DSWL - Deswell Announces Fourth Quarter 2015 Results (USD 0.035)

Company: Deswell Industries
Stock Name: DSWL
Amount: USD 0.035
Announcement Date: 22/06/2015
Record Date: 24/06/2015

Dividend Detail:

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MACAO--(BUSINESS WIRE)--Deswell Industries, Inc. (Nasdaq:DSWL) today announced its financial results for the fiscal fourth quarter ended March 31, 2015.

Net sales for the fourth quarter ended March 31, 2015 were $8.1 million, an increase of 2.3% compared to net sales of $7.9 million for the same quarter ended March 31, 2014. Net sales increased by 29.6% to $4.5 million in the Company's plastic segment and decreased by 19.3% to $3.6 million in the electronic and metallic segment. The operating loss in the fourth quarter was $0.7 million, compared to an operating loss of $3.0 million for the same quarter of fiscal 2014.

Total gross margin increased to 11.5% in the fourth quarter ended March 31, 2015 compared to 2.5% in the same quarter last year. Gross profit margin in the plastic segment increased to 22.8% of net sales for the fourth quarter of fiscal 2015 compared to 13.1% of net sales for the same quarter of last fiscal year. The increase in gross profit and margin in the plastic segment was mainly due to decreases in raw materials cost and depreciation expense as a percentage of sales, offsetting an increase in labor cost and factory overheads. The improvement in gross loss and margin in the electronic and metallic segment was mainly attributed to decreases in raw materials cost, offsetting an increase in labor cost as a percentage of sales.

The Company reported net income of $0.01 million for the fourth quarter ended March 31, 2015 compared to a net loss of $3.1 million for the quarter ended March 31, 2014. Deswell reported basic and diluted income per share of $0.00 for the fourth quarter of fiscal 2015 (based on 16,056,000 and 16,056,000 weighted average shares outstanding, respectively), compared to basic and diluted loss per share of ($0.19) (based on 16,257,000 and 16,257,000 weighted average shares outstanding, respectively), for the quarter ended March 31, 2014.

Net sales for the year ended March 31, 2015 were $38.1 million, a decrease of 7.0%, compared to sales of $40.9 million for the corresponding period in fiscal 2014. Operating loss for the year ended March 31, 2015 was $5.1 million, compared to operating loss of $7.2 million for fiscal 2014. The Company reported a net loss of $2.8 million in fiscal 2015, compared to net loss of $7.5 million for the year ended March 31, 2014. Deswell reported basic and diluted net loss per share of ($0.17) for fiscal 2015, (based on 16,056,000 and 16,056,000 weighted average share outstanding, respectively), compared to basic and diluted loss per share of ($0.46) (based on 16,186,000 and 16,186,000 weighted average shares outstanding, respectively), for the prior fiscal year.

The Company's balance sheet remained strong at the end of the fourth quarter of fiscal 2015, with $14.3 million in cash and cash equivalents at March 31, 2015 compared to $23.2 million at March 31, 2014. Working capital totaled $45.9 million as of March 31, 2015, versus $50.9 million as of March 31, 2014. Furthermore, the Company has no long-term or short-term borrowings as of March 31, 2015.

Mr. Edward So, Chief Executive Officer, commented, "During the quarter we achieved a modest increase in revenues as a result of the continued efforts of our sales team to find new opportunities with our existing customers and to develop new customer relationships. We continue to focus on collaborating with our customers on new products, and while it's taken longer than anticipated to reach the launch date for some of these products, our increased involvement in R&D is shortening that process. We are making continuous efforts to control costs, and as a result we've seen a decrease in raw materials expense."

Fourth Quarter Dividends

The Company also announced that on June 22, 2015 its board of directors declared a cash dividend of $0.035 per share for the fiscal fourth quarter ended March 31, 2015. The dividend will be payable on July 16, 2015 to shareholders of record as of June 26, 2015.

About Deswell

Deswell manufactures injection-molded plastic parts and components, electronic products and subassemblies, and metallic products for original equipment manufacturers ("OEMs") and contract manufacturers at its factories in the People's Republic of China. 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 ("SMT") and finished products such as telephones, telephone answering machines, sophisticated studio-quality audio equipment and computer peripherals. The Company's customers include Vtech Telecommunications Ltd. and Lenbrook Industries, Ltd.

To learn more about Deswell Industries, Inc., please visit the Company's website at www.deswell.com.

Forward-Looking Statements

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 and metallic division in the coming year and our efforts to reduce overhead costs in our plastic division are forward-looking statements. 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.

For further information regarding risks and uncertainties associated with the Company's business, please refer to the "Risk Factors" section of Company'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.

All information in this release is made as of the date of this press release. Deswell undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in Deswell's expectations.

DESWELL INDUSTRIES, INC.
CONSOLIDATED BALANCE SHEET
( U.S. dollars in thousands)
					March 31,						March 31,
					2015						2014
ASSETS					(Unaudited)						(Audited)
Current assets :
	Cash and cash equivalents				$ 14,325						$ 23,278
	Fixed deposits maturing over three months				9,911						11,258
	Marketable securities (note 2)				9,803						5,303
	Available-for-sale securities (note 2)				1,676						1,643
	Accounts receivable, net				9,577						7,926
	Inventories (note 4)				10,828						11,012
	Prepaid expenses and other current assets				2,120						1,474
	Total current assets				58,240						61,894
Property, plant and equipment - net					36,598						38,742
Time deposit is maturing over twelve months					1,601						-
	Total assets				$ 96,439						$ 100,636
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
	Accounts payable				$ 3,348						$ 2,665
	Accrued payroll and employee benefits				4,228						4,391
	Customer deposits				2,450						1,780
	Other accrued liabilities				1,201						1,237
	Income taxes payable				345						262
	Deferred income tax liabilities				804						691
	Total current liabilities				12,376						11,026
Shareholders' equity
	Common shares nil par value - authorized 30,000,000 shares,
	shares issued and outstanding as of March 31, 2015 and
	March 31, 2014 - 16,056,239;				53,063						53,063
	Additional paid-in capital				5,492						5,293
	Accumulated other comprehensive income				5,378						5,345
	Retained earnings				20,130						25,909
	Total shareholders' equity				84,063						89,610
	Total liabilities and shareholders' equity				$ 96,439						$ 100,636

DESWELL INDUSTRIES, INC.
CONSOLIDATED STATEMENT OF OPERATIONS & COMPREHENSIVE INCOME (LOSS) (UNAUDITED) ( U.S. dollars in thousands, except per share data )
					Quarter ended														Year ended
					March 31,														March 31,
					2015							2014							2015						2014
Net sales					$ 8,126							$ 7,944							$ 38,077						$ 40,932
Cost of sales					7,192							7,745							34,641						37,788
Gross profit					934							199							3,436						3,144
Selling, general and administrative expenses					2,140							2,239							9,203						10,327
Other income (expense), net					463							(946)							613						(62)
Operating loss					(743)							(2,986)							(5,154)						(7,245)
Non-operating income, net					804							128							2,554						379
Income (Loss) before income taxes					61							(2,858)							(2,600)						(6,866)
Income taxes					48							263							208						624
Net income (loss) attributable to Deswell Industries, Inc.					$ 13							$ (3,121)							$ (2,808)						$ (7,490)
Other comprehensive income (loss)
Unrealized gain (loss) on available-for-sale securities					$ (12)							$ 99							$ 33						$ 57
Comprehensive income (loss) attributable to Deswell Industries, Inc.					$ 1							$ (3,022)							$ (2,775)						$ (7,433)
Net income (loss) per share attributable to
Deswell Industries, Inc.
Basic:
	Net income (loss) per share				$ 0.0008							$ (0.19)							$ (0.17)						$ (0.46)
	Weighted average common shares outstanding shares (in thousands)				16,056							16,257							16,056						16,186
Diluted:
	Net income (loss) per share				$0.0008							$(0.19)							$(0.17)						$(0.46)
	Weighted average number of shares outstanding (in thousands)				16,056							16,257							16,056						16,186

PNM - PNM Declares Preferred Dividend (USD 1.145)

Company: PNM Resources Inc
Stock Name: PNM
Amount: USD 1.145
Announcement Date: 19/06/2015
Record Date: 29/06/2015

Dividend Detail:

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ALBUQUERQUE, N.M.--(BUSINESS WIRE)--The Board of Directors of PNM, a subsidiary of PNM Resources (NYSE: PNM), has declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable July 15, 2015, to shareholders of record at the close of business July 1, 2015.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2014 consolidated operating revenues of $1.4 billion. Through its regulated utilities, PNM and TNMP, PNM Resources has approximately 2,707 megawatts of generation capacity and provides electricity to more than 753,000 homes and businesses in New Mexico and Texas. For more information, visit the company's website at www.PNMResources.com.

WSM - Williams-Sonoma, Inc. declares quarterly cash dividend (USD 0.35)

Company: Williams-Sonoma
Stock Name: WSM
Amount: USD 0.35
Announcement Date: 19/06/2015
Record Date: 22/07/2015

Dividend Detail:

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SAN FRANCISCO--(BUSINESS WIRE)--Williams-Sonoma, Inc. (NYSE: WSM) announced today that its Board of Directors has declared a quarterly cash dividend of $0.35 per common share. The dividend is payable on August 26, 2015 to stockholders of record as of the close of business on July 24, 2015. As of May 31, 2015, the Company had 91,553,769 shares of common stock outstanding.

Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing eight distinct merchandise strategies - Williams-Sonoma, Pottery Barn, Pottery Barn Kids, West Elm, PBteen, Williams-Sonoma Home, Rejuvenation, and Mark and Graham - are marketed through e-commerce websites, direct mail catalogs and 603 stores. Williams-Sonoma, Inc. currently operates in the United States, Canada, Australia and the United Kingdom, offers international shipping to customers worldwide, and has unaffiliated franchisees that operate stores in the Middle East and the Philippines.

ACU - Acme United Corporation Board Approves Cash Dividend (USD 0.09)

Company: Acme United Corporation.
Stock Name: ACU
Amount: USD 0.09
Announcement Date: 19/06/2015
Record Date: 29/06/2015

Dividend Detail:

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FAIRFIELD, Conn.--(BUSINESS WIRE)--The Board of Directors of Acme United Corporation (NYSE MKT: ACU) declared a cash dividend of 9 cents per share on its outstanding common stock. The dividend is payable on July 22, 2015 to stockholders of record on the close of business on July 1, 2015.

ACME UNITED CORPORATION is an innovative supplier of cutting devices, measuring instruments, and safety products for school, home, office, hardware and industrial use. Its leading brands include Westcott®, Clauss®, Camillus®, CUDA®, PhysiciansCare ®,Pac-Kit ® and First Aid Only®. For more information, visit www.acmeunited.com

Forward-looking statements in this report, including without limitation, statements related to the Company's plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including without limitation the following: (i) the Company's plans, strategies, objectives, expectations and intentions are subject to change at any time at the discretion of the Company; (ii) the Company's plans and results of operations will be affected by the Company's ability to manage its growth, and (iii) other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission.

ONEQ - Fidelity® Nasdaq Composite Index® Tracking Stock Fund Declares Distribution (USD 0.42)

Company: Nasdaq Composite Tracking Fidelity
Stock Name: ONEQ
Amount: USD 0.42
Announcement Date: 18/06/2015
Record Date: 19/06/2015

Dividend Detail:

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BOSTON--(BUSINESS WIRE)--Fidelity Investments® announced today that the Fidelity® Nasdaq Composite Index® Tracking Stock Fund (NASDAQ: ONEQ) will pay a quarterly dividend of $0.42 per share from net investment income. The dividend will be paid on June 25, 2015 to shareholders of record at the close of business on June 23, 2015. The ex-dividend date is June 19, 2015.

About Fidelity Investments
Fidelity's goal is to make financial expertise broadly accessible and effective in helping people live the lives they want. With assets under administration of $5.3 trillion, including managed assets of $2.1 trillion as of May 30, 2015, we focus on meeting the unique needs of a diverse set of customers: helping more than 24 million people invest their own life savings, nearly 20,000 businesses manage employee benefit programs, as well as providing nearly 10,000 advisory firms with technology solutions to invest their own clients' money. Privately held for nearly 70 years, Fidelity employs 41,000 associates who are focused on the long-term success of our customers. For more information about Fidelity Investments, visit https://www.fidelity.com/about.

Before investing, consider the ETF's investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

ETFs may trade at a discount to their NAV and are subject to the market fluctuations of their underlying investments.

Past performance is no guarantee of future results.

Current and future portfolio holdings are subject to risk.

Differences between the index and the ETF's portfolio, as well as costs and expenses, may cause differences in performance.

The ETF is managed by Fidelity Management & Research Company. NASDAQ is the listing market; licensor of the index and provides marketing services for the ETF.

Consistent with its investment objective, the ETF may hire or terminate money managers at any time without prior shareholder approval. ETF shares are not individually redeemable from the fund. Shares, other than Creation Units, may be sold only through a broker and may be subject to brokerage commissions.

NASDAQ®, NASDAQ Composite®, and NASDAQ Composite Index® are registered trademarks of The NASDAQ OMX Group, Inc. (which with its Affiliates are the "Corporations") and are licensed for use by Fidelity. The product(s) have not been passed on by the Corporations as to their legality or suitability. The product(s) are not issued, endorsed, or sold by the Corporations.
THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).

Fidelity, Fidelity Investments, Fidelity Investments and the Pyramid Design logo and ONEQ are registered service marks of FMR LLC.

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EPR - EPR Properties Declares Monthly Dividend for Common Shareholders and Quarterly Dividends for Preferred Shareholders (USD 0.3025)

Company: Entertainment Properties Trust
Stock Name: EPR
Amount: USD 0.3025
Announcement Date: 18/06/2015
Record Date: 26/06/2015

Dividend Detail:

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KANSAS CITY, Mo.--(BUSINESS WIRE)--EPR Properties (NYSE:EPR) today announced that its Board of Trustees has declared its monthly cash dividend to common shareholders. The dividend of $0.3025 per common share is payable July 15, 2015 to shareholders of record on June 30, 2015. This dividend represents an annualized dividend of $3.63 per common share, an increase of 6.1% over prior year and the Company's fifth consecutive year with an annual dividend increase.

The Company also declared quarterly dividends on its three outstanding issues of preferred stock:

• 5.75% Series C Cumulative Convertible Preferred (NYSE:EPRprC) dividend of $0.359375 per share payable July 15, 2015 to shareholders of record on June 30, 2015
• 9.00% Series E Cumulative Convertible Preferred Shares (NYSE:EPRprE) dividend of $0.5625 per share payable July 15, 2015 to shareholders of record on June 30, 2015
• 6.625% Series F Cumulative Redeemable Preferred (NYSE:EPRprF) dividend of $0.4140625 per share payable July 15, 2015 to shareholders of record on June 30, 2015

About EPR Properties

EPR Properties is a specialty real estate investment trust (REIT) that invests in properties in select market segments which require unique industry knowledge, while offering the potential for stable and attractive returns. Our total investments exceed $4.1 billion and our primary investment segments are Entertainment, Recreation and Education. We adhere to rigorous underwriting and investing criteria centered on key industry and property level cash flow standards. We believe our focused niche approach provides a competitive advantage, and the potential for higher growth and better yields. Further information is available at www.eprkc.com.

OC - Owens Corning Declares Second-Quarter 2015 Dividend (USD 0.17)

Company: Owens Corning Inc
Stock Name: OC
Amount: USD 0.17
Announcement Date: 18/06/2015
Record Date: 16/07/2015

Dividend Detail:

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TOLEDO, Ohio--(BUSINESS WIRE)--Owens Corning (NYSE: OC) today announced that its Board of Directors has declared a quarterly cash dividend of $0.17 per common share. The dividend will be payable on Aug. 4, 2015, to shareholders of record as of July 20, 2015.

Future dividend declarations will be made at the discretion of the Board of Directors and will be based on such factors as the company's earnings, financial condition, cash requirements, future prospects and other factors.

About Owens Corning

Owens Corning (NYSE: OC) develops, manufactures and markets insulation, roofing and fiberglass composites. Global in scope and human in scale, the company's market-leading businesses use their deep expertise in materials, manufacturing and building science to develop products and systems that save energy and improve comfort in commercial and residential buildings. Through its glass reinforcements business, the company makes thousands of products lighter, stronger and more durable. Ultimately, Owens Corning people and products make the world a better place. Based in Toledo, Ohio, Owens Corning posted 2014 sales of $5.3 billion and employs about 15,000 people in 26 countries. It has been a Fortune 500® company for 61 consecutive years. For more information, please visit www.owenscorning.com.

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are subject to risks, uncertainties and other factors that may cause actual results to differ materially from those projected in these statements. Such factors include, without limitation: economic and political conditions, including levels of residential and commercial construction activity; competitive and pricing factors; levels of global industrial production; demand for our products; relationships with key customers; industry and economic conditions that affect the market and operating conditions of our customers, suppliers or lenders; foreign exchange and commodity price fluctuations; our level of indebtedness; weather conditions; availability and cost of credit; availability and cost of energy and raw materials; issues involving implementation of new business systems; international economic and political conditions including new legislation or other governmental actions; our ability to use our net operating loss carry forwards; research and development activities and intellectual property protection; interest rate movements; labor disputes and litigation; uninsured losses; issues related to acquisitions, divestitures and joint ventures; achievement of expected synergies, cost reductions and/or productivity improvements; defined benefit plan funding obligations; and, factors detailed from time to time in the company's Securities and Exchange Commission filings. The information in this news release speaks as of June 18, 2015, and is subject to change. The company does not undertake any duty to update or revise forward-looking statements except as required by federal securities laws. Any distribution of this news release after that date is not intended and should not be construed as updating or confirming such information.

Owens Corning Investor Relations News