Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 73

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 5
Chunk 73
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 $1,920,000 in the 2023 fiscal year. The decrease in operating loss in the plastic segment was mainly due to a higher gross margin and lower SG& A expenses, as a result of the depreciation of the RMB, as described above.

The electronic segment reported operating income of $5,918,000 in the year ended March 31, 2024, compared to operating income of $6,219,000 in the 2023 fiscal year. The decrease in operating income was mainly due to the decrease in other income despite the increase in gross margin, as described above.

Non-OperatingIncome (Expense), Net - Non-operatingincome for the year ended March 31, 2024 was $4,034,000, as compared to a non-operatingexpense of $573,000 in last fiscal year. The increase in non-operatingincome was primarily due to increases of $4,925,000 in fair value of marketable securities held, $413,000 in dividend income and $387,000 in interest income and $293,000 from other income, offsetting decreases of $830,000 in rental income, and $581,000 in realized gain on the sale of marketable securities during the fiscal year ended March 31, 2024, as compared to the 2023 fiscal year.

Income Taxes - Current tax expense for the year ended March 31, 2024 was $269,000. The Company had a deferred tax benefit of $159,000. This is compared to a current tax expense of $410,000 and a deferred tax benefit of $155,000 in the last fiscal year.

On a segment basis, there was a current income tax provision of $68,000 and a deferred tax provision of $7,000 in the plastic segment for the year ended March 31, 2024, as compared to a deferred tax benefit of $133,000 during the last fiscal year. In the electronic segment, there was a current tax expense of $202,000 and a deferred tax benefit of $167,000 for the year ended March 31, 2024, as compared to a current tax expense of $409,000 and a deferred tax benefit of $22,000 in the 2023 fiscal year.

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Net Income - The Company had net income of $7,709,000 for the year ended March 31, 2024, as compared to net income of $2,059,000 for