Deswell Industries, Inc. (NASDAQ:DSWL) today announced its unaudited financial results for the first six months of fiscal 2023, ended September 30, 2023.

Net sales for the six months ended September 30, 2023 were $37.7 million, a decrease of 15.1% compared to net sales of $44.4 million for the six months ended September 30, 2022. Net sales decreased by 24.6% to $6.3 million in the plastic segment and by 12.9% to $31.4 million in the Company's electronic segment.

Total gross margin increased to 19.5% of net sales during the six months ended September 30, 2023, as compared to 16.0% of net sales in the same period last year. Gross profit margin in the plastic segment increased to...