Deswell (DSWL) has released an update.
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Deswell Industries, Inc. reported a decrease in net sales to $31.6 million for the second half of the fiscal year ending March 31, 2024, but saw an increase in gross margin and operating income, leading to a net income of $4.2 million. The company’s strong financial position is highlighted by $15.8 million in cash and cash equivalents, along with a declared second half cash dividend of $0.10 per share. Despite a challenging economic environment, Deswell achieved improved profitability and margin performance, with a strategic focus on reducing costs and enhancing product mix.
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