Deswell Industries, Inc. (NASDAQ:DSWL) has released the second quarter earnings for the quarter ended September 30, 2009. The company’s net sales for the second quarter were $20.8 million, 35.3% less than the $32.2 million reported for the same period during the fiscal year 2009. It’s operating loss during the second quarter was $1.3 million, down from the $1.7 million for the same period during fiscal 2008.
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Deswell’s non operating income was $4.3 million, after a realization of a net gain of $4.2 million from the disposal of a former manufacturing plant. It’s total gross margin was 13.9% compared to the 10.9% reported for the previous year during the same period. The full financial report is available for review on the company’s website, http://www.deswell.com/.
Deswell Industries, Inc. (Deswell) is a manufacturer of injection-molded plastic parts and components, electronic products and subassemblies and metallic molds and accessory parts for original equipment manufacturers (OEMs) and contract manufacturers. The Company conducts all of its manufacturing activities at separate plastics, electronics and metallic operation factories located in the People’s Republic of China. The Company has three segments: plastic injection molding, electronic products assembling and metallic parts manufacturing. The Company produces a variety of plastic parts and components that are used in the manufacture of consumer and industrial products, using different plastic injection technologies, such as film injection, integrated injection and insert injection. The products include plastic component of electronic entertainment products; cases for flashlights, telephones, paging machines, projectors and alarm clocks; laser key caps, and automobile components.
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