Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 70

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 5
Chunk 70
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 was $5,177,000, as compared to net income of $2,234,000 for the 2024 fiscal year. The increase in net income in the plastic segment was mainly due to an increase in non-operatingincome as described above.

Net income for the electronic segment for the year ended March 31, 2025 was $7,309,000, as compared to net income of $6,737,000 for the 2024 fiscal year. The increase in net income in the electronic segment was mainly attributable to increases in gross margin as well as in non-operatingincome as described above.

Year Ended March 31, 2024 (Fiscal 2024) Compared to Year Ended March 31, 2023 (Fiscal 2023)

Net Sales - The Company’s net sales for the year ended March 31, 2024, were $69,368,000, a decrease of $7,969,000 or 10.3% as compared to $77,337,000 in the corresponding period in the fiscal year 2023. The decrease was related to decreases in sales revenues of $3,225,000 in our plastic segment, and of $4,744,000 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 $3,304,000 from existing customers for printer, telephone and office equipment, $872,000 for plastic and gardening toolboxes, as well as $1,319,000 for robotic mops and vacuum cleaners, offsetting increases in orders of $2,192,000 for tooling and other plastic products from other existing customers.

The revenue decrease in the electronic segment was mainly due to decreases in orders of $8,797,000 from existing customers for home entertainment products, offsetting increases in orders of $4,053,000 for digital audio workstations from other existing customers.

Gross Profit - Gross profit for the year ended March 31, 2024, was $13,903,000 representing a gross profit margin of 20.0%. This is compared with the overall gross profit and gross profit margin of 12,839,000 or 16.6% for the year ended March 31, 2023.

Gross profit in the plastic segment increased by $449,000 to $2,882,000 or 23.3% of