Deswell Industries Posts Wider Q4 Loss, Revenue Decline Vs. Prior Year

Deswell Industries (DSWL) reported that for Q4, or the quarter ended March 31, 2014, it widened its loss versus the prior year period, and revenue fell year over year.

The independent manufacturer of injection-molded plastic parts and components, electronic products and subassemblies and metallic molds and accessory parts for original equipment manufacturers (OEM) and contract manufacturers reported a Q4 net loss of $3.1 million or $0.19 loss per share, compared with the prior-year period’s net loss of $2 million or $0.12 loss per share. Revenue was $7.9 million, down 16.5% from $9.5 million in the same quarter last year.

No analyst estimates were available for comparison.

The company also said that on June 10, 2014 its board of directors declared a cash dividend of $0.05 per share for Q4. The dividend will be payable on June 30, 2014 to shareholders of record as of June 20, 2014.

Shares closed at $2.16 with a 52-week range of $1.98 – $2.70.

Deswell Industries, Inc. engages in the manufacture and sale of injection-molded plastic parts and components, electronic products and subassemblies, and metallic molds and accessory parts for original equipment manufacturers and contract manufacturers.

About

Elizabeth Clark, CPA, is a senior analyst for The Downtown Leader. If you have a great story idea for Elizabeth Clark, you can write at [Elizabeth.Clark@downtownleader.com ].

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