Asetek reported fourth-quarter revenue of $9.5 million compared with $18.1 million in the same period of 2021. Revenue in the full year 2022 was $50.7 million compared with $79.8 million in the same period last year. The change from prior year for both periods reflects a decline in shipments of liquid cooling products due to the continued challenging business climate.

Gross margin was 41% for the fourth quarter of 2022 compared with 42% in the same period of 2021. The margin in the fourth quarter of 2022 reflects a change in the product mix partly offset by a stronger U.S. dollar, when compared with the same period of prior year. Gross margin for the full year 2022 was 41% compared with 42% in 2021.