0001000096-12-000145.txt : 20121010 0001000096-12-000145.hdr.sgml : 20121010 20121010112605 ACCESSION NUMBER: 0001000096-12-000145 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20121010 FILED AS OF DATE: 20121010 DATE AS OF CHANGE: 20121010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BONSO ELECTRONICS INTERNATIONAL INC CENTRAL INDEX KEY: 0000846546 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS, NEC [3679] IRS NUMBER: 000000000 STATE OF INCORPORATION: K3 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-17601 FILM NUMBER: 121136915 BUSINESS ADDRESS: STREET 1: UNIT 1915-1916, 19/F, DELTA HOUSE STREET 2: 3 ON YIU STREET, SHEK MUN CITY: SHATIN STATE: K3 ZIP: 000000 BUSINESS PHONE: 01185226055822 MAIL ADDRESS: STREET 1: UNIT 1915-1916, 19/F, DELTA HOUSE STREET 2: 3 ON YIU STREET, SHEK MUN CITY: SHATIN STATE: K3 ZIP: 000000 6-K 1 bonso6k9282012.htm FORM 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

 

FORM 6-K

 

Report of Foreign Issuer

 

 

Pursuant to Rule 13a-16 or 15d-16 of

 

the Securities Exchange Act of 1934

 

 

For: October 10, 2012

 

BONSO ELECTRONICS

INTERNATIONAL INC.

(Translation of Registrant’s name into English)

 

 

 

1404, 14/F, Cheuk Nang Centre,

9 Hillwood Road, Tsimshatsui

Kowloon, Hong Kong

(Address of principal executive offices)

 

 

[Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.]

 

Form 20-F    X Form 40-F

 

 

[Indicate by check mark whether the Registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]

 

Yes _____ No ___X__

 

 

 

 

 

 

 
 

 

 

 

Exhibits

 

99.1 Press Release dated September 28, 2012

 

 

 

 

 

 

 

 

 

 

 

2

 

 

 

 

 
 

 

 

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

   
BONSO ELECTRONICS INTERNATIONAL, INC.
 (Registrant)
   
Date:  October 10, 2012 By: /s/ Albert So
Albert So, Chief Financial Officer and Secretary

 

 

 

 

 

 

 

 

 

 

 

EX-99.1 2 bonso6k9282012exh991.htm PRESS RELEASE

 

Exhibit 99.1

 

 

 

 

PRESS RELEASE

 

Bonso Electronics Reports Year End Results

 

HONG KONG, September 28, 2012 (Globe Newswire) -- Bonso Electronics International, Inc. (NASDAQ: BNSO), a designer and manufacturer of sensor based products, reported its financial results for the fiscal year ended March 31, 2012.

 

The company reported a net loss for the fiscal year ended March 31, 2012, of $0.9 million or $0.17 basic and diluted loss per share. Net sales for the fiscal year ended March 31, 2012 decreased 6.0% to $26.7 million from $28.4 million for the fiscal year ended March 31, 2011.

 

Anthony So, the Chairman of Bonso, stated, "Our operations in China continue to be affected by inflation, especially increase in labor costs due to the annual raise of minimum wage by the local government. However, we are pleased to announce that the gross margin as a percentage of revenue increased to approximately 14.6% during the fiscal year ended March 31, 2012, as compared to approximately 12.8% during the fiscal year ended March 31, 2011. The higher gross margin was the result of the reduced manufacturing cost due to increase in efficiency."

 

Mr. So said that, "We expect that demand for our products will continue to grow, and we are pleased to announce that the selling of a new Wi-Fi electronic scale is expected to contribute 15% extra revenue for this fiscal year ending March 31, 2013."

 

About Bonso Electronics

 

Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of electronic scales, weighing instruments, health care products and telecommunications products. Bonso products are manufactured in the People's Republic of China for customers primarily located in North America and Europe. Company services include product design and prototyping, production tooling, procurement of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. For further information, visit the company's web site at http://www.bonso.com.

 

This news release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as ``should,'' ``intends,'' ``is subject to,'' ``expects,'' ``will,'' ``continue,'' ``anticipate,'' ``estimated,'' ``projected,'' ``may,'' `` I or we believe,'' ``future prospects,'' or similar expressions. Forward-looking statements made in this press release, which relate to the reduction of losses and a positive impact upon our future operations as a result of the sale of assets involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update “forward-looking” statements.

 

-- Tables to Follow –

 

 

 

1

 

 

 

 
 

 

 

Consolidated Balance Sheets

(Expressed in United States Dollars)

 

   March 31
   2011  2012
   $ in thousands  $ in thousands
Assets          
           
Current assets          
Cash and cash equivalents   5,407    3,014 
Trade receivables, net   1,311    2,081 
Other receivables, deposits and prepayments   708    1,104 
Inventories   4,848    4,105 
Income tax recoverable   1,944    1,903 
 Current assets of discontinued operations   5    —   
           
Total current assets   14,223    12,207 
           
           
Other intangible assets, net   4,031    3,990 
           
Property, plant and equipment          
Buildings   9,719    9,948 
Construction-in-progress   1,801    5,264 
Plant and machinery   20,884    21,377 
Furniture, fixtures and equipment   3,146    3,260 
Motor vehicles   445    449 
           
    35,995    40,298 
 Less: accumulated depreciation and impairment   (32,437)   (33,327)
           
Property, plant and equipment, net   3,558    6,971 
           
Total assets   21,812    23,168 
           
Liabilities and stockholders’ equity          
           
Current liabilities          
           
Notes payable   1,333    1,870 
Accounts payable   2,729    5,032 
Accrued charges and deposits   2,199    2,347 
Income tax liabilities   24    44 
Current liabilities of discontinued operations   1,086    —   
           
Total current liabilities   7,371    9,293 
           
           
Income tax liabilities   2,595    2,595 
           
Deferred income tax liabilities   19    2 
           
Stockholders’ equity          
 Common stock par value $0.003 per share          
- authorized shares - 23,333,334          

- issued shares: 2011 and 2012- 5,577,639,

- outstanding shares: 2011 and 2012 – 5,246,903

   17    17 
 Additional paid-in capital   21,765    21,765 
 Treasury stock at cost: 2011 and 2012 - 330,736 shares   (1,462)   (1,462)
 Accumulated deficit   (10,932)   (11,834)
 Accumulated other comprehensive income   2,439    2,792 
           
    11,827    11,278 
           
           
Total liabilities and stockholders’ equity   21,812    23,168 
           

 

 

 

 

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Consolidated Statements of Operations and Comprehensive Loss

(Expressed in United States Dollars)

 

   Year ended March 31,
   2011  2012
   $ in thousands  $ in thousands
       
       
Net sales   28,387    26,682 
Cost of sales   (24,760)   (22,782)
           
Gross profit   3,627    3,900 
           
Selling expenses   (249)   (267)
Salaries and related costs   (2,716)   (2,526)
Research and development expenses   (334)   (312)
Administration and general expenses   (1,959)   (2,492)
Gain from liquidation of subsidiary   —      1,448 
           
Loss from operations   (1,631)   (249)
Interest income   6    7 
Interest expenses   (56)   (87)
Foreign exchange loss   (130)   (703)
Gain on disposal of property   155    —   
Gain on disposal of intangible assets   41    —   
Other income   184    132 
           
Loss before income taxes   (1,431)   (900)
Income tax expense   —      (2)
           
Loss from continuing operations   (1,431)   (902)
Loss from discontinued operations, net of tax   (129)   —   
           
Net loss   (1,560)   (902)
           
Other comprehensive income, net of tax:          
Foreign currency translation adjustments, net of tax   199    353 
           
Comprehensive loss   (1,361)   (549)
           
           
Loss per share          
           
Weighted average number of shares outstanding   5,246,903    5,246,903 
           
           
- basic and diluted          
 -Continuing operations   (0.27)   (0.17)
-Discontinued operations   (0.02)   —   
           
    (0.29)   (0.17)
           

 

 

The diluted net loss per share was the same as the basic net loss per share for the fiscal year ended Mar 31, 2011 and 2012 as all potential ordinary shares including the stock options and warrants are anti-dilutive and are therefore excluded from the computation of diluted net loss per share.

 

 

3

 

 

 
 

 

 

For more information please contact:

Albert So

Chief Financial Officer and Secretary

Tel: 852 2605 5822

Fax: 852 2691 1724

SOURCE Bonso Electronics