<SEC-DOCUMENT>0001157523-22-000772.txt : 20220616
<SEC-HEADER>0001157523-22-000772.hdr.sgml : 20220616
<ACCEPTANCE-DATETIME>20220616115027
ACCESSION NUMBER:		0001157523-22-000772
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20220616
FILED AS OF DATE:		20220616
DATE AS OF CHANGE:		20220616

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DESWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000946936
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS PRODUCTS, NEC [3089]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33900
		FILM NUMBER:		221019821

	BUSINESS ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		2127320030

	MAIL ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
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<FILENAME>a52752112.htm
<DESCRIPTION>DESWELL INDUSTRIES, INC. 6-K
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold;">FORM 6-K</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Washington, D.C. 20549</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">REPORT OF FOREIGN ISSUER</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Pursuant to Rule 13a-16 or 15d-16 of the</div>
    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Securities Exchange Act of 1934</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">For June 16, 2022</div>
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    <div style="text-align: center; font-family: 'Times New Roman'; font-size: 16pt; font-weight: bold;">DESWELL INDUSTRIES, INC.</div>
    <div style="text-align: center; font-family: 'Times New Roman';">(Registrant&#8217;s name in English)</div>
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    <div style="text-align: center; font-family: 'Times New Roman';">10B Edificio Associacao Industrial de Macau</div>
    <div style="text-align: center; font-family: 'Times New Roman';">32-36 Rua do Comandante Mata e Oliveira</div>
    <div style="text-align: center; font-family: 'Times New Roman';">Macau</div>
    <div style="text-align: center; font-family: 'Times New Roman';">Special Administrative Region, PRC</div>
    <div style="text-align: center; font-family: 'Times New Roman';">&#160;(Address of principal executive offices)</div>
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            <div style="font-size: 10pt; font-family: 'Times New Roman';">Date: June 16, 2022 </div>
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            <div style="font-family: 'Times New Roman'; font-weight: bold; text-align: center;">Deswell Announces Second Half 2022&#160;Results</div>
            <div style="font-family: 'Times New Roman'; text-align: center;">&#160;</div>
            <div style="font-family: 'Times New Roman'; font-weight: bold; text-align: center;">-&#160; Company Announces Second Half Cash Dividend of 0.10 Per Share -</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-weight: bold;"><u>FOR IMMEDIATE RELEASE</u></div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">MACAO (June 16, 2022) - Deswell Industries, Inc. (Nasdaq: DSWL) today announced its unaudited financial results for the second half of the fiscal year ended March 31, 2022.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">Net sales for the six months ended March 31, 2022 were $45.7 million, an increase of 22.9% compared to net sales of $37.2 million for the six months ended March 31, 2021. Net sales increased by 16.3%
              to $12.9 million in the plastic segment and by 25.7% to $32.8 million in the Company&#8217;s electronic segment.&#160;</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">Total gross margin decreased to 16.5% during the six months ended March 31, 2022, as compared to 20.4% in the same period last year.&#160;&#160;Gross profit margin in the plastic segment decreased to 19.2% of
              net sales for the second half of fiscal 2022, as compared to 26.0% of net sales for the corresponding period of the last fiscal year.&#160;&#160; For the electronic segment, gross profit margin decreased from 17.9% in the second half of fiscal 2021 to
              15.4% in the second half of fiscal 2022.&#160; The decrease in the gross profit margin in both the plastic and electronic segments is mainly attributable to increase in raw materials costs, such as plastic resins and semiconductor chips,
              respectively, as a result of the continuing shortage in supply and pricing volatility, as well as surging demand in the automotive industry for these primary materials, which resulted in the increased cost of semi-conductor chips.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">Operating income for the second half of fiscal 2022 decreased from $2.3 million in the second half of fiscal 2021 to $1.7 million in the second half of fiscal 2022.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">The Company reported net income of $4.1 million for the six months ended March 31, 2022, as compared to net income of $6.7 million for the six months ended March 31, 2021.&#160; Non-operating income for
              the six months ended March 31, 2022 was $2.0 million, as compared to a non-operating income of $4.6 million in the six months ended March 31, 2021.&#160;&#160;Non-operating income during the six months ended March 31, 2022 was primarily comprised of
              unrealized gain in marketable securities of $27,000, $1,027,000 from rental income, $454,000 of dividend income from securities investments, and realized gain of $419,000 from the sale of marketable securities, as compared to an unrealized
              gain in marketable securities of $2,538,000, rental income of $1,214,000, dividend income of $482,000 from securities investments and realized gain of $279,000 from the sale of marketable securities in the second half of fiscal 2021.&#160; Deswell
              reported basic and diluted income per share of $0.25 for the second half of fiscal 2022 (based on 15,935,000 and 16,038,000 weighted average shares outstanding, respectively), as compared to basic and diluted income per share of $0.42 (based
              on 15,915,000 and 15,995,000 weighted average shares outstanding), for the six months ended March 31, 2021.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">Net sales for the year ended March 31, 2022 were $85.5 million, an increase of 31.8% compared to net sales of $64.9 million for fiscal 2021.&#160; Operating income for the year ended March 31, 2022
              decreased to $2.9 million, as compared to operating income of $3.3 million for fiscal 2021. The Company reported net income of $8.4 million in fiscal 2022, as compared to net income of $8.2 million for the year ended March 31, 2021. The
              increase in net income was mainly attributed to the increase of sales, offsetting by the decrease in gross profit margin due to increased raw materials cost in fiscal 2022. Deswell reported basic and diluted net income per share of $0.52 for
              fiscal 2022, (based on 15,929,000 and 16,137,000 weighted average shares outstanding, respectively), as compared to basic net income per share of $0.52 and diluted net income per share of $0.51 (based on 15,915,000 and 16,047,000 weighted
              average shares outstanding), for the prior fiscal year.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">The Company's financial position remained strong, with $13.5 million in cash and cash equivalents and working capital totaling $64.0 million as of March 31, 2022. Furthermore, the Company has no
              long-term or short-term borrowings as of March 31, 2022.</div>
            <div style="font-family: 'Times New Roman';">&#160;</div>
            <div style="font-family: 'Times New Roman';">Mr. Edward So, Chief Executive Officer, commented, &#8220;We concluded fiscal year 2022 with strong revenue growth during the second half, reflecting significantly improved sales in both the plastics and
              the electronics segments.&#160; Sales growth in the plastics business was largely driven by increased orders from a new customer for robotic mops and vacuum cleaners and in the electronics segment we saw continued demand for home audio and
              entertainment equipment as well as returning demand for professional audio instruments and equipment.&#160; That said, despite the strong sales activity, we experienced margin compression related to increased raw material costs in both segments,
              and particularly in the electronics segment, as a result of the continued scarcity of semi-conductor chips coupled with surging demand from other industries including automotive.&#160; We continue to leverage our longstanding supplier
              relationships to mitigate the effects of the global component shortage and limited supply.&#160; Additionally, throughout fiscal 2022, certain quarantines and restrictions related to Covid-19 outbreaks persisted, and Deswell continued to
              effectively manage our operations and production.&#8221;</div>
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              <div style="font-family: 'Times New Roman';">Mr. So concluded, &#8220;Our balance sheet remains solid, with a strong cash position and no debt, providing us the financial resources to continue executing our long-term growth strategy to grow our
                market recognition among existing and potential new customers as a consistent and reliable manufacturing partner.&#160;&#160; As we begin moving through fiscal 2023, we remain focused on delivering operational excellence to capitalize on the interest
                we&#8217;re seeing from the marketplace, with the goal of driving continued growth and profitability moving forward.&#8221;</div>
              <div style="font-family: 'Times New Roman';">&#160;</div>
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Second Half Dividend</div>
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              <div style="font-family: 'Times New Roman';">The Company also announced that its board of directors today declared a cash dividend of $0.10 per share for the second half of the fiscal year ended March 31, 2022.&#160; The dividend will be payable
                on July 15, 2022 to shareholders of record as of June 30, 2022.</div>
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              <div style="font-family: 'Times New Roman';">Dividends to be declared in the future will depend upon the Company&#8217;s future growth and earnings, of which there can be no assurance, and the Company&#8217;s cash flow needs for future development.</div>
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              <div style="font-family: 'Times New Roman'; font-weight: bold;">About Deswell</div>
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              </div>
              <div style="font-family: 'Times New Roman';">Deswell manufactures injection-molded plastic parts and components, electronic products and subassemblies, and metallic molds and accessory parts for original equipment manufacturers (&#8220;OEMs&#8221;) and
                contract manufacturers at its factories in the People&#8217;s Republic of China.&#160;&#160;The Company produces a wide variety of plastic parts and components used in the manufacture of consumer and industrial products; printed circuit board assemblies
                using surface mount (&#8220;SMT&#8221;) and finished products such as telephones, professional audio equipment, home audio products, and Internet-of-Things (IoT) products.&#160;&#160;</div>
              <div style="font-family: 'Times New Roman';">&#160;</div>
              <div style="font-family: 'Times New Roman';">To learn more about Deswell Industries, Inc., please visit the Company&#8217;s website at www.deswell.com.</div>
              <div style="font-family: 'Times New Roman';">&#160;</div>
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Forward-Looking Statements</div>
              <div style="font-family: 'Times New Roman';">Statements in this press release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. For example, our statements
                regarding our expected growth in sales from the electronic division in the coming year and our efforts to reduce overhead costs in our plastic division are forward-looking statements.&#160;&#160;Actual results could differ materially because of the
                following factors, among others, which may cause revenues and income to fall short of anticipated levels or our overhead expenses to increase: our dependence on a few major customers; vigorous competition forcing product price reductions or
                discounts; the timing and amount of significant orders from our relatively few significant customers; continuing increases in resin prices that cannot be passed on to customers; unexpected production delays; obsolete inventory or product
                returns; losses resulting from fraudulent activity of our customers or employees; labor shortages that increase labor and costs; changes in the mix of product products we manufacture and sell; adverse currency fluctuations in the Renminbi
                and Hong Kong dollar when translated to US dollars; potential new accounting pronouncements; and the effects of travel restrictions and quarantines associated with major health problems, such as the Severe Acute Respiratory Syndrome, on
                general economic activity.</div>
              <div style="font-family: 'Times New Roman';"><br>
              </div>
              <div style="font-family: 'Times New Roman';">For further information regarding risks and uncertainties associated with the Company&#8217;s business, please refer to the &#8220;Risk Factors&#8221; section of Company&#8217;s Annual Report on Form 20-F, copies of which
                may be obtained from the Website maintained by the Securities and Exchange Commission at http://www.sec.gov.</div>
              <div style="font-family: 'Times New Roman';"><br>
              </div>
              <div style="font-family: 'Times New Roman';">All information in this release is made as of the date of this press release.&#160;&#160;Deswell undertakes no duty to update any forward-looking statement to conform the statement to actual results or
                changes in Deswell&#8217;s expectations.</div>
              <div style="font-family: 'Times New Roman';"><br>
              </div>
              <div style="font-family: 'Times New Roman'; font-weight: bold;">Investor Relations Contact:</div>
              <div style="font-family: 'Times New Roman';">John Nesbett/Jennifer Belodeau</div>
              <div style="font-family: 'Times New Roman';">IMS Investor Relations</div>
              <div style="font-family: 'Times New Roman';">203.972.9200</div>
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            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DESWELL INDUSTRIES, INC.</div>
            <div style="text-align: center; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CONSOLIDATED BALANCE SHEET</div>
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                    <div style="text-align: center;"> March 31,</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="text-align: center;"> March 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="text-align: center;"><u> 2022</u></div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="text-align: center;"><u>2021</u></div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div>ASSETS</div>
                  </td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="text-align: center;"> (Unaudited)</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="text-align: center;"> (Audited)</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div>Current assets :</div>
                  </td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Cash and cash equivalents</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>13,465</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>20,223</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Time deposits maturing over three months</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>4,354</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>2,700</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Time deposits maturing over twelve months-current</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>1,564</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>-</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Marketable securities (note2)</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>24,499</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>22,373</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Accounts receivable, net</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>18,195</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>14,708</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Inventories (note 3)</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>23,819</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>16,193</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                    <div>Prepaid expenses and other current assets</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>2,054</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>2,489</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>&#160;&#160;&#160;&#160;&#160;&#160;Total current assets</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>87,950</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>78,686</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                    <div>Property, plant and equipment - net</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>27,017</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>27,323</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                    <div>Time deposits maturing over twelve months</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>313</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>1,851</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 2px;">
                    <div>Deferred income tax assets</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>259</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>-</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 4px;">
                    <div>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total assets</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>115,539</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>107,860</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                    <div>LIABILITIES AND SHAREHOLDERS' EQUITY</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                    <div>Current liabilities</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Accounts payable</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                    <div>$</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>9,838</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                    <div>$</div>
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                    <div>9,522</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Accrued payroll and employee benefits</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>7,611</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>7,107</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Customer deposits</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>2,343</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>1,683</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Other accrued liabilities</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>2,950</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>2,016</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                    <div>Income taxes payable</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>1,232</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>886</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>&#160;&#160;&#160;&#160;Total current liabilities</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>23,974</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>21,214</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                    <div>Deferred income tax liabilities</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>659</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>957</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 4px;">
                    <div>Total liabilities</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>24,633</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>22,171</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                    <div>Shareholders' equity</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                    <div>Common shares nil par value - authorized 30,000,000 shares,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-left: 9pt; width: 76.78%;">
                    <div style="font-family: 'Times New Roman';">&#160;&#160;17,061,810 shares issued as of March 31, 2021 and,</div>
                    <div style="font-family: 'Times New Roman';">&#160;&#160;17,081,810 shares issued as of March 31, 2022;</div>
                    <div style="font-family: 'Times New Roman';">&#160;&#160;15,915,239 shares outstanding as of March 31, 2021 and,</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                    <div>&#160;&#160;15,935,239 shares outstanding as of March 31, 2022</div>
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                    <div>53,202</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                    <div>53,143</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
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                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                    <div>(2,821</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                    <div>)</div>
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                    <div>7,973</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                    <div>7,989</div>
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                    <div>Accumulated other comprehensive income</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>5,316</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                    <div>5,316</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                <tr>
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                    <div>Retained earnings</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>27,236</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                    <div>22,062</div>
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                    <div>90,906</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div>85,689</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>$</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>115,539</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>$</div>
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                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                    <div>107,860</div>
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                  <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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          <div>
            <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">DESWELL INDUSTRIES, INC.</div>
            <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">CONSOLIDATED STATEMENT OF OPERATIONS &amp; COMPREHENSIVE INCOME</div>
            <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">(UNAUDITED)</div>
            <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">(U.S. dollars in thousands, except per share data)</div>
            <div style="font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;"> <br>
            </div>
            <div style="font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">
              <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="zea9578566d734691ad9ef54b82c92261" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

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                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle;">&#160;</td>
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                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;">Six months ended</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;">Year ended</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="6" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;">March 31,</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="6" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;">March 31,</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: middle; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;"><u> 2022</u></div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;"><u>2021</u></div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;"><u>2022</u></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 9pt;"><u>2021</u></div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle;"><br>
                    </td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle;"><br>
                    </td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: middle;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom;">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Net sales</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">45,708</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">37,196</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">85,490</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">64,886</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 2px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Cost of sales</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">38,176</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">29,625</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">71,538</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">51,720</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Gross profit</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">7,532</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">7,571</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">13,952</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">13,166</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Selling, general and administrative expenses</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">5,791</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">5,590</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">11,139</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">10,310</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 2px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Other income (expense), net</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">(37</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">)</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">321<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">74<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">405</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Operating income</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">1,704</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">2,302</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">2,887</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">3,261</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 2px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Non-operating income, net</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">2,020</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">4,641</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">5,308</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">5,445</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Income before income taxes</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">3,724</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">6,943</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,195</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,706</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 2px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Income tax (benefit) expense</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">(338</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">244<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">(165</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">)</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="text-align: right; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">475<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Net income attributable to Deswell Industries, Inc.</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">4,062</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">6,699</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,360</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,231</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 2px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Other comprehensive income</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="margin-left: 9pt">
                        <div style="margin-left: 9pt">
                          <div style="margin-left: 9pt">
                            <div style="margin-left: 9pt">
                              <div style="margin-left: 9pt">
                                <div style="margin-left: 9pt">
                                  <div style="margin-left: 9pt">
                                    <div style="margin-left: 9pt">-<br>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="margin-left: 9pt">
                        <div style="margin-left: 9pt">
                          <div style="margin-left: 9pt">
                            <div style="margin-left: 9pt">
                              <div style="margin-left: 9pt">
                                <div style="margin-left: 9pt">
                                  <div style="margin-left: 9pt">
                                    <div style="margin-left: 9pt">-<br>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="margin-left: 9pt">
                        <div style="margin-left: 9pt">
                          <div style="margin-left: 9pt">
                            <div style="margin-left: 9pt">
                              <div style="margin-left: 9pt">
                                <div style="margin-left: 9pt">
                                  <div style="margin-left: 9pt">
                                    <div style="margin-left: 9pt">-<br>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="text-align: center; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: center; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="margin-left: 9pt">
                        <div style="margin-left: 9pt">
                          <div style="margin-left: 9pt">
                            <div style="margin-left: 9pt">
                              <div style="margin-left: 9pt">
                                <div style="margin-left: 9pt">
                                  <div style="margin-left: 9pt">
                                    <div style="margin-left: 9pt">-<br>
                                    </div>
                                  </div>
                                </div>
                              </div>
                            </div>
                          </div>
                        </div>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Total comprehensive income attributable to Deswell</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 4px;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Industries, Inc.</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">4,062</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">6,699</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,360</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">8,231</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Net income per share attributable to</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">Deswell Industries, Inc. (note 4)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Basic:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 4px;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">Net income per share</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.25</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.42</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.52</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.52</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">Weighted average common shares outstanding</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 4px;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">shares (in thousands)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">15,935</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">15,915</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">15,929</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">15,915</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman', serif; font-size: 9pt;">Diluted:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 4px;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">Net income per share</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.25</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.42</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.52</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">$<br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">0.51</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%;">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt; margin-left: 9pt;">Weighted average common shares</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;"><br>
                    </td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%;"><br>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%;">
                      <div style="margin-left: 9pt"><br>
                      </div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" rowspan="1" style="vertical-align: middle; width: 52.53%; padding-bottom: 4px;">
                      <div style="margin-left: 9pt;">outstanding (in thousands) <br>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">16,038</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">15,995</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">16,137</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftguttercell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" class="cftcurrcell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" class="cftnumcell" colspan="1" rowspan="1" style="vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div style="font-family: 'Times New Roman',serif; font-size: 9pt;">16,047</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" rowspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);"><br>
                    </td>
                  </tr>

              </table>
            </div>
            <div style="font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;"> </div>
            <div style="font-family: 'Times New Roman',serif; font-size: 11pt; font-weight: bold;"> </div>
            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div id="DSPFPageBreak" style="page-break-after: always;">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font>
            <div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DESWELL&#160; INDUSTRIES,&#160; INC.</div>
              <div>
                <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">CONSOLIDATED&#160; STATEMENT&#160; OF&#160; CASH&#160; FLOWS&#160; (UNAUDITED)</div>
                <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
                </div>
              </div>
            </div>
            <div>
              <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="zcdbb0978f49b42a7926a8e5bd5a7770a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="font-weight: bold;">( U.S. dollars in thousands )</div>
                    </td>
                    <td valign="bottom" colspan="6" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="text-align: center;">Year ended</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt;">&#160;</td>
                    <td valign="bottom" colspan="6" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="text-align: center;">March 31,</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="text-align: center;"><u> 2022</u></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="text-align: center;"><u>2021</u></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div>Cash flows from operating activities :</div>
                    </td>
                    <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>Net income</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>8,360</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>$</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>8,231</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>Adjustments to reconcile net income to net cash provided by operating activities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>1,736</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>1,755</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div style="text-align: justify;">&#160;&#160;&#160;&#160;&#160;(Reversal of) provision for credit losses</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(148</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>397</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-left: 9pt; width: 76.78%;">
                      <div style="font-family: 'Times New Roman', serif;"><font style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;Usage of obsolescence allowance of inventories, net</font></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(25</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Loss (gain) on disposal of property, plant and&#160;&#160; </div>
                      <div>equipment</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>24</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(22</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Unrealized holding gains on marketable&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; </div>
                      <div>securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(872</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(2,010</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Gain on sales of marketable securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(1,073</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(333</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Scrip dividend received</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(19</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Exchange loss (gain) from marketable securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>117</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(661</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Deferred income tax (benefit) expense</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(557</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>206</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>Changes in operating assets and liabilities:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Accounts receivable</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(3,339</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(2,804</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Inventories</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(7,601</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(7,615</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Prepaid expenses and other current assets</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>435</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(737</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Accounts payable</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>316</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>4,918</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Accrued payroll and employee benefits</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>504</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>1,030</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Customer deposits</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>660</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>511</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;&#160;&#160;Other accrued liabilities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>934</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>298</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                      <div>&#160;&#160;&#160;&#160;&#160;Income taxes payable</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>346</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>151</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 2px;">
                      <div>Net cash (used in) provided by operating activities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(183</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>3,296</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                      <div>Cash flows from investing activities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Purchase of property, plant and equipment</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(1,504</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(551</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Proceeds from disposal of property, plant and equipment</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>50</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>81</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Purchase of marketable securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(11,543</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(6,059</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Proceeds from disposal of marketable securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>11,245</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>6,150</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Increase in fixed deposits maturing over three months</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(1,654</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(1,917</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                      <div>&#160;&#160;&#160;Increase in fixed deposits maturing over twelve months</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(26</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(427</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 2px;">
                      <div>Net cash used in investing activities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(3,432</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(2,723</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 76.78%;">
                      <div style="font-family: 'Times New Roman';">Cash flows from financing activities</div>
                      <div style="font-family: 'Times New Roman';">&#160;&#160;&#160;&#160;&#160;&#160;&#160;Dividends paid</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(3,186</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(2,864</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 2px;">
                      <div>&#160;&#160;&#160;Exercise of stock options</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>43</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 2px;">
                      <div>Net cash used in financing activities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(3,143</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>(2,864</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div>)</div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                      <div>Net decrease in cash and cash equivalents</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(6,758</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>(2,291</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">
                      <div>)</div>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 2px;">
                      <div>Cash and cash equivalents, beginning of year</div>
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                      <div>20,223</div>
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                      <div>22,514</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%; padding-bottom: 4px;">
                      <div>Cash and cash equivalents, end of year</div>
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                      <div>13,465</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 4px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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                      <div>20,223</div>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 76.78%;">
                      <div>Supplementary disclosures of cash flow information:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
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                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>Cash paid during the year for:</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%;">
                      <div>&#160;&#160;&#160;Interest</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>-</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%;">
                      <div>-</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-left: 9pt; width: 76.78%; padding-bottom: 4px;">
                      <div>&#160;&#160;&#160;Income taxes</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div>68</div>
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                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.08%; border-bottom: 4px double rgb(0, 0, 0);">
                      <div>236</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0);">&#160;</td>
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            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
              <div id="DSPFPageBreak" style="page-break-after: always;">
                <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
            </div>
            <font style="font-size: 10pt;"> </font>
            <div><font style="font-size: 10pt;"> </font>
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DESWELL INDUSTRIES, INC.<br>
                NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)<br>
                (U.S. dollars in thousands except per share data)</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="font-family: 'Times New Roman', serif; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">&#160;1.&#160;&#160;&#160;&#160;&#160;&#160;<u>Management&#8217;s Statement</u></font></div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">In the opinion of Management, the accompanying unaudited financial statements contain all adjustments (all of which are normal and
                recurring in nature) necessary to present fairly the financial position of Deswell Industries, Inc. (the &#8220;Company&#8221;) at March 31, 2022 and March 31, 2021; the results of operations for the six months and year ended March 31, 2022 and March
                31, 2021; and the cash flows for the year ended March 31, 2022 and 2021.&#160;&#160;The notes to the Consolidated Financial Statements contained in the Form 20-F Annual Report filed on July 23, 2021 under the Securities Exchange Act of 1934 should be
                read in conjunction with these Consolidated Financial Statements.</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">COVID-19 Considerations</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">As the global epidemic trend continues to stabilize, travelling restrictions have been lifted by some countries. However, the PRC
                government is still adopting a zero-COVID policy to prevent any spread of the coronavirus in the community. It resulted some major cities in China being under full or partial lockdowns or district-based controls.</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">Though the Company&#8217;s two principal manufacturing plants are not located in the cities under lockdowns, our staff are required to be
                quarantined in designated hotels for 14 to 21 days when they travel from Hong Kong to the PRC cities.</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">These border entry restrictions create challenges for productivity and connectivity, and could affect our ability to enhance, develop,
                and support existing products, detect and prevent production deficiencies, as well as exploring new business opportunities.&#160; The Company is complying with the health and safety protocols established by the government and has taken steps to
                safeguard the employees and business operations.&#160; These steps include well-planned travel arrangements among the Company&#8217;s management team, actively cleaning and sanitizing open public areas to ensure the continuity and smooth supervision
                over plant production and administration under pandemic conditions.</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">During the year ended March 31, 2022 the Company did not experience a significant negative impact from COVID-19 on its operations,
                capital and financial position. We did not record material asset impairments, inventory charges or bad debt provision related to COVID-19 during the year ended March 31, 2022. We will continue to evaluate the nature and extent of the impact
                of the COVID-19 outbreak on our financial condition, results of operations and cash flows.</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">2.&#160; &#160; &#160;&#160; <u>Marketable securities and other securities investments</u></div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <div style="text-align: justify; margin-left: 27pt; font-family: 'Times New Roman'; font-size: 10pt;">Marketable securities and other securities investments include debt and equity securities of which the aggregate fair value, unrealized gain
                (loss) and cost are as follows:</div>
              <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
              <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z1fdc276afb8246fca5c8f482e18fe8d6" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" colspan="7" style="vertical-align: bottom; font-family: 'Times New Roman'; border-bottom: #000000 solid 2px;">
                      <div style="text-align: center; font-weight: bold;"> <br>
                      </div>
                      <div style="text-align: center; font-weight: bold;">March 31, 2022</div>
                      <div style="text-align: center; font-weight: bold;"> <br>
                      </div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" style="vertical-align: middle; text-align: center;">
                      <div style="font-family: 'Times New Roman'; font-weight: bold;"><u> Cost</u></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="text-align: center; font-weight: bold;">Gross </div>
                      <div style="text-align: center; font-weight: bold;">Unrealized </div>
                      <div style="text-align: center; font-weight: bold;">gain</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; text-align: center; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" style="vertical-align: middle; font-family: 'Times New Roman'; text-align: center;">
                      <div style="font-weight: bold;"><u>Fair value</u></div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman';">
                      <div style="font-weight: bold;">Marketable securities</div>
                    </td>
                    <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                    <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom;">&#160;</td>
                  </tr>
                  <tr>
                    <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman'; width: 66.67%; padding-bottom: 2px;">
                      <div>&#160;&#160;&#160;&#160;Equity securities</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-weight: bold; text-align: center;">$24,096</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-weight: bold; text-align: center;">$403</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; padding-bottom: 2px;">&#160;</td>
                    <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 2px solid rgb(0, 0, 0);">
                      <div style="font-weight: bold; text-align: center;">$24,499</div>
                    </td>
                    <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="font-family: 'Times New Roman'; vertical-align: bottom; width: 1.04%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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            <font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font></div>
          <font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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            <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z8863f11631c54f2abe1b2cd746d702c8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; padding-bottom: 2px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="7" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div style="text-align: center; font-weight: bold;"> <br>
                    </div>
                    <div style="text-align: center; font-weight: bold;">March 31, 2021</div>
                    <div style="text-align: center; font-weight: bold;"> <br>
                    </div>
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                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; text-align: center; font-family: 'Times New Roman';">
                    <div style="font-weight: bold;"><u> Cost</u></div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom;">
                    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Gross </div>
                    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;">Unrealized </div>
                    <div style="text-align: center; font-family: 'Times New Roman'; font-weight: bold;"><u>(loss)</u></div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="text-align: center; vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" style="vertical-align: middle; text-align: center; font-family: 'Times New Roman';">
                    <div style="font-weight: bold;"><u>Fair value</u></div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
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                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; font-family: 'Times New Roman';">
                    <div style="font-weight: bold;">Marketable securities</div>
                  </td>
                  <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 66.67%; padding-bottom: 4px; font-family: 'Times New Roman';">
                    <div>&#160;&#160;&#160;&#160;Equity securities</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div style="font-weight: bold; text-align: center;">$22,842</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div style="font-weight: bold; text-align: center;">$(469)</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div style="font-weight: bold;"><br>
                    </div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1.04%; padding-bottom: 4px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9.34%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div style="font-weight: bold; text-align: center;">$22,373</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1.04%; border-bottom: 4px double rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
                </tr>

            </table>
            <div style="font-family: 'Times New Roman', serif; font-size: 11pt; font-weight: bold;"> <font style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
              </font></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">Marketable Securities</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company acquired equity securities listed on the Hong Kong Stock Exchange and Australian Securities Exchange. These securities are recorded at fair value
              based on quoted market prices.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Unrealized income from these marketable securities for the six months ended March 31, 2022 is included in the non-operating income of the consolidated statement
              of operations and comprehensive income.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">During the second half of fiscal 2022, there was a realized gain of $420 from the sale of marketable securities.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
            </div>
            <div style="font-family: 'Times New Roman', serif; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">3.&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Inventories</u></font></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z9eeba29273ce43428b1d22113c6103ce" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="3" style="vertical-align: top; font-family: 'Times New Roman';">
                    <div style="text-align: center;">March 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="3" style="vertical-align: top; font-family: 'Times New Roman';">
                    <div style="text-align: center;">March 31,</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="3" style="vertical-align: top; font-family: 'Times New Roman';">
                    <div style="text-align: center;"> 2022</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="3" style="vertical-align: top; font-family: 'Times New Roman';">
                    <div style="text-align: center;">2021</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" rowspan="1" colspan="1" style="vertical-align: top; padding-left: 9pt; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" rowspan="1" colspan="3" style="vertical-align: top; font-family: 'Times New Roman'; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" rowspan="1" colspan="3" style="vertical-align: top; font-family: 'Times New Roman'; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" rowspan="1" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman'; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; font-family: 'Times New Roman';">
                    <div>&#160;&#160; Inventories by major categories :</div>
                  </td>
                  <td valign="bottom" colspan="3" style="vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" colspan="3" style="vertical-align: middle; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; width: 76%; font-family: 'Times New Roman';">
                    <div>&#160;&#160; Raw materials</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">$<br>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">
                    <div><br>
                    </div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';">
                    <div>16,970</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';">
                    <div>11,554</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; width: 76%; font-family: 'Times New Roman';">
                    <div>&#160;&#160;&#160;Work in progress</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';">
                    <div>3,904</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman';">
                    <div>2,646</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; width: 76%; padding-bottom: 2px; font-family: 'Times New Roman';">
                    <div>&#160;&#160;&#160;Finished goods</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div>2,945</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div>1,993</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
                </tr>
                <tr>
                  <td valign="bottom" colspan="1" style="vertical-align: top; padding-left: 9pt; width: 76%; padding-bottom: 2px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';">$<br>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div><br>
                    </div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">
                    <div>23,819</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; font-family: 'Times New Roman';">&#160;</td>
                  <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; padding-bottom: 2px;">
                    <div>$</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; font-family: 'Times New Roman'; padding-bottom: 2px;">
                    <div>16,193</div>
                  </td>
                  <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="vertical-align: bottom; width: 1%; font-family: 'Times New Roman'; padding-bottom: 2px;">&#160;</td>
                </tr>

            </table>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="font-family: 'Times New Roman', serif; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">4.&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Earnings Per Share</u></font></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">The basic net income per share and diluted net income per share are computed in accordance with ASC No. 260, "Earnings Per Share" (formerly
              the SFAS No.128 &#8220;Earnings Per Share&#8221;).</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">The basic net income per share is computed by dividing income available to common holders by the weighted average number of common shares
              outstanding during the period.&#160;&#160;Diluted net income per share gives effect to all potentially dilutive common shares outstanding during the period.&#160;&#160;</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">The weighted average number of common shares outstanding is adjusted to include the number of additional common shares that would have been
              outstanding if the potentially dilutive common shares had been issued.&#160;&#160;In computing the dilutive effect of potential common shares, the average stock price for the period is used in determining the number of treasury shares assumed to be
              purchased with the proceeds from the exercise of options.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; margin-left: 26.35pt; font-family: 'Times New Roman'; font-size: 10pt;">The net income for the six months ended March 31, 2022 and 2021 were both from the Company&#8217;s continuing operations.</div>
          </div>
          <font style="font-size: 10pt;"> <font style="font-family: 'Times New Roman';"> </font></font>
          <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
            <div id="DSPFPageBreak" style="page-break-after: always;">
              <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
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          <div><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font>
            <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">DESWELL INDUSTRIES, INC.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;">MANAGEMENT DISCUSSION AND ANALYSIS OF FINANCIAL<br>
              CONDITION AND RESULTS OF OPERATIONS</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div><font style="font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Results of Operations</u></font><font style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
                <br>
                <u>General</u> <br>
              </font></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company&#8217;s revenues are derived from the manufacture and sale of (i) injection-molded plastic parts and components, and (ii) electronic products and
              subassemblies of audio equipment.&#160;&#160;The Company carries out all of its manufacturing operations in southern China, where it is able to take advantage of the lower overhead costs and less expensive labor rates as compared with Hong Kong.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><u>Six Months Ended March 31, 2022 Compared to Six Months Ended March 31, 2021</u></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman', serif; font-size: 11pt;"><font style="font-family: 'Times New Roman'; font-size: 10pt;">Net Sales - The Company's net sales for the six months ended March 31, 2022 were
                $45,708,000, an increase of $8,512,000 or 22.9% as compared to $37,196,000 in the corresponding period in fiscal 2021. The increase was related to an increase of $1,807,000 in our plastic segment, and an increase of $6,705,000 in the
                electronic segment respectively, as compared with the respective net sales from these segments in the corresponding period of the prior fiscal year.</font></div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
            </div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The increase in net sales in the plastic segment was mainly related to increase in orders of $4,577,000 from a new customer for robotic mops and vacuum cleaners,
              offsetting decreases in orders of $2,028,000 for plastic tool boxes, gardening tool boxes and accessories, as well as of $951,000 for printers and motor vehicle products, such as plastic brakes or speed selector plates from other existing
              customers.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The revenue increase in the electronic segment was mainly due to increases in orders of $4,168,000 from existing customers for home entertainment products and
              loud speakers, as well as of $2,294,000 for digital audio work stations from other existing customers.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Gross Profit - Gross profit for the second half of fiscal 2022 was $7,532,000, representing a gross profit margin of 16.5%. This is compared to the overall gross
              profit and gross profit margin of $7,571,000 or 20.4% for the second half of fiscal 2021.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Gross profit in the plastic segment for the six months ended March 31, 2022 was $2,478,000 or 19.2% of net sales, as compared to $2,893,000 or 26.0% of net sales
              for the same period in the prior fiscal year.&#160; The decrease in gross margin for the plastic segment was mainly due to the increase in the cost of raw materials, when compared with the same period of last year.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">During the six months ended March 31, 2022, gross profit in the electronic segment increased by $376,000 to $5,054,000 as a result of increased sales revenue
              during the second half of fiscal 2022.&#160; However, gross margin decreased to 15.4% from 17.9%, as a percentage of net sales from the same period of last fiscal year. The increase in gross margin was mainly attributed to the increase in the cost
              of the primary materials, resulting from the shortage in supply of the semi-conductor chips, as compared with the same period of last fiscal year.</div>
            <div style="font-size: 10pt;"><br>
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            <div style="font-size: 10pt;">Selling, General and Administrative Expenses - SG&amp;A expenses for the six months ended March 31, 2022 were $5,791,000 or 12.7% of total net sales, as compared to $5,590,000 or 15.0% of total net sales for the
              six months ended March 31, 2021. <br>
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            <div style="text-align: justify; font-family: 'Times New Roman',serif; font-size: 10pt;">Corporate expenses increased by $103,000 to $817,000 for the six months ended March 31, 2022 as compared to $714,000 for the same period ended March 31,
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          </div>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">SG&amp;A expenses in the plastic segment increased by $13,000 to $2,309,000 or 17.9% of net sales for the second half of fiscal 2022, compared to $2,296,000 or
              20.6% of net sales for the corresponding period in fiscal 2021. In terms of total SG&amp;A expense, the increase was due to an increase of $19,000 in local government taxes and charges, as compared with the same period in the prior fiscal
              year.&#160; However, the SG&amp;A expense as a percentage of sales was relatively lower than fiscal 2021 as total sales revenues increased during the second half of fiscal 2022.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">SG&amp;A expenses in the electronic segment increased by $85,000 to $2,665,000 or 8.1% of net sales for the six months ended March 31, 2022, compared to
              $2,580,000 or 9.9% of net sales for the corresponding period in fiscal 2021. The increase was primarily related to an increase of $39,000 in local government taxes and charges, of $15,000 in audit fees and $7,000 in utility charges, when
              compared to the corresponding period in the prior fiscal year.&#160; As total sales revenues increased during the second half of fiscal 2022, the SG&amp;A expense as a percentage of sales in fiscal 2022 was relatively lower than that in fiscal
              2021.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other Income (Expense) - Other expense was $37,000 for the six months ended March 31, 2022, as compared to other income of $321,000 in the corresponding six
              months of the prior fiscal year.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On a segment basis, other expense attributable to the plastic segment for the six months ended March 31, 2022 was $53,000, as compared to other income of
              $471,000 for the same period in the prior fiscal year. The decrease in other income was mainly due to an exchange loss of $13,000, a provision of $15,000 for doubtful debts and a loss of $26,000 from the disposal of fixed assets during the
              second half of fiscal 2022, as compared to an exchange gain of $448,000 and a gain of $29,000 from disposal of fixed assets during the same period of fiscal 2021.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;"><br>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other income attributable to the electronic segment for the six months ended March 31, 2022 was $16,000, as compared with other expenses of $150,000 for the
              corresponding period in the prior fiscal year. The increase in other income was mainly due to a gain of $138,000 from sales of materials and others, offsetting an exchange loss of $124,000 during the six months ended March 31, 2022, as
              compared to an exchange loss of $327,000, offsetting gains of $134,000 from sales of materials and others, and a reversal of provisions for $40,000 from doubtful debts during the same period of last fiscal year.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Operating Income - Operating income was $1,704,000 for the six months ended March 31, 2022, as compared to operating income of $2,302,000 in the corresponding
              six months in the prior fiscal year.&#160;&#160;</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Corporate expenses of $817,000 and $714,000 were incurred during the second half of fiscal 2022 and 2021, respectively.</div>
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              $1,068,000 in the corresponding period in fiscal 2021.&#160;&#160;&#160;The decrease in operating income in the plastic segment was mainly due to the decreases in profit margin and other income as described above.</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The electronic segment reported operating income of $2,405,000 in the six months ended March 31, 2022, compared to operating income of $1,948,000 in the
              corresponding period in fiscal 2021.&#160;&#160;The increase in operating income was mainly due to an increase in sales, lower SG&amp;A expense as a percentage of sales, and an increase in other income as described above.</div>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Non-Operating Income &#8211; Non-operating income for the six months ended March 31, 2022 was $2,020,000, as compared to a non-operating income of $4,641,000 in the
              corresponding period in fiscal 2021.&#160;&#160;This was primarily due to decreases of $2,510,000 in unrealized gains of marketable securities, offsetting increases of $140,000 from realized gain on sale of marketable securities and of $186,000 from
              rental income during the six months ended March 31, 2022, as compared to the same six months of the prior fiscal year.</div>
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            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Income Taxes &#8211; Income tax for the six months ended March 31, 2022 represented current tax expense of $195,000 and a deferred tax benefit of $533,000, as compared
              to current tax expense of $160,000 and a deferred tax provision of $84,000 in the corresponding six months of the prior fiscal year.&#160;&#160;</div>
            <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
            <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On a segment basis, there was current tax expense of $41,000 and a deferred tax benefit of $274,000 in the plastic segment for the six months ended March 31,
              2022, as compared to a current tax expense of $38,000 and a deferred tax provision of $84,000 during the year-ago six months.&#160; In the electronic segment, there was current tax expense of $154,000 and a deferred tax benefit of $259,000 for the
              six months ended March 31, 2022, as compared to current tax expense of $122,000 for the corresponding six months of fiscal 2021.</div>
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            <div><font style="font-size: 10pt;"> </font>
              <div style="text-align: justify; font-family: 'Times New Roman',serif; font-size: 10pt;">Net Income &#8211; The Company had a net income of $4,062,000 for the six months ended March 31, 2022, as compared to net income of $6,699,000 for the six
                months ended March 31, 2021.&#160; The decrease in net income for the second half of fiscal 2022 was mainly attributed to decreases in gross margin and non-operating income as described above.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net income for the plastic segment for the six months ended March 31, 2022 totaled $2,538,000, as compared to net income of $4,994,000 for the corresponding
                six months in fiscal 2021.&#160;The decreased net income in the second six months of fiscal 2022 for the plastic segment was mainly the result of decreases in gross margin and non-operating income, as described above.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net income for the electronic segment for the six months ended March 31, 2022 was $2,341,000, compared to net income of $2,419,000 for the corresponding six
                months of fiscal 2021.&#160;&#160;The decrease in net income in the second half of fiscal 2022 for the electronic segment was mainly attributable to decreases in non-operating income as described above.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;"><u>Year Ended March 31, 2022 Compared to Year Ended March 31, 2021</u></div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net Sales - The Company's net sales for the year ended March 31, 2022 were $85,490,000, an increase of $20,604,000 or 31.8% as compared to $64,886,000 in the
                corresponding period in fiscal 2021. The increase was related to increases in sales revenues of $2,990,000 in our plastic segment, and of $17,614,000 in our electronic segment, respectively, as compared with the respective net sales from
                these segments in the corresponding period of the prior fiscal year.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The revenue increase in the plastic segment was mainly due to an increase in orders of $5,125,000 for robotic mops and vacuum cleaners for automatic floor
                cleaning stations from a new customer, and of $1,238,000 for office equipment, and tooling products, offsetting a decrease in orders of $2,050,000 for plastic and gardening tool boxes, and other gardening tool accessories, as well as a
                decrease of $1,138,000 for motor vehicle products and telephone equipment from other existing customers.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The revenue increase in the electronic segment was mainly due to an increase of $8,252,000 in orders for home entertainment products, and $7,752,000 in orders
                for professional audio instruments of mixing consoles and digital audio workstations from other existing customers.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Gross Profit - Gross profit for the year ended March 31, 2022 was&#160;$13,952,000, representing a gross profit margin of 16.3%. This is compared with the overall
                gross profit and gross profit margin of $13,166,000 or 20.3% for the year ended March 31, 2021.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Gross profit in the plastic segment decreased by $1,136,000 to $3,545,000 or 15.5% of net sales for the year ended March 31, 2022, as compared to $4,681,000 or
                23.6% of net sales for the same period in the prior fiscal year.&#160; The decrease in gross profit and margin for the plastic segment was mainly due to the decreases in sales revenues from major clients with different product mix requiring
                higher raw materials consumption, as well as the relatively higher spoilage rate resulting from production of the products for the new customer.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Gross profit in the electronic segment increased by $1,922,000 to $10,407,000 or 16.6% of net sales for the year ended March 31, 2022, as compared to
                $8,485,000 or 18.8% of net sales in the prior fiscal year. The gross margin decrease is attributed to increases in raw materials cost as a result of the continuing scarcity of and surging demand from the automotive industry for primary
                materials such as semi-conductor chips, when compared with last fiscal year.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Selling, General and Administrative Expenses - SG&amp;A expenses for the year ended March 31, 2022 slightly increased by $829,000 to $11,139,000 or 13.0% of
                total net sales, as compared to $10,310,000 or 15.9% of total net sales for the year ended March 31, 2021.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Corporate expenses slightly increased by $84,000 to $1,395,000 for the year ended March 31, 2022, as compared to $1,311,000 for the year ended March 31, 2021
                related to a slight increase in professional fees.</div>
              <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
              <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">SG&amp;A expenses in the plastic segment increased by $103,000 to $4,302,000 or 18.8% of net sales for the year ended March 31, 2022, compared to $4,199,000 or
                21.1% of net sales for fiscal 2021. The increase was primarily related to increases of $70,000 in selling expense, and of $43,000 in local government taxes and charges, as compared with the same period in the prior fiscal year.</div>
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              <div><font style="font-size: 10pt;"> </font>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">SG&amp;A expenses in the electronic segment increased by $642,000 to $5,442,000 or 8.7% of net sales for the year ended March 31, 2022, compared to
                  $4,800,000 or 10.7% of net sales for fiscal 2021. The increase was mainly due to increases of $500,000 in staff costs and welfare, of $68,000 in audit, legal and professional fees, as well as $84,000 in local government taxes and charges,
                  when compared to prior fiscal year.&#160; However, SG&amp;A expense as a percentage of sales was relatively lower than fiscal 2021 as total sales revenues increased during fiscal 2022.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other Income, Net - Other income was $74,000 for the year ended March 31, 2022, as compared to other income of $405,000 in the prior fiscal year.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On a segment basis, other income attributable to the plastic segment for the year ended March 31, 2022 was $15,000, as compared to other income of $614,000
                  for the prior fiscal year. Other income was lower in fiscal 2022 mainly due to a reversal of provision of $148,000 for doubtful receivables, and a gain of $57,000 on sales of materials, offsetting an exchange loss of $165,000 during
                  fiscal 2022, as compared to an exchange gain of $1,003,000 and a provision of $438,000 for doubtful debts in fiscal 2021.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Other income attributable to the electronic segment for the year ended March 31, 2022 was $59,000, as compared with other expense of $209,000 for the prior
                  fiscal year. The increase in other income was mainly due to a decrease of $248,000 in exchange loss and a gain of $92,000 on sales of materials as compared to last fiscal year, offsetting a reversal of $40,000 of provision for doubtful
                  debts during the year ended March 31, 2021.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Operating Income - Operating income was $2,887,000 for the year ended March 31, 2022, as compared to operating income of $3,261,000 in the prior fiscal
                  year.&#160;&#160;</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Corporate expenses of $1,395,000 and $1,311,000 were incurred during the fiscal year of 2022 and 2021, respectively.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On a segment basis, the operating loss in the plastic segment was $742,000 in the year ended March 31, 2022, as compared to operating income of $1,096,000 in
                  fiscal 2021.&#160;The decrease in operating income in the plastic segment was mainly due to reduced gross profit and margin, as well as decrease in other income as described above.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The electronic segment reported operating income of $5,024,000 in the year ended March 31, 2022, compared to operating income of $3,476,000 in fiscal
                  2021.&#160;&#160;The increase in operating income was mainly due to the increase in sales, lower SG&amp;A expense as a percentage of sales, and an increase in other income, as described above.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Non-Operating Income &#8211; Non-operating income for the year ended March 31, 2022 was $5,308,000, as compared to a non-operating income of $5,445,000 in last
                  fiscal year.&#160;&#160;The slight decrease in non-operating income was primarily due to increases of $741,000 from realized gain on sale of marketable securities, and $182,000 from rental income, offsetting a decrease of $1,138,000 in unrealized
                  gain on marketable securities, as compared to fiscal 2021.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Income Taxes &#8211; Current tax expense for the year ended March 31, 2022 was $402,000. The Company had a deferred tax benefit of $567,000. This is compared to a
                  current tax expense of $322,000 and a deferred tax provision of $153,000 in last fiscal year.&#160;&#160;</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">On a segment basis, there was current tax expense of $69,000 and a deferred tax benefit of $308,000 in the plastic segment for the year ended March 31, 2022,
                  as compared to a current tax expense of $60,000 and a deferred tax provision of $153,000 during the last fiscal year.&#160; In the electronic segment, there was current tax expense of $333,000 and a deferred tax benefit of $259,000 for the
                  year ended March 31, 2022, as compared to current tax expense of $262,000 in fiscal 2021.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net Income &#8211; The Company had net income of $8,360,000 for the year ended March 31, 2022, as compared to net income of $8,231,000 for the year ended March 31,
                  2021.&#160;&#160; The increase in net income was mainly due to the increase in sales, offsetting by the decrease in gross margin as described above.</div>
                <div style="font-size: 10pt; font-family: 'Times New Roman';">&#160;</div>
                <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net income for the plastic segment for the year ended March 31, 2022 was $5,453,000, as compared to net income of $6,016,000 for fiscal 2021.&#160;&#160;The decrease
                  in net income in the plastic segment was mainly due to a decrease in gross margin as described above.</div>
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                <div><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font>
                  <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">Net income for the electronic segment for the year ended March 31, 2022 was $4,302,000, as compared to net income of $3,526,000 for fiscal 2021.&#160;&#160;The
                    increase in net income in the electronic segment was mainly attributable to an increase in sales, a lower SG&amp;A expense as percentage of sales than prior fiscal year, and an increase in other income as described above.</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
                  <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt; font-weight: bold;"><u>Liquidity and Capital Resources</u></div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
                  <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">The Company relies primarily upon internally generated funds to finance its operations and investments.</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
                  <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of March 31, 2022, the Company had working capital of $63,976,000, as compared to $57,472,000 at March 31, 2021.&#160;&#160; The Company has generated sufficient
                    funds from its operating activities to finance its operations and there is little need for external financing.&#160;&#160;The Company had no short-term borrowings or long-term borrowings as of March 31, 2022.&#160;&#160;</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
                  <div style="text-align: justify; font-family: 'Times New Roman'; font-size: 10pt;">As of March 31, 2022, the Company had cash and cash equivalents of $13,465,000, as compared to $20,223,000 at March 31, 2021.&#160;&#160;During the year ended March
                    31, 2022, net cash used in operating activities was $183,000.&#160; Net cash used in investing activities was $3,432,000, which is mainly accounted for by cash used in the purchases of fixed assets of $1,504,000 and of marketable securities
                    of $11,543,000, as well as increases of $1,654,000 in fixed deposits maturing over three months, and $26,000 in time deposits maturing over twelve months, offsetting proceeds of $11,245,000 from the sale of marketable securities and of
                    $50,000 from the disposal of fixed assets during the year ended March 31, 2022.&#160; Net cash used in financing activities was comprised mainly of $3,186,000 in dividend payments in the year ended March 31, 2022.</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">&#160;</div>
                  <div style="font-family: 'Times New Roman'; font-size: 10pt;">As of March 31, 2022, the Company had no general banking facilities.&#160;&#160;The Company expects that working capital requirements and capital additions will be funded through
                    internally generated funds.</div>
                  <div style="font-size: 10pt;">&#160;</div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
