margins declined to 16.5%, down from 20.4%, due to rising raw material costs. Net income decreased to $4.1 million from $6.7 million, with earnings per share of $0.25. A cash dividend of $0.10 per share was announced, payable on July 15, 2022. The company maintains a solid balance sheet with $13.5 million in cash and no debt.
Deswell Industries (DSWL) reported a 43.7% increase in net sales to $39.8 million for the first half of fiscal 2022, driven by a 57.6% rise in the electronics segment. Despite this growth, total gross margins declined to 16.1% from 20.2% year-over-year, primarily due to rising raw material and labor costs in both plastic and electronic segments. Operating income increased to $1.2 million, while net income surged to $4.3 million, supported by higher non-operating income. A cash dividend of $0.10 per share was declared, payable on December 22, 2021.
Deswell Industries (Nasdaq: DSWL) has filed its Annual Report on Form 20-F for the fiscal year ending March 31, 2021, with the SEC. The report includes audited financial statements and is accessible on the SEC's website. Shareholders can request a free paper copy of the report. Deswell specializes in manufacturing injection-molded plastic parts, electronic products, and metallic molds for OEMs and contract manufacturers in China. The company also addresses potential risks affecting growth, including customer dependence, competition, and rising production costs.
Deswell Industries, Inc. (Nasdaq: DSWL) announced the acquisition of state-of-the-art manufacturing equipment for its electronics and plastics divisions. The investment includes CNY2.6 million for two Panasonic SMT placement systems and CNY2.8 million for two HaiTian injection molding machines, both expected to be installed in August 2021. CEO Edward So emphasized the importance of these strategic capital investments in supporting the company's long-term growth strategy and enhancing its competitiveness as a reliable manufacturing partner.