BVI company announced financial results for second quarter of fiscal year

Deswell Industries, Inc., incorporated in the British Virgin Islands, announced its financial results for the fiscal second quarter of the year ended September 30, 2015. In the reported period, company’s net sales were US$12.4 million, an increase of 21.4 per cent compared to net sales of US$10.2 million for the same quarter of 2014. Operating loss in the second quarter of fiscal 2016 was US$1.0 million, compared to the operating loss of US$1.9 million for the same quarter of fiscal 2015. Total gross margin increased to 10.8% as compared to 6.8% in the same period of the previous year.

The BVI company announced net loss of US$2.4 million for the reported period, compared to net loss of US$1.7 million for the second quarter of fiscal 2014. Deswell reported loss per share (basic and diluted) of US$0.15 for the second quarter of fiscal 2016, compared to US$0.11 for the quarter ended September 30, 2014. At September 30, 2015, the company had US$9.1 million in cash and cash equivalents (US$19.5 million at September 30, 2014).

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