| Deswell’s Q2 Sales Down 35% |
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| Written by Chelsey Drysdale | |||
| Thursday, 03 December 2009 15:45 | |||
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MACAO – Deswell Industries reported second-quarter net sales of $20.8 million, down 35.3% year-over-year. Deswell provides a host of services, including contract electronics assembly. The company cited lower demand for plastic injection molding and audio and instrument equipment. Net income was $3.1 million for the second quarter, compared to net loss of $1.7 million last year. The firm posted an operating loss of $1.3 million for the quarter, compared to an operating loss of $1.7 million for the same quarter of 2008. Net sales for the six months ended Sept. 30 were $43.6 million, down 35.2% year-over-year. Operating loss for the six-month period was $1.5 million, compared to an operating loss of $400,000 in 2008. Deswell reported net income of $2.9 million, compared to a loss of $400,000 last year. “We are expecting some sales to be generated in the coming quarters from new market segments, such as audio amplifiers, products with LCD display and others,” said CEO Franki Tse.
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