To learn more about Deswell Industries, Inc., please visit the Company’s website at www.deswell.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. The accuracy of these forward-looking statements may be impacted by a number of business risks and uncertainties that could cause Deswell’s actual results to differ materially from those projected or anticipated, including: the risk that the share repurchase program will not increase shareholder value, that Deswell’s long-term prospects as currently anticipated by management will not be achieved, that Deswell’s cash balances will remain sufficient in the future to fund the share repurchase program and other risks discussed in Deswell’s filings with the SEC, including factors which cause our revenues and income to fall short of anticipated levels or overhead expenses to increase; that result from our dependence on a few major customers, from vigorous competition forcing product price reductions or discounts, from the timing and amount of significant orders from our relatively few large customers; that occur from increases in resin prices that cannot be passed on to customers, unexpected production delays in production of our products, increases in obsolete inventory or product returns; result in losses from fraudulent activity of our customers or employees; adverse effects from labor shortages or increased labor costs, changes in the mix of product products we manufacture and sell, caused by currency fluctuations in the renminbi or the Hong Kong dollar when translated to US dollars; adverse effects on our business from potential new accounting pronouncements, future travel restrictions or quarantines associated with major health problems; or result from a further downturn in general economic activity.