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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 11/10/20 Deswell Industries Inc. 6-K 11/10/20 1:195K Business Wire/FA |
Document/Exhibit Description Pages Size 1: 6-K Deswell Industries, Inc. 6-K HTML 106K
September 30,
|
||||||||
2020
|
||||||||
ASSETS
|
(Unaudited)
|
(Audited)
|
||||||
Current assets :
|
||||||||
Cash and cash equivalents
|
$
|
19,439
|
$
|
22,514
|
||||
Fixed deposits maturing over three months
|
3,489
|
783
|
||||||
Time deposits maturing over twelve months-current portion
|
1,451
|
-
|
||||||
Marketable securities (note 2)
|
21,901
|
19,441
|
||||||
Accounts receivable, net
|
14,017
|
12,301
|
||||||
Inventories (note 3)
|
10,164
|
8,578
|
||||||
Prepaid expenses and other current assets
|
1,608
|
1,752
|
||||||
Total current assets
|
72,069
|
65,369
|
||||||
Property, plant and equipment - net
|
27,766
|
28,586
|
||||||
Time deposits maturing over twelve months
|
-
|
1,424
|
||||||
Total assets
|
$
|
99,835
|
$
|
95,379
|
||||
LIABILITIES AND SHAREHOLDERS' EQUITY
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||||||||
Current liabilities
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||||||||
Accounts payable
|
$
|
8,207
|
$
|
4,604
|
||||
Accrued payroll and employee benefits
|
6,415
|
6,077
|
||||||
Customer deposits
|
1,305
|
1,172
|
||||||
Other accrued liabilities
|
1,824
|
1,718
|
||||||
Income taxes payable
|
830
|
735
|
||||||
Total current liabilities
|
18,581
|
14,306
|
||||||
Deferred income tax liabilities
|
832
|
751
|
||||||
Total liabilities
|
19,413
|
15,057
|
||||||
Shareholders' equity
|
||||||||
Common shares nil par value - authorized 30,000,000 shares,
|
||||||||
17,061,810 shares issued as of March 31, 2020 and September 30, 2020; 15,915239 shares outstanding as of
|
||||||||
53,143
|
53,143
|
|||||||
Treasury stock at cost; 1,146,571 and 1,146,571 shares as of
|
||||||||
(2,821
|
)
|
(2,821
|
)
|
|||||
Additional paid-in capital
|
7,989
|
7,989
|
||||||
Accumulated other comprehensive income
|
5,316
|
5,316
|
||||||
Retained earnings
|
16,795
|
16,695
|
||||||
Total shareholders' equity
|
80,422
|
80,322
|
||||||
Total liabilities and shareholders' equity
|
$
|
99,835
|
$
|
95,379
|
Six months ended
|
||||||||
2019
|
||||||||
Net sales
|
$
|
27,690
|
$
|
37,713
|
||||
Cost of sales
|
22,095
|
31,169
|
||||||
Gross profit
|
5,595
|
6,544
|
||||||
Selling, general and administrative expenses
|
4,720
|
5,208
|
||||||
Other income (expense), net
|
84
|
(180
|
)
|
|||||
Operating income
|
959
|
1,156
|
||||||
Non-operating income, net
|
804
|
219
|
||||||
Income before income taxes
|
1,763
|
1,375
|
||||||
Income taxes
|
231
|
126
|
||||||
Net income attributable to Deswell Industries, Inc.
|
$
|
1,532
|
$
|
1,249
|
||||
|
||||||||
Other comprehensive income
|
$
|
-
|
$
|
-
|
||||
Comprehensive income attributable to Deswell Industries, Inc.
|
$
|
1,532
|
$
|
1,249
|
||||
Net income per share attributable to
|
||||||||
Deswell Industries, Inc. (note 4)
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||||||||
Basic:
|
||||||||
Net income per share
|
$
|
0.10
|
$
|
0.08
|
||||
Weighted average common shares outstanding
|
||||||||
shares (in thousands)
|
15,915
|
15,912
|
||||||
Diluted:
|
||||||||
Net income per share
|
$
|
0.10
|
$
|
0.08
|
||||
Weighted average common shares
|
||||||||
outstanding shares (in thousands)
|
15,959
|
15,973
|
( U.S. dollars in thousands )
|
Six months ended
|
|||||||
2019
|
||||||||
Cash flows from operating activities :
|
||||||||
Net income
|
$
|
1,532
|
$
|
1,249
|
||||
Adjustments to reconcile net income to net cash:
|
||||||||
Depreciation and amortization
|
895
|
1,014
|
||||||
Provision for doubtful accounts, net
|
432
|
202
|
||||||
Allowance for obsolete inventories
|
132
|
53
|
||||||
Loss on disposal of property, plant and equipment
|
10
|
34
|
||||||
Unrealized holding loss on marketable securities
|
527
|
1,252
|
||||||
Realized gain on disposal of marketable securities
|
(54
|
)
|
(29
|
)
|
||||
Scrip dividend received
|
(448
|
)
|
10
|
|||||
Deferred tax
|
81
|
(28
|
)
|
|||||
Changes in operating assets and liabilities :
|
||||||||
Accounts receivable
|
(2,148
|
)
|
(6,036
|
)
|
||||
Inventories
|
(1,718
|
)
|
2,114
|
|||||
Prepaid expenses and other current assets
|
144
|
(6
|
)
|
|||||
Accounts payable
|
3,603
|
2,470
|
||||||
Accrued payroll and employee benefits
|
338
|
368
|
||||||
Customer deposits
|
133
|
(217
|
)
|
|||||
Other accrued liabilities
|
106
|
100
|
||||||
Income taxes payable
|
95
|
49
|
||||||
Net cash provided by operating activities
|
3,660
|
2,599
|
||||||
Cash flows from investing activities
|
||||||||
Purchase of property, plant and equipment
|
(85
|
)
|
(270
|
)
|
||||
Proceeds from sale of property, plant and equipment, net of transaction costs
|
-
|
5
|
||||||
Purchase of marketable securities
|
(3,026
|
)
|
(1,264
|
)
|
||||
Proceeds from disposal of marketable securities
|
541
|
1,620
|
||||||
Increase in fixed deposits maturing over three months
|
(2,706
|
)
|
(1,471
|
)
|
||||
Increase in fixed deposits maturing over twelve months
|
(27
|
)
|
(1,417
|
)
|
||||
Net cash used in investing activities
|
(5,303
|
)
|
(2,797
|
)
|
||||
Cash flows from financing activities
|
||||||||
Dividends paid
|
(1,432
|
)
|
(1,114
|
)
|
||||
Exercise of stock options
|
-
|
64
|
||||||
Net cash used in financing activities
|
(1,432
|
)
|
(1,050
|
)
|
||||
Net decrease in cash and cash equivalents
|
(3,075
|
)
|
(1,248
|
)
|
||||
Cash and cash equivalents, beginning of period
|
22,514
|
14,371
|
||||||
Cash and cash equivalents, end of period
|
19,439
|
13,123
|
||||||
Supplementary disclosures of cash flow information :
|
||||||||
Cash paid during the year for :
|
||||||||
Interest
|
-
|
-
|
||||||
Income taxes
|
78
|
57
|
March 31, 2020
|
||||||
Cost
|
Gross Unrealized (loss)
|
Fair value
|
||||
Marketable securities
|
||||||
Equity securities
|
$21,920
|
($2,479)
|
$19,441
|
|||
September 30, 2020
|
||||||
Cost
|
Gross Unrealized (loss)
|
Fair value
|
||||
Marketable securities
|
||||||
Equity securities
|
$24,907
|
($3,006)
|
$21,901
|
This ‘6-K’ Filing | Date | Other Filings | ||
---|---|---|---|---|
12/10/20 | ||||
11/23/20 | ||||
Filed on / For Period end: | 11/10/20 | |||
9/30/20 | ||||
7/17/20 | 20-F, 6-K | |||
3/31/20 | 20-F | |||
9/30/19 | ||||
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