Net sales for the six months ended September 30, 2010 were $44.5 million, an increase of 2.1%, compared to sales of $43.6 million for the corresponding period in fiscal 2010. Operating loss for the six months ended September 30, 2010 was $4.4 million, compared to operating income of $2.7 million for the first six months of fiscal 2010. The Company reported net loss of $3.9 million in the first half of fiscal 2011, compared to net income of $2.9 million for the six months ended September 30, 2009. Deswell reported basic and diluted net loss per share of ($0.24) for the first six months of fiscal 2011, (based on 16,194,000 and 16,200,000 weighted average share outstanding, respectively), compared to income per share of $0.18, (based on 15,836,000 and 15,902,000 weighted average shares outstanding, respectively), for the prior corresponding period.The Company's financial position remained strong at the end of the second quarter of fiscal year 2011, with $32.6 million in cash and cash equivalents at September 30, 2010, compared to $35.1 million at March 31, 2010. Working capital totaled $58.3 million as of September 30, 2010, versus $59.8 million as of March 31, 2010. Furthermore, the Company has no long-term or short-term borrowings at September 30, 2010.
Deswell Announces Second Quarter Results
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