Welcome to our dedicated page for Deswell Inds news (Ticker: DSWL), a resource for investors and traders seeking the latest updates and insights on Deswell Inds stock.
Deswell Industries Inc (NASDAQ: DSWL) is a manufacturing company that produces injection-molded plastic parts and components, electronic products and subassemblies, and metallic molds and accessory parts for original equipment manufacturers (OEMs) and contract manufacturers. This news page focuses on company announcements and financial updates that Deswell furnishes through press releases and Form 6-K filings.
Readers can find coverage of Deswell’s interim and full-year financial results, including segment performance for its plastic injection molding and electronic products assembling operations. The company’s news frequently discusses net sales trends, gross margin changes, operating income, non-operating income, and factors such as product mix, labor and raw material costs, and the impact of currency movements like the depreciation of the renminbi on its margins.
Deswell’s news flow also includes information on cash dividends per share declared for different halves of its fiscal year, with details on record dates and payment dates. In addition, the company issues announcements about the filing and availability of its Annual Report on Form 20-F, amendments to that report when required, and the results and logistics of its annual meetings of shareholders, including the election of directors and ratification of independent registered public accountants.
Other items that may appear in Deswell’s news include board-level changes and governance updates, as well as commentary from management on business conditions and demand in end markets such as audio equipment, home entertainment products, IoT devices and other consumer and industrial applications that use Deswell’s components and assemblies. Investors and observers who follow DSWL news can use this page to review these company communications in one place and monitor how Deswell describes the performance of its plastics and electronics segments over time.
Deswell Industries reported significant financial results for the second half of fiscal 2021, with net sales of $37.2 million, a 34.5% increase year-over-year. The electronic segment saw a remarkable 53.6% sales growth, while total gross margin rose to 20.4%. Operating income surged to $2.3 million from $0.3 million in the previous year, and net income reached $6.7 million, up from a loss of $2.6 million. The company's strong cash position of $20.2 million and no debt enhance its financial flexibility. A dividend of $0.10 per share was also declared for shareholders.
Deswell Industries reported unaudited financial results for the first half of fiscal 2021, showing a 26.6% decline in net sales to $27.7 million compared to $37.7 million in the prior year. The plastic segment experienced a 40.4% drop in sales, while the electronic segment saw a 17.8% decrease. Despite the revenue decline, gross margins improved to 20.2% from 17.4%, and net income rose to $1.5 million. The company declared a dividend of $0.09 per share, highlighting a strong financial position with no long-term borrowings.