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 July 12, 2004
BONSO ELECTRONICS INTERNATIONAL INC.
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(Translation of Registrant's name into English)
Unit 1106-1110, 11/F., Star House 3 Salisbury Road,
Tsimshatsui Kowloon, Hong Kong
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(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 Reports Record Sales for the Year with Earnings Up 236%
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HONG KONG, July 12 /Xinhua-PRNewswire-FirstCall/ -- Bonso Electronics
International, Inc (Nasdaq: BNSO - News) today reported net income of $2,244,000
or $0.39 per share (diluted) on revenues of $74,707,000 for the fiscal year
ended 31 March 2004. This represents an increase of 236 percent in net income
and 61 percent in revenues as compared to a loss of $1,644,000 or $0.29 per
share (diluted) and sales of $46,330,000 posted during the same period last
year.
Anthony So, Chairman, CEO and President said, "We delivered record revenue,
earnings and free cash flow, strengthened our balance sheet, lowered our
interest costs and increased investment in the future growth of our businesses.
"Our record results came from increases in sales of both Telecom and Sensor
based products. The tremendous improvement in our annual results represents a
significant positive change in our business," said Mr. Anthony So.
"This year's results further demonstrate that we can significantly increase our
sales volume while maintaining positive cash flow from operations. At March 31,
2004, Bonso had a cash and cash equivalents position of approximately
$11,000,000 or $1.82 per share with little long term debt."
Although our stock price has increased significantly in the last fiscal year (a
269% increase from 1 April, 2003 to 31 March 2004), I believe that we are still
undervalued and that our current share price represents a value as demonstrated
by the statistics below:
Share price (7/9/04) = $5.30
Earnings per share (3/31/04) = $0.39
Sales increase (3/31/04) = 61%
Earnings increase (3/31/04) = 236%
Cash per share (3/31/04) = $1.82
Book value per share (3/31/04) = $5.07
We are also proud to announce that we are pursuing international certification
for environmental compliance (ISO 14000) and worker safety (ISO 18000). We want
to safeguard the world's precious natural resources and ensure that our 3,200
dedicated and hard working employees operate in a safe and clean environment.
Financial Summary
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Unaudited Audited
Year ended Year ended
March 31, 2004 March 31, 2003
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Revenue ($M) 74.707 46.330
Gross Profit ($M) 17.226 10.802
Net Income/(Loss) from operation ($M) 2.304 (0.778)
Net income/(Loss) ($M) 2.244 (1.644)
EPS($) 0.39 (0.29)
Weighted Average
Shares Outstanding (M) 6.060 5.599
About Bonso Electronics
Headquartered in Hong Kong, Bonso Electronics designs, develops, manufactures,
assembles and markets a comprehensive line of telecommunications products,
electronic scales and weighing instruments. Bonso products are manufactured in
the People's Republic of China with 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. For further information, visit the company's website at
http://www.bonso.com.
The statements contained in this press release which are not historical fact are
forward looking statements that involve certain risks and uncertainties
including, but not limited to, risks associated with the uncertainty of future
financial results, seasonality of sales of certain products, additional
financing requirements, development of new products, government approval
processes, the impact of competitive products or pricing, technological changes,
currency fluctuations, estimates of market growth, the effect of economic
conditions and other uncertainties detailed in the company's filings with the
Securities and Exchange Commission.
For more information, please contact,
In US - George OLeary
Tel: +1-949-760-9611
Fax: +1-949-760-9607
In Hong Kong - Cathy Pang
Tel: +852-2605-5822
Fax: +852-2691-1724
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: July 12, 2004 By: /s/ Henry F. Schlueter
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Henry F. Schlueter, Assistant Secretary