-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IQEGTLGP+GRQg+jgxNgeXsdEypyF+HHx0e8BgoOH/scLFbVGSMBgLo39kCIK7zE5 ZHVS8M/99/HGxl19KZIz+Q== 0001050502-99-000530.txt : 19990811 0001050502-99-000530.hdr.sgml : 19990811 ACCESSION NUMBER: 0001050502-99-000530 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19990803 FILED AS OF DATE: 19990803 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BONSO ELECTRONICS INTERNATIONAL INC CENTRAL INDEX KEY: 0000846546 STANDARD INDUSTRIAL CLASSIFICATION: MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590] FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: SEC FILE NUMBER: 000-17601 FILM NUMBER: 99676856 BUSINESS ADDRESS: STREET 1: FLAT AD 8TH FLR 23-25 SHAN MEI ST STREET 2: UNIVERSAL INDUSTL. CENTRE FO TAN SHA TIN CITY: NEW TERRITORIES HONG STATE: K3 BUSINESS PHONE: 011852260558224 MAIL ADDRESS: STREET 1: FLAT AD 8TH FLR 23-25 SHAN MEI ST STREET 2: UNIVERSAL INDUSTL CENTRE FO TAN SHA TIN CITY: NT HONG KONG STATE: K3 6-K 1 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 the month of July, 1999 Bonso Electronics International Inc. ------------------------------------ (Translation of Registrant's name into English) Flat A-D, 8th Floor, Universal Industrial Centre, 23-25 Shan Mei Street, Fo Tan, Shatin, N.T., 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 BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE - -------------------------------------------------------------------------------- Flat A-D, 8/Floor, Universal Industrial Centre North America Company Contact: 23-25, Shan Mei Street George O'Leary Fo Tan, Shatin, N.T. 1919 Yacht Loinia Hong Kong Newport Beach, CA 92660 USA Telephone: (949) 760-9611 Facsimile: (949) 760-9607 BONSO ELECTRONICS INTERNATIONAL INC. ANNOUNCES FISCAL YEAR END RESULTS HONG KONG .... July 23, 1999. Bonso Electronics International Inc. (the "Company") (NASDAQ: BNSO and BNSOW) announced that it has scheduled two analyst trips to its facilities in Hong Kong and China. The first trip is scheduled for July 26 through July 28; the second will take place in mid-August. Any analyst or investor who is interested in touring the Company's manufacturing facilities in Shenzhen, China, and its executive offices in Hong Kong should contact the Company at 852/2605-5822 for further details. Bonso Electronics designs, develops, manufactures and sells a comprehensive line of electronic scales and weighing instruments and electronic consumer and health products. The Company manufactures all of its products in the People's Republic of China. The Company's electronic scales include bathroom, kitchen, office, jewelry, laboratory, pocket, postal, industrial and parcel scales that are used in consumer, commercial and industrial applications. The Company's electronic consumer and health products include electronic thermometers and blood pressure meters. BONSO ELECTRONICS INTERNATIONAL INC. NEWS RELEASE - -------------------------------------------------------------------------------- Flat A-D, 8/Floor, Universal Industrial Centre North America Company Contact: 23-25, Shan Mei Street George O'Leary Fo Tan, Shatin, N.T. 1919 Yacht Loinia Hong Kong Newport Beach, CA 92660 USA Email address: info@bonso.com Telephone: (714) 760-9611 Facsimile: (714) 760-9607 BONSO ELECTRONICS INTERNATIONAL INC. ANNOUNCES FIRST QUARTER FINANCIAL RESULTS HONG KONG ....July 27, 1999. Bonso Electronics International Inc. (the "Company") (NASDAQ: BNSO and BNSOW) reports that revenue for the first quarter ended June 30, 1999, increased 2.7% to $4,340K as compared to revenue of $4,226K in the corresponding quarter of the last fiscal year. Operating income increased 78.3% for the first quarter ended June 30, 1999 to $428K compared to $240K for the corresponding quarter in the previous year. Net income for the first quarter, ended June 30, 1999, was $386K, up 145.9% compared to net income of $157K for the first quarter ended June 30, 1998. Basic earnings per share were $0.12 for the first quarter ended June 30, 1999, an increase of 130.8% compared to earnings of $0.052 in the first quarter ended June 30, 1998. Mr. Anthony So, Chairman and Chief Executive Officer of the Company, stated "I am pleased to report that the Company has rebounded from the bottom as a result of applying "Just In Time" inventory control procedures in the manufacturing process, the tight control of expenditures, the launch of new products and an increased customer base. We are optimistic that we will be able to continue to secure additional new contracts for both our old and new product lines, including our new glass body scales, kitchen scales, pocket scales and laboratory scales. Also, we are close to finalizing contract negotiations with several customers." Mr. So added, "Today, Bonso is aggressively pursuing opportunities to enhance value in the Company. For example, Bonso has developed a unique bathroom scale that offers significant value advantages to its OEM customers. Further, the Company is in discussions with a number of significant scale companies that have expressed interest in this product. We are very excited about this opportunity, because we believe it represents a significant market opportunity." Bonso Electronics designs, develops, manufactures and sells a comprehensive line of electronic scales and weighing instruments and electronic consumer and health care products. The Company manufactures all of its products in the People's Republic of China. The Company's electronic scales include bathroom, kitchen, office, jewelry, laboratory, pocket, postal, industrial and parcel scales that are used in consumer, commercial and industrial applications. The Company's electronic consumer and health products include electronic thermometers and blood pressure meters. Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including, but not limited to, risks associated with the uncertainty of future financial results, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. ### FINANCIAL HIGHLIGHTS--TO FOLLOW
BONSO ELECTRONICS INTERNATIONAL INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEET (Expressed in United States Dollars) June 30 March 31 1999 1999 ---- ---- (Unaudited) (Audited) ASSETS Current Assets: Cash and cash equivalents $ 326,851 $ 271,447 Restricted cash deposits 1,025,153 1,011,688 Trade receivables, net 540,997 362,236 Inventories, net 3,979,103 4,697,928 Notes receivable 188,100 690,449 Deferred income tax assets - current 31,251 31,251 Other receivables, deposits and prepayments 290,801 243,231 ------------ ------------ Total current assets $ 6,382,256 $ 7,308,230 Deferred income tax assets - non current 93,017 81,223 Net property, plant and equipment 11,778,080 11,270,831 ------------ ------------ Total assets $ 18,253,353 $ 18,660,284 ============ ============ LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Bank overdrafts $ 119,820 $ 643,278 Notes payable 956,462 581,349 Accounts payable 1,079,383 1,135,910 Accrued charges and deposits 681,815 516,458 Income taxes payable 23,402 11,667 Short-term loans -- 720,129 Current portion of long-term debt and capital lease obligations 198,422 383,409 ------------ ------------ Total Current Liabilities $ 3,059,304 $ 3,992,200 Long-term debt and capital lease obligations, net of current maturities 179,487 42,397 Shareholders' equity Common stock, par value $0.003 per share, - authorized shares - 23,333,334, - issued and outstanding shares - 2,919,159 8,753 8,753 Additional paid-in capital 8,935,705 8,935,705 Promissory note receivable from shareholder (1,430,000) (1,430,000) Common stock subscribed 1,350,000 1,350,000 Retained earnings 5,911,728 5,525,958 Accumulated other comprehensive income 238,376 235,271 ------------ ------------ $ 15,014,562 $ 14,625,687 ------------ ------------ TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 18,253,353 $ 18,660,284 ============ ============
BONSO ELECTRONICS INTERNATIONAL, INC. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENT (In Thousands of U.S. Dollars) Unaudited Three months ended June 30 ---------------------------- 1999 1998 ---- ---- Sales $ 4,340 $ 4,226 Cost of Sales (2,994) (3,119) ----------- ----------- Gross Profits 1,346 1,107 Operating Expenses Selling expenses 52 52 Salaries and related costs 495 470 Research and development expenses 7 6 Administration and general expenses 364 339 ----------- ----------- Income from Operations 428 240 Other income 30 30 Foreign exchange (losses)/gains (7) 22 Interest expenses (65) (135) Net income 386 157 Per share amounts (in dollars): Earnings per share Basic $ 0.12 $ 0.052 Diluted $ 0.12 $ 0.047 Weighted average shares outstanding 3,119,159 3,033,904 Incremental shares from assumed Exercise of warrants and stock options 141,408 280,156 Adjusted weighted average shares 3,260,567 3,314,060 SIGNATURES 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: August 3, 1999 By: /s/ Henry F. Schlueter -------------- --------------------------------------- Henry F. Schlueter, Assistant Secretary -----END PRIVACY-ENHANCED MESSAGE-----