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. 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.
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.