Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 66

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 5
Chunk 66
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       11.1                           46.2       16.5  

The Company used to include corporate expenses, which mainly included directors’ remuneration, legal and professional expenses and corporate insurance, in the segment of plastic injection. Commencing from fiscal year ended March 31, 2018, the corporate expenses are separately disclosed in the segment information for a more precise presentation of the financial performance of each segment.

Year Ended March 31, 2025 (Fiscal 2025) Compared to Year Ended March 31, 2024 (Fiscal 2024)

Net Sales - The Company’s net sales for the year ended March 31, 2025, were $67,610,000, a decrease of $1,758,000 or 2.5% as compared to $69,368,000 in the corresponding period in the fiscal year 2024. The decrease was related to decreases in sales revenues of $1,185,000 in our plastic segment, and of $573,000 in our electronic segment, as compared with respective net sales from these segments in the corresponding period of the prior fiscal year.

The revenue decrease in the plastic segment was mainly due to decreases in orders of $579,000 from existing customers for printer and telephone equipment, as well as $902,000 for robotic mops and vacuum cleaners, offsetting an increase in orders of $260,000 for plastic and gardening tool boxes from other existing customers.

The revenue decrease in the electronic segment was mainly due to decreases in orders of $6,020,000 from existing customers for vending machines, offsetting increases in orders of $4,294,000 for home entertainment products, as well as $1,156,000 for digital audio equipment from other existing customers.

Gross Profit - Gross profit for the year ended March 31, 2025, was $13,643,000 representing a gross profit margin of 20.2%. This is compared with the overall gross profit and gross profit margin of 13,903,000 or 20.0% for the year ended March 31, 2024.

Gross profit in the plastic segment decreased by $529,000 to $2,353,000 or 21.0% of net sales in the segment for the year ended March 31, 2025, as compared to $2,882,000 or 23.3% of net sales in the segment for the same period in the prior fiscal year. The decrease