Business Context and Reporting Period
Company: Deswell Industries, Inc. (Nasdaq: DSWL)
Filing Type: Form 6-K (Report of Foreign Issuer)
Date: December 2, 2002
Business Overview: The Company manufactures injection-molded plastic parts, electronic products, subassemblies, and metallic products for OEMs and contract manufacturers. Operations are based in factories in the People's Republic of China. Key customers include Kyocera Mita, Epson, Inter-Tel, Vtech, Peavey Electronics, and Emerson.
Key Financial Metrics
This filing reports a specific corporate transaction rather than comprehensive financial results. The filing text does not provide clear values for revenue, profit, cash flow, margins, debt, or liquidity.
- Transaction Proceeds: $510,000 generated from the exercise of stock options by Executive Director C. W. Leung on November 30, 2002.
- Use of Proceeds: Working capital and general corporate purposes.
Material Changes
The filing details a cumulative increase in share exercises by directors:
- Recent Exercise: 45,000 common shares exercised by C. W. Leung on November 30, 2002.
- Cumulative Period (June 1, 2002 – November 30, 2002): Directors exercised a total of 330,000 common shares.
- Prior Period Context: This includes 285,000 shares exercised between June 1, 2002, and November 11, 2002.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on future performance, specific risk factors, or contingencies. The document is limited to the announcement of the option exercise and a general description of the Company's manufacturing operations.
Investor Verification Checklist
- Verify the impact of the $510,000 proceeds on the Company's working capital position.
- Confirm the total number of outstanding shares following the exercise of 330,000 options by directors in the second half of 2002.
- Review subsequent filings for full financial statements, as this 6-K does not contain revenue or earnings data.