Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 78

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 5
Chunk 78
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, $15.8 million and $28.1 million, respectively. Our cash and cash equivalents primarily consist of cash on hand and time certificates of deposit with a maturity of three months or less when purchased. We believe that our cash and cash equivalents and our anticipated cash flows from operations will be sufficient to meet our current and anticipated needs for general corporate purposes for at least the next 12 months.

Fiscal year 2025

For the year ended March 31, 2025, net cash provided by operating activities totaled $13,534,000, including net income of $11,138,000 and depreciation and amortization expenses of $1,519,000. For the year ended March 31, 2024, net cash provided by operating activities totaled $13,208,000, including net income of $7,709,000 and depreciation and amortization expenses of $1,523,000. Accounts receivable decreased by $2,139,000 as compared to balances at March 31, 2024, primarily as a result of a decrease in sales during the fiscal year. Inventories decreased by $2,488,000 over levels at March 31, 2024, mainly because of relatively lower levels of raw materials maintained during the fiscal year relating to decreased sales turnover. Accounts payable increased by $530,000 over levels at March 31, 2024, primarily because of the lengthier settlement process in the last quarter of fiscal year 2025.

Net cash provided by investing activities amounted to $2,037,000 for the year ended March 31, 2025 while net cash used in investing activities in fiscal year 2024 amounted to $16,430,000. Capital expenditures during these periods totaled $332,000 and $381,000, in fiscal year 2025 and 2024 respectively.

In fiscal year 2025, there was an increase in fixed deposits with original maturity over three months of $5,452,000 and a decrease in fixed deposits over twelve months of $38,000. Also, during fiscal year 2025, we acquired marketable securities for $3,090,000 and received $5,647,000 in cash proceeds from the sale of sale of marketable securities.

Net cash used in financing activities for the year ended March 31, 2025, was $3,188,000, which was mainly used to fund dividend payments to shareholders. Net cash used in financing activities for the year ended March