|
|
Page
|
Consolidated Financial Statements
|
|
3
|
|
|
|
Unaudited Consolidated Balance Sheets as of September 30, 2016 and March 31, 2016
|
|
3
|
|
|
|
Unaudited Consolidated Statements of Operations and Comprehensive Income for the Six-Month Periods Ended September 30, 2016, and September 30, 2015
|
|
4
|
|
|
|
Management's Discussion and Analysis of Financial Condition and Results of Operations
|
|
5
|
|
|
|
Liquidity and Capital Resources
|
|
7
|
Stock Repurchase Program | 8 | |
Signature | 9 | |
Exhibits | ||
99.1 Press Release disclosing Results of Operations dated February 17, 2017. | ||
|
|
|
September 30,
|
March 31,
|
|||||||
2016
|
2016
|
|||||||
$ in thousands
|
$ in thousands
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
3,322
|
3,547
|
||||||
Trade receivables, net
|
2,111
|
913
|
||||||
Inventories
|
724
|
1,823
|
||||||
Other receivables, deposits and prepayments
|
1,292
|
1,180
|
||||||
Financial instruments at fair value
|
-
|
144
|
||||||
Total current assets
|
7,449
|
7,607
|
||||||
Investment in life insurance contract
|
140
|
140
|
||||||
Other receivables - non-current portion
|
-
|
265
|
||||||
Other intangible assets
|
3,007
|
3,292
|
||||||
Property, plant and equipment, net
|
10,975
|
11,717
|
||||||
Total assets
|
21,571
|
23,021
|
||||||
Liabilities and stockholders' equity
|
||||||||
Current liabilities
|
||||||||
Notes payable
|
698
|
1,237
|
||||||
Accounts payable
|
1,441
|
2,501
|
||||||
Accrued charges and deposits
|
3,333
|
3,153
|
||||||
Income tax liabilities
|
317
|
317
|
||||||
Short-term bank loans
|
249
|
506
|
||||||
Payable to affiliated party
|
-
|
79
|
||||||
Current portion of capital lease obligations
|
47
|
49
|
||||||
Financial instruments at fair value
|
160
|
160
|
||||||
Loan from affiliated party - current portion
|
135
|
135
|
||||||
Total current liabilities
|
6,380
|
8,137
|
||||||
Capital lease obligations, non-current portion
|
82
|
104
|
||||||
Loan from affiliated party - non-current portion
|
135
|
202
|
||||||
Total liabilities
|
6,597
|
8,443
|
||||||
Stockholders' equity
|
||||||||
Common stock par value $0.003 per share
|
||||||||
- authorized shares - 23,333,334
|
||||||||
- issued shares: Sep 30, 2016 and Mar 31, 2016 - 5,577,639,
outstanding shares: Sep 30, 2016 - 5,154,431 shares; Mar 31, 2016 – 5,173,431 shares |
17
|
17
|
||||||
Additional paid-in capital
|
22,566
|
22,566
|
||||||
Treasury stock at cost: Sep 30, 2016 - 423,208 shares; Mar 31, 2016 - 404,208 shares
|
(1,587
|
)
|
(1,561
|
)
|
||||
Accumulated deficit
|
(7,730
|
)
|
(8,828
|
)
|
||||
Accumulated other comprehensive income
|
1,708
|
2,384
|
||||||
14,974
|
14,578
|
|||||||
Total liabilities and stockholders' equity
|
21,571
|
23,021
|
Six months ended September 30, 2016
|
Six months ended September 30, 2015
|
|||||||
$ in thousands
|
$ in thousands
|
|||||||
Updated*
|
||||||||
Net sales
|
10,163
|
12,833
|
||||||
Cost of sales
|
(7,006
|
)
|
(9,516
|
)
|
||||
|
|
|||||||
Gross profit
|
3,157
|
3,317
|
||||||
Selling expenses
|
(151
|
)
|
(258
|
)
|
||||
Salaries and related costs
|
(1,179
|
)
|
(1,191
|
)
|
||||
Research and development expenses
|
(103
|
)
|
(197
|
)
|
||||
Administration and general expenses
|
(1,531
|
)
|
(2,138
|
)
|
||||
Other income
|
821
|
825
|
||||||
|
||||||||
Income from operations
|
1,014
|
358
|
||||||
Interest income
|
4
|
7
|
||||||
Interest expenses
|
(24
|
)
|
(77
|
)
|
||||
Foreign exchange gain / (loss)
|
150
|
(129
|
)
|
|||||
|
|
|||||||
Income before income taxes
|
1,144
|
159
|
||||||
Income tax expense
|
(46
|
)
|
(5
|
)
|
||||
|
||||||||
Net income
|
1,098
|
154
|
||||||
Other comprehensive loss, net of tax:
|
||||||||
Foreign currency translation adjustments, net of tax
|
(676
|
)
|
183
|
|||||
|
||||||||
Comprehensive income
|
422
|
337
|
||||||
|
|
|||||||
Earnings per share
|
||||||||
Weighted average number of shares outstanding
|
5,154,454
|
5,246,903
|
||||||
Diluted weighted average number of shares outstanding
|
5,204,981
|
5,246,903
|
||||||
Earnings per common share ( in U.S.Dollars) - basic
|
$
|
0.21
|
$
|
0.03
|
||||
Earnings per common share ( in U.S.Dollars) - diluted
|
$
|
0.21
|
$
|
0.03
|
||||
Issuer Purchases of Equity Securities
|
||||||||||||||||
Period
|
(a) Total Number of Shares (or Units) Purchased
|
(b) Average Price Paid per Share (or Unit)
|
(c) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs
|
(d) Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs
|
||||||||||||
April 1, 2016 to April 30, 2016
|
19,000
|
1.40
|
19,000
|
$
|
1,409,000
|
|||||||||||
May 1, 2016 to May 31, 2016
|
-
|
-
|
$
|
1,409,000
|
||||||||||||
June 1, 2016 to June 30, 2016
|
-
|
-
|
$
|
1,409,000
|
||||||||||||
July 1, 2016 to July 31, 2016
|
-
|
-
|
$
|
1,409,000
|
||||||||||||
August 1, 2016 to August 31, 2016
|
-
|
-
|
$
|
1,409,000
|
||||||||||||
September 1, 2016 to September 30, 2016
|
-
|
-
|
$
|
1,409,000
|
||||||||||||
TOTAL
|
19,000
|
1.40
|
19,000
|
$
|
1,409,000
|
BONSO ELECTRONICS INTERNATIONAL, INC.
(Registrant)
|
|||
Date: February 27, 2017
|
By:
|
/s/ Albert So | |
Albert So, Chief Financial Officer and Secretary
|
|||
September 30,
|
March 31,
|
|||||||
2016
|
2016
|
|||||||
$ in thousands
|
$ in thousands
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
3,322
|
3,547
|
||||||
Trade receivables, net
|
2,111
|
913
|
||||||
Inventories
|
724
|
1,823
|
||||||
Other receivables, deposits and prepayments
|
1,292
|
1,180
|
||||||
Financial instruments at fair value
|
-
|
144
|
||||||
Total current assets
|
7,449
|
7,607
|
||||||
Investment in life insurance contract
|
140
|
140
|
||||||
Other receivables - non-current portion
|
-
|
265
|
||||||
Other intangible assets
|
3,007
|
3,292
|
||||||
Property, plant and equipment, net
|
10,975
|
11,717
|
||||||
Total assets
|
21,571
|
23,021
|
||||||
Liabilities and stockholders' equity
|
||||||||
Current liabilities
|
||||||||
Notes payable
|
698
|
1,237
|
||||||
Accounts payable
|
1,441
|
2,501
|
||||||
Accrued charges and deposits
|
3,333
|
3,153
|
||||||
Income tax liabilities
|
317
|
317
|
||||||
Short-term bank loans
|
249
|
506
|
||||||
Payable to affiliated party
|
-
|
79
|
||||||
Current portion of capital lease obligations
|
47
|
49
|
||||||
Financial instruments at fair value
|
160
|
160
|
||||||
Loan from affiliated party - current portion
|
135
|
135
|
||||||
Total current liabilities
|
6,380
|
8,137
|
||||||
Capital lease obligations, non-current portion
|
82
|
104
|
||||||
Loan from affiliated party - non-current portion
|
135
|
202
|
||||||
Total liabilities
|
6,597
|
8,443
|
||||||
Stockholders' equity
|
||||||||
Common stock par value $0.003 per share
|
||||||||
- authorized shares - 23,333,334
|
||||||||
- issued shares: Sep 30, 2016 and Mar 31, 2016 - 5,577,639,
outstanding shares: Sep 30, 2016 - 5,154,431 shares; Mar 31, 2016 – 5,173,431 shares |
17
|
17
|
||||||
Additional paid-in capital
|
22,566
|
22,566
|
||||||
Treasury stock at cost: Sep 30, 2016 - 423,208 shares; Mar 31, 2016 - 404,208 shares
|
(1,587
|
)
|
(1,561
|
)
|
||||
Accumulated deficit
|
(7,730
|
)
|
(8,828
|
)
|
||||
Accumulated other comprehensive income
|
1,708
|
2,384
|
||||||
14,974
|
14,578
|
|||||||
Total liabilities and stockholders' equity
|
21,571
|
23,021
|
Six months ended September 30, 2016
|
Six months ended September 30, 2015
|
|||||||
$ in thousands
|
$ in thousands
|
|||||||
Updated*
|
||||||||
Net sales
|
10,163
|
12,833
|
||||||
Cost of sales
|
(7,006
|
)
|
(9,516
|
)
|
||||
|
|
|||||||
Gross profit
|
3,157
|
3,317
|
||||||
Selling expenses
|
(151
|
)
|
(258
|
)
|
||||
Salaries and related costs
|
(1,179
|
)
|
(1,191
|
)
|
||||
Research and development expenses
|
(103
|
)
|
(197
|
)
|
||||
Administration and general expenses
|
(1,531
|
)
|
(2,138
|
)
|
||||
Other income
|
821
|
825
|
||||||
|
||||||||
Income from operations
|
1,014
|
358
|
||||||
Interest income
|
4
|
7
|
||||||
Interest expenses
|
(24
|
)
|
(77
|
)
|
||||
Foreign exchange gain / (loss)
|
150
|
(129
|
)
|
|||||
|
|
|||||||
Income before income taxes
|
1,144
|
159
|
||||||
Income tax expense
|
(46
|
)
|
(5
|
)
|
||||
|
||||||||
Net income
|
1,098
|
154
|
||||||
Other comprehensive loss, net of tax:
|
||||||||
Foreign currency translation adjustments, net of tax
|
(676
|
)
|
183
|
|||||
|
||||||||
Comprehensive income
|
422
|
337
|
||||||
|
|
|||||||
Earnings per share
|
||||||||
Weighted average number of shares outstanding
|
5,154,454
|
5,246,903
|
||||||
Diluted weighted average number of shares outstanding
|
5,204,981
|
5,246,903
|
||||||
Earnings per common share ( in U.S.Dollars) - basic
|
$
|
0.21
|
$
|
0.03
|
||||
Earnings per common share ( in U.S.Dollars) - diluted
|
$
|
0.21
|
$
|
0.03
|
||||