Deswell Industries, Inc. Announces Unaudited Consolidated Earnings Results for Six Months Ended Sept. 30, 2016
November 17, 2016 at 01:45 pm
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Deswell Industries, Inc. announced unaudited consolidated earnings results for six months ended Sept. 30, 2016. For the period, the company reported net sales of $20,634,000, operating loss of $1,818,000, income before income taxes of $798,000, net income attributable to Deswell Industries, Inc. of $711,000, net income per share - basic and diluted of $0.04, compared to the net sales of $23,648,000, operating loss of $2,623,000, loss before income taxes of $3,351,000, net loss attributable to Deswell Industries, Inc. of $3,472,000, net loss per share - basic and diluted of $0.22, for the same period a year ago. Net cash provided by operating activities was $921,000 compared with net cash used in operating activities was $1,993,000 a year ago. Purchase of property, plant and equipment was $397,000 compared with $181,000 a year ago.
Deswell Industries, Inc. is engaged in the manufacturing and selling of injection-molded plastic parts and components. The Company also provides manufacturing services for electronic products and subassemblies, and manufactures metallic molds and accessory parts for original equipment manufacturers (OEMs) and contract manufacturers. Its segments include plastic injection molding and electronic products assembling. It produces a range of plastic parts and components that are used in the manufacture of consumer and industrial products, using various plastic injection technologies, such as film injection, integrated injection and insert injection. Its products include plastic components of electronic entertainment products; cases for flashlights, telephones, paging machines, projectors and alarm clocks; toner cartridges and cases for photocopy and printer machines; parts for electrical products, such as air-conditioning and ventilators; laser key caps, and automobile components.